COVID-19 fishes out unknown wealthy individuals to donate Latest entrant is Hong Kong-based Calvin Lo
- Guest Posts
- May 6, 2020
It is during the time of crisis that the world looks up to rich and famous, CEOs and influential business executives to display their stars and stripes. COVID 19 is currently the breeding ground for unknown donors in the fight against the pandemic that engulfs the globe. Hong Kong based Calvin Lo represents a homegrown insurance Moghul. Quietly he has set modern standards of donations.
Why do his charitable acts deserve acknowledgement amid other giants who may have contributed much more with public announcements? We explore the quiet approach of this billionaire to reach out to the indigent patients, health care workers and medical sector. Calvin Lo has transformed corporate social responsibility to the next level and deserves to be recognized.
Many big names in various business sectors have set examples of raising funds and making contributions across the world. Many initiatives have been announced in response to tackle the pandemic. Let’s introduce the simple CEO to the world who is currently the 43rd wealthiest person in Hong Kong.
Calvin Lo, CEO, R E Lee International
Calvin Lo is unassuming and would have been passed off as a methodical, Asian executive engaged in downtown Hong Kong’s commercial district. He quietly worked his way up the ladder to create a massive business empire in brokerage, property and asset management and interests in wineries. Between 2006 and 2018 he was a member of the board of Jane Goodall Institute. The international broker has business interests in Singapore, London, Tokyo and Vancouver. Although his net worth is close to USD 1.7 billion, the CEO does not figure in the public list of wealthy and influential people in the Far East region. The young influential hedge fund manager perfectly fits the bill of the shy and reserved donor who does not wish to be known for charitable acts. Currently, Calvin Lo has donated USD 5 million masks and a record 35,000 boxes of hand sanitizers for the under privileged in Taiwan and Hong Kong. In Wuhan, the epicenter of the Corona virus, the philanthropist donated USD 8 million to contain the spread of the pandemic and tried to avoided media glare whilst making donations of such considerable sums.
Established charitable foundations
Calvin Lo is the owner of three charities based in Cayman Islands. The net worth is around USD 45 million and have been established long back. In fact, it surprises anyone in today’s era of direct communication. His endowments operate amazingly in total secrecy and privacy. The young billionaire is never keen on having his images displayed in media or being written about. But the pandemic which is threatening life, business and normalcy is altering the world rapidly. Regular, generous donors have already made announcements of their ‘good deeds’ in the fight against the medical challenge to get everything back to normalcy. They are also being feted, recognized and appreciated. But unknown charitable acts by wealthy men like Calvin Lo are no less and require acknowledgement. In 2019, his charitable foundations were worth USD 245 million. Money has been invested in initiatives reflecting his personal interest in conservig the environment and protecting animals.
Why a sudden interest in the insurance Moghul?
Culturally, rich donors in China and Honk Kong have shed away from being known to the recipients of their largess. The practice of quiet donations persists from traditions of the ancient orient. Warriors against the corona virus have shown that little acts of humanity will inevitably progress in the right direction. Calvin Lo has inherited his family business which began in Seattle, USA. However, presently, the company operates its activities from Hong Kong. The company has nearly USD 5 billion worth of assets. Calvin Lo manages the real estate services planning and also looks after the coverage of high net worth individuals based across 65 countries. In a diversion of business, he has expanded interests in the hospitality industry. He possesses one of the most luxurious hotels in Taipei, Taiwan. Media persons have never failed to identify billionaires and spread news about their lifestyles. Somehow Calvin Lo has escaped the radar, until now. He is a soul of discretion when it comes to helping the under privileged. COVID 19 has fished him out and he has to shed his private life. He may no longer be able to walk the streets unknown and enjoy his freedom without media scrutiny. The situation has disrupted his quiet life, but his humility deserves mention even in this age of social distancing.