Singapore Seeks Asia's Philanthropic Hub

This is a Singapore news story, published by CNBC, that relates primarily to Ray Dalio news.

Singapore news

For more Singapore news, you can click here:

more Singapore news

Ray Dalio news

For more Ray Dalio news, you can click here:

more Ray Dalio news

News about Asia business & economics

For more Asia business & economics news, you can click here:

more Asia business & economics news

CNBC news

For more news from CNBC, you can click here:

more news from CNBC

About the Otherweb

Otherweb, Inc is a public benefit corporation, dedicated to improving the quality of news people consume. We are non-partisan, junk-free, and ad-free. We use artificial intelligence (AI) to remove junk from your news feed, and allow you to select the best business news, entertainment news, world news, and much more. If you like this article about Asia business & economics, you might also like this article about

Low Tuck Kwong Foundation

. We are dedicated to bringing you the highest-quality news, junk-free and ad-free, about your favorite topics. Please come every day to read the latest Singapore government news, Singapore dollars news, news about Asia business & economics, and other high-quality news about any topic that interests you. We are working hard to create the best news aggregator on the web, and to put you in control of your news feed - whether you choose to read the latest news through our website, our news app, or our daily newsletter - all free!

Philanthropy Asia Alliance

CNBC

•

World

Singapore's 10-fold rise in family offices is driving a philanthropic boom

Summary

Nutrition label

89% Informative

Singapore hopes to become Asia ’s philanthropic hub.

Wealthy donors include Dalio Philanthropies , which is backed by the family office of hedge fund billionaire Ray Dalio .

The funds benefit nations beyond the region, with several Singapore -based foundations supporting initiatives in Africa .

Government aims to build on this momentum by encouraging more family offices to channel their philanthropic efforts through Singapore .

Looking ahead, Withersworldwide's Choong said Singapore 's philanthropic ecosystem benefits from a network effect. Besides the numerous donors based in the city-state, there are also organizations such as the Community Foundation of Singapore and The Majurity Trust that will help match potential donors with vetted initiatives. As Singapore cements its status as a global wealth hub, it is also emerging as a powerhouse for philanthropy, where fortunes are not just preserved but put to work for the greater good, industry players said..

VR Score

Informative language

Neutral language

Article tone

formal

Language

English

Language complexity

Offensive language

not offensive

Hate speech

not hateful