This trend aligns with Singapore’s emergence as a financial and philanthropic hub in Asia, fueled by a thriving wealth management industry and appealing tax incentives.
The Commissioner of Charities informed The Straits Times that approximately five new charities have been registered annually under the Grantmaker Scheme over the past three years.
Philanthropic foundations, typically funded by individuals, families, or institutions, are registered as charities under this scheme, which relaxes or waives certain regulatory requirements to promote philanthropy.
Below is a list of some high-profile people who have set up their charitable foundations in Singapore in the last three years.
Bill Gates
On May 5, the Gates Foundation, one of the largest philanthropic organizations globally, announced plans to open an office in Singapore.
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Microsoft co-founder and Chair of the Gates Foundation Bill Gates attends a session during the Philanthropy Asia Summit in Singapore on May 5, 2025. Photo by AFP |
Established in 2000 by Microsoft co-founder Bill Gates and his former wife Melinda, the foundation focuses on combating poverty, disease, and inequity worldwide.
Gates, a 70-year-old American, ranks 13th on Forbes’ World’s Billionaires List 2025 with an estimated net worth of US$108 billion.
Bill Gates have met with Prime Minister Lawrence Wong to discussion the plan. The PM said on Facebook afterward: “We had a wide-ranging conversation on challenges ahead, from clean energy to vaccine development.”
“Singapore looks forward to working closely with the Gates Foundation to advance innovation and improve lives here in Asia and around the world.”
Ray Dalio
The Dalio Foundation was registered in Singapore in June 2023, with its directors including Matthew Ace Dalio and Mark Marino Dalio, sons of Ray Dalio, the 75-year-old founder of U.S.-based Bridgewater Associates, the world’s largest hedge fund.
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Ray Dalio speaks onstage during the 2025 TIME100 Summit at Jazz at Lincoln Center on April 23, 2025 in New York City. Photo by AFP |
Dalio Philanthropies, also supported by the family office of hedge fund titan Ray Dalio, last year sponsored a three-week program for nearly 400 youth and educators in Singapore to learn about ocean science and maritime operations, according to CNBC.
Ray Dalio has an estimated net worth of US$14 billion, per Forbes. In its 2023 annual report, the Dalio Foundation distributed US$1.4 million in grants to local and regional organizations, focusing on environment, education, and related causes.
Eduardo Saverin
The Elaine and Eduardo Saverin Foundation, registered in September 2023, is directed by Eduardo Saverin and his wife Elaine.
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Facebook co-founder Eduardo Saverin speaks at the Tech in Asia Singapore 2016 conference in Singapore, April 12, 2016. Photo by Reuters |
Eduardo, a co-founder of Facebook alongside Mark Zuckerberg, is the 51st richest person globally, with an estimated wealth of US$34.5 billion, according to Forbes.
The 43-year-old, born in Brazil, is reportedly a Singapore permanent resident.
In 2024, the Singapore American School received a $20 million donation from the Saverin family.
Low Tuck Kwong
The Low Tuck Kwong Foundation, founded by Singapore-born Indonesian tycoon Low Tuck Kwong, was registered in February 2023.
Chow Wei Ling, its impact officer, said Low and his family established the foundation to pursue philanthropy more systematically.
Low, founder of Bayan Resources, one of Indonesia’s top five coal producers by volume, is ranked 72nd on Forbes’ list with an estimated wealth of US$27.3 billion.
The foundation, which supports education, healthcare, and social welfare, has donated over $160 million since its inception.
Chow noted that it is exploring funding models to help “impact organizations become sustainable.”
In 2023, it donated $101 million to the Lee Kuan Yew School of Public Policy for leadership programs and scholarships for Asian.
Mohamed Salleh Marican
The Salleh Marican Foundation, established by Mohamed Salleh Marican, founder of Second Chance Properties, was registered in June 2022.
Its website notes that Salleh, a 75-year-old Singaporean, plans to donate $100 million to support causes in Singapore and abroad, prioritizing this over purchasing a $100 million house.
The foundation focuses on financial aid for education, particularly for disadvantaged children, advancing religion through building places of worship and religious schools, and providing humanitarian aid.
In the financial year ending April 2024, it donated approximately $556,000 to social service agencies, self-help groups, and other causes.
