Businessman to Donate R265 Million Fortune to Charity, Says His Kids Have Enough to Live On

• Businessman Loh Kiong Poot will leave his 265 million fortune to 10 charities when he dies
• The successful entrepreneur grew up in a humble home and was forced to start working odd jobs at the age of 14
• He retired at age 47 after figuring he'd "earned enough money" to live on for the rest of his life.

Singaporean businessman Loh Kiong Poot is a wealthy 79-year-old retiree, but one of his life's mantras is that no one is born with money and takes it with them when they die.

That explains why he pledged his fortune worth R265 million to 10 charities after he dies.

The entrepreneur, who retired when he was 47, made the pledge when he drafted his will during his 50s. Asia One records that, at the moment, the billions are invested in bonds and will only be released upon his demise.

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On why he chose charity instead of family, Loh explained that he believes his three children have enough money to live on independently.

"Of course, I will also leave some of my properties for them. My wife too," he said.

Humble beginnings

Loh may be stinking rich now, but he was not born into wealth, had a difficult life growing up, ran away from home at 14 and worked odd jobs to make ends meet.

Life started changing for him in 1974 when he got into business at 30 years old, one that saw him travelling to and from Papua New Guinea for many years.

By 47, the successful entrepreneur figured he had "earned enough money" and retired from active business.

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"I had no successor. It's not worth it to overwork myself," he said, as reported by Mothership.

Those who know Loh closely disclosed that he has remained humble despite the extravagant trappings of wealth.

Loh is philanthropist extraordinaire

He mainly uses his money to help people in need, arguably because of his beginnings.

His journey into charity started when he was 50 years old after a friend informed him that funds were needed to build a temple in Bangkok.

He not only donated towards the project, but has since travelled to Thailand, Vietnam and Cambodia to help locals build temples and schools and donate money and food to them.

Over the years, he has donated so much that he has lost track of the money he's spent on charity.

Rich African man shows baby daughter her inheritance

In a similar story reported by Briefly News, a wealthy African man (@officialafro_g) who calls himself a billionaire has shared a video of his mansion as he took his newborn baby outside.

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While in the palatial compound of his beautiful house, he lifted her up to show her the whole environment. The man said he was letting her see her inheritance.

Source: TUKO.co.ke