Jho Low mulls donating half of family's income
Malaysian billionaire Jho Low said his family is considering to donate half of all income gained from their financial activities.
"Ultimately, we'd like to get to a level where we donate or commit 50 percent of any income generated from our financial activities.
"But the family is still considering this," he told an interview inWashington Post yesterday.
Low (photo) said his family, through their charitable foundation Jynwel Foundation, believed that philanthropy was a social investment.
"We believe in long-term commitments — 15 to 30 years.
"You need a long-term commitment to solving serious problems. And for every investment we make, we want to make sure it can be scaled globally," he was quoted as saying.
The interview had spotlighted his US$50 million (RM189 million) donation to MD Anderson Cancer Centre which is attached with the University of Texas.
Low, whose real name is Low Taek Jho, said his donation was prompted by a personal experience where he was suspected to have Stage 3 lung cancer in 2012.
'I felt like my world had fallen apart'
"This was the first time I felt a sense of hopelessness. I don’t smoke any cigarettes.
"I felt like my world had fallen part. I was just 30. I took the next flight to Abu Dhabi for a meeting, and it was the most miserable flight I ever had.
"I didn't know what to do," he was quoted as saying.
Treatment at MD Anderson Cancer Centre
Low said he was later recommended to seek treatment at MD Anderson where it was revealed that he had a lung infection and not cancer.
Nonetheless, he said this experience had a profound impact on him.
"I felt this was a clear sign that the next phase of my life needed to be different, and I decided I was going to spend the same amount of effort and thought on building the Jynwel Foundation as I had in my investments," he said.
Low added that his interest in MD Anderson grew after his grandfather was hit by leukemia and eventually passed away.
"My first thought was let’s fly him out to Texas, but at that point he was so weak we couldn't do that.
"That’s when I realised and felt the power of having access to this kind of expertise (MD Anderson), how much of a difference it could make," he said.
Low, whose donation will go to MD Anderson's Watson computer system, envisioned the project will be able to remotely diagnose cancer patients in future.
"Ultimately, we'd like to get to a level where we donate or commit 50 percent of any income generated from our financial activities.
"But the family is still considering this," he told an interview inWashington Post yesterday.
Low (photo) said his family, through their charitable foundation Jynwel Foundation, believed that philanthropy was a social investment."We believe in long-term commitments — 15 to 30 years.
"You need a long-term commitment to solving serious problems. And for every investment we make, we want to make sure it can be scaled globally," he was quoted as saying.
The interview had spotlighted his US$50 million (RM189 million) donation to MD Anderson Cancer Centre which is attached with the University of Texas.
Low, whose real name is Low Taek Jho, said his donation was prompted by a personal experience where he was suspected to have Stage 3 lung cancer in 2012.
'I felt like my world had fallen apart'
"This was the first time I felt a sense of hopelessness. I don’t smoke any cigarettes."I felt like my world had fallen part. I was just 30. I took the next flight to Abu Dhabi for a meeting, and it was the most miserable flight I ever had.
"I didn't know what to do," he was quoted as saying.
Treatment at MD Anderson Cancer Centre
Low said he was later recommended to seek treatment at MD Anderson where it was revealed that he had a lung infection and not cancer.
Nonetheless, he said this experience had a profound impact on him.
"I felt this was a clear sign that the next phase of my life needed to be different, and I decided I was going to spend the same amount of effort and thought on building the Jynwel Foundation as I had in my investments," he said.Low added that his interest in MD Anderson grew after his grandfather was hit by leukemia and eventually passed away.
"My first thought was let’s fly him out to Texas, but at that point he was so weak we couldn't do that.
"That’s when I realised and felt the power of having access to this kind of expertise (MD Anderson), how much of a difference it could make," he said.
Low, whose donation will go to MD Anderson's Watson computer system, envisioned the project will be able to remotely diagnose cancer patients in future.
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