Vietnamese-American Billionaire Donates $5 Million to California Flood Victims

March 2, 2017

A Vietnamese-born billionaire has pledged a multimillion-dollar donation to the victims of the recent flooding in San Jose, California.

Napa winery owner Kieu Hoang, a well-known philanthropist from the Bay Area, presented a $5 million check to city officials on Wednesday.

“Mr. Hoang’s extraordinarily generous gift will make an enormous and immediate difference for the hundreds of flood victims who’ve been forced from their homes as a result of this disaster,” San Jose Mayor Sam Liccardo said in a statement.

“I will always remember how thousands of donors and volunteers came together in a time of crisis to contribute their time, energy and money to help our neighbors get back on their feet,” he continued.

Hoang, who currently has a net worth of $2.8 billion by Forbes’ estimate, was born and raised in Vietnam. At the end of the Vietnam war, then 31-year-old Hoang moved to California where he sold medical products.

Through hard work, he was able to rise through the ranks at a pharmaceutical company. He would later found Rare Antibody Antigen Supply in 1980 and Shanghai RAAS Blood Products in 1992.

It was Hoang’s friend, Lee’s Sandwiches co-founder Chieu Van Le, who coordinated with city leaders, including city council member Tam Nguyen, to make the generous contribution possible.

Hoang has reportedly wished that all ” flood victims will be helped in a timely manner.”

Prior to Hoang’s donation, almost $1 million had been collected for the victims of last week’s calamity. The flooding, considered to be the worst the city has seen in decades, resulted in the evacuation of 14,000 people.

The funds will be dispensed as early as next week through nonprofit organizations.

“We’ll help people navigate the insurance companies, navigate the benefits, make sure people if they need another apartment can get what they need,” CEO of Catholic Charities of Santa Clara County Greg Kepfurle was quoted as saying.

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