He arrived in the United States at 31-years-old from Vietnam. Now he’s worth $2.9 billion and just donated $5 million to the Hurricane Harvey relief fund. His name is Kieu Hoang and has expressed concern primarily for the immigrants affected by the storm.
Fear of deportation has left many Houstonians out on the streets, avoiding shelter centers to prevent ICE from finding them. The current political climate does not favor undocumented individuals, and Hoang is well-aware of this. It’s also not the first time he goes out of his way to help those in need.
Kieu Hoang was raised by his uncle, a successful composer, in Saigon. He attended college for a year, studying science, before becoming a volunteer interpreter for the U.S. forces. The billionaire used his military contacts with the United States to get visas for people who needed to leave the country.
When Hoang announced he would donate $5 million to the Hurricane Harvey relief fund, he was with Houston’s mayor, Sylvester Turner. Turner is confident that Houston will soon be back on its feet, especially with the help of people like Hoang. The Vietnamese billionaire referenced Dr. Martin Luther King Jr. in his speech, saying:
Dr. Martin Luther King said ‘I have a dream’. Thanks to the American people’s help, I have realized some small dreams. A dream to have immigration laws so that a lot of people do not live in constant fear of being deported. A dream to allow immigrants like me to come into this great America to make it greater.
When Hoang first got to the United States, he landed a level-entry position at Abbott Labs that paid $1.25 an hour. He became a manager within a year. Years later, Hoang founded Rare Antibody-Antigen Supply (RAAS) and started doing business with China before any American company even fathomed the idea. Thanks to that business move, RAAS is now worth $14.5 billion.
For over ten years now, Hoang has focused on charity work, starting in 2005 with his own country. He built schools, roads, bridges, temples, and thousands of houses. Hoang also donated $5 million to the victims of San Jose, California’s floods.
In his spare time, Hoang runs a wine business that he bought in 2014, and he mostly sells to the Chinese market. A passion for wine, though, does not take his focus away from helping people. He sees all his charity work through to make sure the money goes to the right hands, something Warren Buffet and Bill Gates fail to do, he says.
Kieu Hoang is also actively preparing to make a hefty donation to the Hurricane Irma relief fund. The U.S. is currently experiencing a moment of distress due to multiple natural disasters, but hope remains thanks to contributors to the cause like Hoang.