Spotlight on billionaires and tycoons who choose Singapore to set up their foundations for charity work

(Clockwise from top left) Mr Ray Dalio, Mr Low Tuck Kwong (back row, left in picture), Mr Bill Gates, Mr Eduardo Saverin and Mr Mohamed Salleh Marican. - GIN TAY, NTU, KELVIN CHNG, B CAPITAL, BERITA HARIAN FILE via ST/ANN

SINGAPORE: Some of the richest people in the world, such as American hedge fund billionaire Ray Dalio, Indonesian coal king Low Tuck Kwong and Brazil-born Facebook co-founder Eduardo Saverin, have set up foundations in Singapore to give to charitable causes in the past three years.

This comes as the Republic positions itself as a financial and philanthropic hub for Asia, driven by a flourishing wealth management sector and attractive tax incentives.