A Hong Kong billionaire family on why the rich need to help

Tony Yeung, managing director of Peterson Group Inc., poses for a photograph in Hong Kong, on Wednesday, Aug. 21, 2019. Yeung leads one of the most private of Hong Kong's private, family run companies. Bloomberg estimates the family's wealth is at least $1.8 billion in Asia, based on public filings and research, but a person familiar with the firm's businesses says its net assets are worth between $4 billion and $5 billion once all the overseas holdings are included. Photographer Calvin Sit/Bloomberg

SINGAPORE: Sham Shui Po, one of Hong Kong’s poorest districts, is a concrete warren of rag traders and cheap street stalls that was once a hub for refugees. More recently, it’s become a battleground for the weekly clashes between riot police and black-clad protesters.

Up a narrow staircase here you’ll find the unlikely philanthropic front for one of the city’s most elusive property barons.