A 79-year-old retiree pledged to donate his fortune of S$20 million to 10 charities after his death.

Singaporean businessman Loh Kiong Poot retired when he was 47 and drafted up a will when he was in his 50s, pre-designating the money to the 10 beneficiaries.

Meanwhile, the money is currently invested in bonds.

Speaking to 8world, Loh believed his three children has enough to live independently.

"Of course, I will also leave some of my properties for them. My wife too."

Earned his fortune on his own

Loh was not born with a silver spoon in his mouth.

In fact, his life was not exactly smooth sailing.

He ran away from home when he was 14 and worked odd jobs.

Loh only started a business in the trading industry in 1974 when he was 30.

He said he travelled to and fro Papua New Guinea for this business for many years.

Lives humbly

He eventually retired at 47 when he felt he "earned enough money".

"I had no successor. It's not worth it to overwork myself," Loh told 8world.

According to people familiar with Loh, although Loh is cash-rich, he lives humbly.

They said he donates most of his money to help the disadvantaged.

Began his life of philanthropy at 50

Loh's charitable journey started when he was 50 years old after he learnt through a friend that funds were needed to build a temple in Bangkok.

He donated S$100,000 and continued to donate to charitable causes in Singapore and the region since then.

He has travelled to Thailand, Vietnam and Cambodia to help locals build temples, expand schools, and donate money and food to them.

He has also visited numerous orphanages to donate money and food.

He said that he could no longer remember exactly how much he had donated throughout the years.

Sold landed property to donate more money

In 2022, Loh donated S$3 million to six charities in Singapore.

He donated S$500,000 to The Straits Times School Pocket Money Fund (STSPMF), Kwong Wai Shiu Hospital, Singapore Chung Hwa Medical Institution, Tzu Chi Foundation, SG Enable and Community Chest.

The Straits Times reported that Loh has donated S$2.5 million to charities every year since 2018.

He decided to raise the amount to S$3 million yearly in 2022.

To do so, he sold his landed property in Telok Kurau to live in a condominium in Bishan.

“I have already reached an old age, and money to me is not important, so whatever excess I have, I will donate,” he told ST.

He hopes his act can inspire others to donate as well.

Top photo via 8world