Vietnam Refugee-Turned-Billionaire Donates $5 Million To SJ Flood Relief (PHOTO)
(BANT) – A Los Angeles-area billionaire has donated $5 million to the San Jose Flood Victims Relief Fund, increasing the victim-focused fund six-fold.
Kieu Hoang, who at 31 immigrated to California as a refugee at the end of the Vietnam War, founded Rare Antibody Antigen Supply in 1980 and Shanghai RAAS Blood Products in 1992, according to his Facebook page.
The fund benefits the American Red Cross, Catholic Charities of Santa Clara County, Sacred Heart Community Service and the Salvation Army.
Those organizations will issue funds for expenses like temporary accommodations, car repair and replacement furnishings to victims of the flood.
Before Hoang’s donation, the Silicon Valley Community Foundation said the victim’s relief fund had just over $1 million, including $100,000 from the Silicon Valley Auto Dealers Association and $75,000 from the John S. and James L. Knight Foundation.
About 600 households affected by the flood are considered to be in extreme financial need, especially those without insurance.
The city this week estimated that the flood caused $50 million in damage to private property and $23 million in damage to public property such as parks.
About 80 percent of households in the heavily affected Rock Springs neighborhood are Vietnamese immigrants.