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Danny Yong donates S$5 million to the National Gallery Singapore
Looks like American hedgies aren’t the only ones eager to be patrons of the art world. According to the Straits Times, Singapore's Danny Yong has been doing his share for the arts as well:
“The National Gallery Singapore has received a $5 million donation from hedge fund manager Danny Yong, its largest individual cash donation to date.
The gallery announced this yesterday, ahead of its opening on Nov 24. The amount will help to fund the art acquisitions for the national collection.”
The 43-year old Yong is chief investment officer of Dymon Asia, one of Asia’s largest – and most successful – global macro funds, and interestingly, he isn’t that big on art collecting:
“He said he is ‘not big into collecting art’ but has enjoyed viewing art in a museum since he was a young boy. He added: ‘I’m constantly amazed at how artists can translate their imagination into visual form so magically. I think art is great for stimulating our creativity.’”
Either way, the National Gallery was “deeply grateful” for his donation and has dedicated Forest Fire, a painting by Indonesian artist Raden Saleh, to the Yong Hon Kong Foundation in recognition of his gift.