Multi-Millionaire Known As ‘Madam W’ Leaves Fortune To Orphans
A mysterious woman known only as ‘Madam W’ left a portion of her multi-million fortune to several orphanages in Malaysia when she died in 2013.
And although she passed away seven years ago, her donations continue even now, thanks to her determination that her estate would continue to make money when she was gone.
Instead of simply distributing part of her estate for orphanages in a one-off payment, Madam W instructed in her will that a portion of her estate be held in trust for the sole purpose of investment, in which the earnings would be given to orphanages.
As such, her generous charity continues years after her death, with her donations given to different orphanages annually in a cycle that will hopefully never end.
Rockwills Trustee Bhd, which served as the trustee in the last will and testament of the testator, has said the woman’s identity remains undisclosed due to confidentiality reasons.
In other words, Madam W didn’t want to take any of the credit that came from giving her fortune to charitable causes, instead letting her act of kindness speak for itself.
Since her death in 2013, her donations have totalled a staggering 1.1 million Malaysian Ringgit (RM), and last week Rockwills Trustee Bhd presented almost RM190,000 in profits from the investments this year.
The proceeds, totalling RM189,304.02 (approximately £34,350), were presented to 20 different orphanages at a ceremony held at the company’s office in the Menara AmFirst building in Petaling Jaya on August 13.
Each of the 20 orphanages this year – which included Good Samaritan Home, Rumah Bakti Dato’ Harun, House of Joy and Desa Amal Jireh – received RM9,465.20, benefiting a total of 1,100 orphans and continuing Madam W’s legacy almost a decade after she passed away.
Rockwills Trustee Bhd Chief Executive Officer Azhar Iskandar Hew, who presented the donations, said Madam W had wanted to do more than simply giving part of her 6-million-ringgit estate away when she died.
He told the New Straits Times:
When Madam W wrote her will, she had wished to do something with her wealth for orphans. She didn’t want to stop at distributing part of her estate for orphanages upon her demise. She wanted more than that – make her money work for the benefit of orphans.
Through astute estate planning, she allocated a portion of her estate to be held in trust for the sole purpose of investment. Earnings derived from the investments are then to be utilised for the benefit of orphans.
‘Each year, the orphanages vary for a wider spread of beneficiaries regardless of race and religion,’ he continued, while noting that perpetual acts of charity such as this one are not common.
‘It is an example of a well-formulated estate plan to be considered and followed,’ he explained, describing it as something that ensures wealth distribution to deserving segments of society.
What an incredible story.
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CreditsNew Straits Times
New Straits Times