Freakonomics: What Should South Asians Do With Their Wealth?

I have been posting on this site about the trials and tribulations of young donors. I’m in the middle of chronicling the life of Michael, an heir to a trust, who must soon begin giving away $78 million (U.S.). More on his philanthropic journey in the next post.

Another group is stumbling into the American philanthropic scene. Young South Asians living in the U.S. (Pakistanis, Indians, and Bangladeshis are the majority). Some moved to America after college, and others (like me) were raised here. They are coming into significant personal wealth.

I recently brokered a discussion of six prospective donors. Their concern was: “What is the best way for South Asians to be philanthropic in America?” The half-dozen entrepreneurs I spoke with with have committed their personal resources — a collective sum of $2 million (modest relative to most charities), and they hope to raise more from others. But they need some help to meet their objectives. Allow me to explain. And as always, please chime in with comments.

They are all successful, highly educated, completely obsessed with money, and they want to do good. But they want to help South Asian-Americans, which is not so straightforward. Before you reply, “Give to the United Way,” I want to make clear that this group wants to help South Asians progress in the U.S. That doesn’t preclude mainstream charitable donation, but they want to move South Asians forward.

Of course, philanthropy is part and parcel of the ethnic experience in the U.S., and not just for the Carnegies and Vanderbilts. And South Asians hear the promise: “Come to America, make money, give it away” — for a nice tax donation and, if you’re lucky, a spot on Obama’s transition team (see Google’s Sonal Shah).

From: “DOMINIC DUKAS” [dukas02@mail15.com]
Reply-To: dominicdukas002@netscape.net
To: ...
Date: Mon, 30 Jun 2003 07:56:13 +0100
Subject: Assistance/Investment

Dear Sir,

Naturally, this letter will come to you as a surprise since we have not
met, permit me however, I am MR. DOMINIC DUKAS, a Zimbabwean Farmer. I am
contacting you as the need for me to have a foreign partner in your
country has become necessary due to my plans to relocate and establish a
private company in that region, as the present political instability in my
country (Zimbabwe), does not encourage financial investment as the
environment is not conducive for investment and most of all security is
not guaranteed, just as reported by the International media. This problem
started when the Zimbabwean government under the leadership of President
Robert Mugabe announced a decree on May 31st 2001 to seize more than 6000
white-owned farms. So far, more than 5,400 white owned farms have been
invaded, properties confiscated and farm lands seized. During these
periods, as reported by the international media and C.N.N, more than 500
white farmers were ki lled, the government di

Therefore, I decided to contact you through my local Zimbabwean associate
(Mr. Dennis Udongo) for your assistance so that I can establish a company
in your country and relocate there. Also, I must re-iterate the importance
of having a citizen of your country to front as the owner of the
enterprise, due to the fact that I will be a foreigner in your country.
For this purpose, I have deposited in a Security company based in
Amsterdam (the Netherlands) all the funds realised from the sales of my
farmland and other farming equipment which amounted to USD18,500,000.00
(Eighteen million, five hundred United States Dollars). These funds was
packaged in two metal boxes and declared as personal effects and
photographic materials so as to avoid detection by immigration/security
officials. For now, I stay in Johannesburg (South Africa) because Zimbabwe
is highly unsafe for me and my family. You can reach me on Tel. No.
0027-83-9469684 for fur ther talks or you can als

Upon your immediate response, I will immediately arrange and send to you
all the documentation that will empower your good self in finalizing the
transaction with the security company in the Netherlands.

Let me use this opportunity to also inform you that this transaction is
100% risk free and genuine and should also be handled in the most
confidential manner. This proposal is NOT and must NOT be linked to all
the numerous SCAM letters flying around. The money (USD18.5m) already
stashed in the two boxes could be termed as consignment and I will not
hesitate to link you to my safe contact in the security company for
further discussion.

Lest I forget, you should be entitled to 30% of the total funds for your
support and cooperation in the transaction. Its also your duty to assist
me in investing my own share of the money in your company or in your
country. I shall be counting on your unalloyed trust and immediate
response.

Cheers and God bless.

Best Regards

MR.DOMINIC DUKAS

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