Track 3.2: Worth versus Wealth: How can family offices deliver legacy not just returns? (Co-presented with Hong Kong Academy for Wealth Legacy)

The panel focused on the role of family offices and how wealth can be utilised for maximum impact in philanthropy. Moderator Angel Chia set the stage by inviting the panellists to share their personal "North Star" statements and explore the motivations, methodologies, and structures that families and family offices employ to manifest their core values.

Jack Selby spoke candidly about the role of luck and timing in his success founding PayPal, expressing his desire to pay it forward to the next generation of entrepreneurs. He also emphasised that contributing involves not just financial capital but also human capital, including dedicating time and sharing experiences.

Representing a multi-generational family business, Rebecca Eu spoke with heartfelt conviction about her family's longstanding ethos of "caring for mankind." This guiding principle has infused her personal philanthropic work aimed at uplifting underserved communities in Southeast Asia. She also addressed the generational differences in how families approach philanthropy, stressing the importance of family conversations and finding common ground regarding their philanthropic goals.

Wouter Kneepkens highlighted that wealth is not an end goal but a means to achieve something greater. He articulated a rational, evidence-based approach to philanthropy that aligns with the principles of effective altruism. His family has strategically outsourced a selection of charitable causes to specialised professionals who are laser-focused on maximising the utility of every philanthropic dollar, while family members pursue the principles of effective altruism.

During the Q&A session, Eu suggested that nonprofits should focus on staying true to their goals and communicating their impact effectively, while Selby mentioned Social Venture Partners as an example of an organisation that equips nonprofits with business skills and funding to engage family offices effectively.

In closing, the speakers offered guidance for families new to philanthropy, suggesting they start by having thoughtful discussions about the purpose of wealth and gradually incorporate giving into their family culture and operations.

Overall, the session reinforced the idea of wealth as a powerful tool for creating positive, measurable change in the world.