Indonesian gold tycoon’s new foundation in Singapore gives charitable causes

Indonesian gold mining magnate Jimmy Budiarto, 48, and his wife Yohana Limarno are no strangers to philanthropy.Ms Limarno, 47, founded WonderFood and WonderSchool, which are non-profit organisations that offer food and education to underserved communities in Indonesia.

After relocating to Singapore in 2023 with hopes of settling down here, the Budiartos set up the Rao Family Foundation a year later to support charitable causes. “Rao” is Mr Budiarto’s Chinese surname, reflecting his Indonesian-Chinese heritage.Registered as a charity in January 2025, the Rao Family Foundation is among a growing number of philanthropic foundations set up by the super-wealthy from all over the world in Singapore in the past three years. These include the Dalio Foundation by American hedge fund billionaire Ray Dalio and his family, the Elaine and Eduardo Saverin Foundation by Facebook co-founder Eduardo Saverin, and Indonesian coal tycoon Low Tuck Kwong’s foundation bearing his name.