lasting legacy

Timothy F. Daniels Greases The Wheels Of Wealth Preservation

Tiger 21’s CEO and president leads a peer network that supports UNHWIs in navigating the challenges of extraordinary affluence.

Adora Wong
By Adora Wong
Timothy F. Daniels helps every Tiger 21 member be purposeful about their legacy (Credit: Mun Kong. )
Timothy F. Daniels helps every Tiger 21 member be purposeful about their legacy.Photo: Mun Kong.

Shirtsleeves to shirtsleeves in three generations is a common worry among the wealthy. To learn how to effectively preserve and grow their assets, the privileged class has been turning to Tiger 21, a peer network that helps UNHWIs navigate the hurdles that typically come with eye-popping affluence. “Extraordinary success is often accompanied by unanticipated and unique challenges,” says CEO and president Timothy F. Daniels.

The biggest challenge, he lets on, involves acquiring the necessary investment skills to transition from wealth creator to wealth preserver. Another entails teaching scions to be good stewards of their family fortune.

But don’t call Tiger 21 a support group for the deep-pocketed. “That characterisation could easily be misconstrued. Tiger 21 is a trusted community for ultra-successful entrepreneurs, investors, and executives to share insights and experiences in a collaborative environment,” he asserts.

Founded in 1999 by Michael Sonnenfeldt and six entrepreneurs who were unsure of how to protect their wealth, the organisation now has some 1,300 members in 46 cities. Group meetings typically involve up to 15 members exchanging knowledge and perspectives, and serving as each other’s ‘personal board of directors’.

Members have access to everyone in the community and can engage with those that share the same interests or areas of expertise, such as real estate and cryptocurrency. They also complete portfolio defences every year to receive feedback on their investments.

As the network’s launchpad into the Asia-Pacific market, Singapore was selected for its transparent legal framework, political stability, attractive tax incentive strategies, and robust economy. Tiger 21 Singapore currently operates two groups: one led by Kanu Gupta, founder and managing partner of Beyond; and the other by Hon Mun Yip, a business and family office consultant. Both are group chairs for the local outfit.

A third group primarily operates virtually. It is available to members who reside in the region but lack access to the local community or cannot attend physical meetings due to their travel schedules. In this instance, they meet in person twice a year and online monthly.

Formerly CEO of Laureate Education’s EMEAA segment and president of Apollo Global, Daniels joined Tiger 21 as CEO and president in 2019. While he now calls New York City home, he previously resided in our island city and, at the time of this interview, returned to attend Tiger 21 Singapore’s inaugural meeting. He anticipates visiting more frequently in the near future now that the organisation has a presence in Asia.

In his current roles, he strives to optimise two areas of focus. First, deliver an exceptional membership experience. Second, introduce the experience to those looking to create a meaningful impact. Many of the network’s members, he says, are passionate about philanthropy.

He adds that UNHWIs are most concerned with legacy when it comes to how their funds are deployed. As it is, massive multigenerational wealth will change hands over the next two decades.

Apart from enhancing each other’s investment acumen, Tiger 21 members also act as legacy planning partners by comparing notes on how to best manage family-related challenges and estate planning options.

“People think wealth solves problems when, in fact, it often creates unexpected complications,” says Daniels. “This is why we aim to provide a safe place to discuss these complex issues and share the approaches to addressing them.”

Art director: Ed Harland
Videographer: Yvonne Isabelle Ling
Video editor: Alicia Chong
Photographer: Mun Kong
Photographer’s assistant: Hizuan Zailani
Makeup: Keith Bryant Lee using Clarins
Hair: Aung Apichai

Recommended