Timothy Sykes, the self-made millionaire and reality TV star, is capturing headlines for altruistic reasons. Sykes has promised to dip into his own pocket and put up half of the $1 million that’s being donated to Yemen children via Karmagawa, the non-profit he founded.
Karmagawa is a new and innovative charity community, started by the Sykes and active on social channels like Facebook (FB), Instagram and Twitter (TWTR), with a mandate to support environmental and humanitarian causes., To date it’s donated more than $4 million to 45 charities, and its latest donation is one of its largest yet. Karmagawa will contribute half a million dollars and Sykes another half a million to make up the $1 million pledge to families and children in Yemen. Sykes’ philanthropy has been bolstered by a profitable year on the stock market, with his $500K contribution coming out of his trading profits for June and July.
Image source: nypost.com
Sending Support to a Crisis-Hit Country
Yemen has been stricken by an ongoing civil war that’s led to food shortages, desperate poverty, and lack of access to basic services like schooling. The situation has been exacerbated by a cholera outbreak followed by the coronavirus, which has been particularly virulent among the country’s young population.
Here are the “before” photos from some of the families being helped by the $1 million donation my charity @karmagawa has given to people in need in Yemen w/great partners like @PartnersRelief & @monarelief & I’m proud to donate ALL my trading profits to URGENT causes like this! pic.twitter.com/MTmVcW3bdw
— Timothy Sykes (@timothysykes) August 15, 2020
Funds donated by Karmagawa will provide direct aid to Yemeni families. In addition to providing food packs, the initiative will support the building of new schools, something Karmagawa has extensive experience of; to date it’s built more than 70 schools around the world, and has expressed the goal of ultimately bringing that total to 1,000. Other initiatives the organization is involved with include a campaign to clean up an oil spill off the coast of Mauritius. The project is almost halfway towards its $200k crowdfunding goal.
Penny Stocks Millionaire Goes All in on Philanthropy
Timothy Sykes is a penny stock trader best known for making more than $1.6 million trading stocks while attending college. He is also known for reality TV show Wall Street Warriors, playing an opinionated hedge fund manager. He’s since branched into teaching, and today furnishes aspiring traders with the skills to master his craft.
Today, Sykes is focused on philanthropic efforts, donating all of his trading profits to charity. In addition to building schools, the $4 million Sykes has donated has been used to support medical and animal rescue centers. The trader has leveraged his large social network to highlight causes that are dear to his heart, and grown Karmagawa’s Instagram following to over 1 million.
Now, he’s turned his attention to the plight of Yemeni children, with Karmagawa set to match his $500,000 donation with contributions from its social media community and merchandise sales. Food packs to feed families in the region, distributed by charity partners like Partners Relief and Mona Relief, will provide immediate relief as the population recovers from the debilitating effects of the coronavirus.