Oscar Tang
Oscar Liu-Chien Tang is a Chinese-born American financier who co-founded Reich & Tang, an asset management firm. Tang was elected a fellow of the American Academy of Arts and Sciences in 2005. Prior, he was appointed to the New York State Council on the Arts from 2000 to 2004 and the President's Committee on the Arts and Humanities from 1990 to 1993.
Early years
Tang was born in Shanghai, China, and his family fled from the country when the Communist revolution took over in 1949. Tang attended Phillips Academy in Andover and graduated in 1956. His future wife, Frances Young, attended Andover's sister school, Abbot Academy, and she went on to Skidmore College. Tang's lifelong dedication to Andover as the largest donor in the school's history and a champion for education was profiled in a 2012 documentary "An Andover Life".Tang was a member of Delta Kappa Epsilon at Yale University and received a Bachelor of Science degree. In 1960, Tang married Frances Young. Tang received an M.B.A degree from Harvard Business School. His wife graduated from Skidmore in 1961.
Tang's maternal grandfather was Wen Bingzhong, one of the 120 young boys sent by the late Qing imperial court to study in America during the Chinese Education Mission established by China's first student to graduate from an American University, Yung Wing. Tang's grandfather was the first Chinese person to be documented in the Northampton, MA census in 1880. After his return to China, he later served as a high-level foreign service official. Tang's father was Tang Ping-yuan, a Boxer indemnity scholarship student at the Massachusetts Institute of Technology who became one of the early civic and business leaders of post-1949 Hong Kong; he was also a leading philanthropist in education. He was widely respected for his business success and as a civic leader. Tang received many honors in his lifetime including Justice of the Peace and Order of the British Empire. He died in Hong Kong in 1971. Oscar Tang has talked about his family's roots in American education publicly and attributes his own experience and philanthropy to his family history.
Business career and family
Tang began his career at Donaldson, Lufkin & Jenrette, or DLJ. After the Tiananmen Square Massacre in 1989, Tang worked with other high-profile Chinese-Americans to found the Committee of 100, including Yo-yo Ma and I.M. Pei, to "encourage rapport and understanding between two countries."Tang's wife Frances Young Tang was a philanthropist who specialized in landmark preservation. In 1992, she died at the age of 53 from cancer. A gallery at the Metropolitan Museum of Art is named after her, as is the Tang Art Museum at Skidmore College, her alma mater. She was a stepdaughter of the Chinese diplomat Wellington Koo. In 2013 Tang married Dr. Agnes Hsu-Tang, a Penn-, Cambridge-, and Stanford-educated archaeologist and UNESCO advisor on the faculty at Columbia University. Hsu has been dubbed by the Chinese press as "China's Lara Croft" for her hosting of the award-winning documentary series Mysteries of China. Chinese and Singaporean press has widely reported that Hsu is a descendant of the Ming dynasty Catholic imperial minister Xu Guangqi :zh:徐光启|徐光启 who was beatified by the Vatican on April 15, 2011 and regarded by many to be the founder of modern Shanghai. Xujiahui 徐家汇 is the historical center of Shanghai. Hsu's maternal great-grandfather was Ji Xiaolan :zh:紀昀|紀晓岚, the Qianlong Emperor's imperial minister of war and poet laureate. Tang's daughter Tracy Tang Limpe is a philanthropist and the chairman of the board at the Masters School in Dobbs Ferry, NY, her alma mater. Another daughter, Dana Tang, an architect, married Andrew Haid Darrell in 1998. Tang's brother was Jack Chi-chien Tang, a prominent business leader, educator, philanthropist in Hong Kong and one of the founders of the Asia Society Hong Kong Center in 1990. Tang's brother-in-law was the distinguished Princeton University professor, Dr. Wen Fong, who was attributed to have "helped to create and shape the academic field of East Asian art history as we know it today."
Tang resides in New York City and Vail, Colorado with his wife. Tang was honored as Vail Valley's Citizen of the Year in 2004.
Town and Country featured Tang and his family as one of the fifty most influential families in media, art, and culture in its 2018 T&C50 issue.
Philanthropy
According to published data, Tang has given away $200–250 million as of 2010. Among other recognitions for his philanthropy, Tang is an honoree of the Carnegie Corporation's "Great Immigrants: The Pride of America." Tang is known to be a significant donor to institutions such as the Metropolitan Museum of Art, the New York Philharmonic, Yale University, Skidmore College, the , the Gordon Parks Foundation, and other organizations. Tang has also contributed to other institutions including the Tang Center for Early China at Columbia University, the Princeton University's P.Y. and Kinmay W. Tang Center for East Asian Art, the Tang Center at MIT, Duke University, University of California, Berkeley, Cornell University, and Harvard University. In 2008, he gave $25 million to Phillips Academy in what was the school's largest ever single contribution. In 2014, he donated an additional $15 million to Andover to establish the Tang Institute at Andover. At The Rectory School in Pomfret, Connecticut, Tang donated the P.Y and Kinmay Tang Performing Arts Center and has created the Tang Family Endowment for Excellence in Teaching with $5 million.In June 2016, Tang was honored by the Metropolitan Museum with its Business Committee Civic Leadership Award for his service and contribution as a longtime trustee and philanthropist.
Phillips Academy and the Tang Institute at Andover
In 2008, Tang gave $25 million to Phillips Academy. It was the largest single donation in the school's 230-year history. The gift was used to support "need-blind admission" allowing smart students from less affluent families to attend the elite boarding school, according to headmaster Barbara Landis Chase. As of 2008, Tang has contributed close to $41 million to Phillips Academy, helping boost the school's endowment over $800 million. Before being instated as the President of the Phillips Academy Board of Trustees, he was a charter trustee since 1995 and a major school volunteer for over two decades. He was instrumental in preserving the buildings and campus of the former Abbot Academy, which merged with Phillips Academy, when there had been discussion about razing the no-longer-used structures; Tang's philanthropy gave funds for preservation of these buildings.In October 2014, Tang gave an additional $15 million to establish the Tang Institute at Andover. "A physical and virtual hub for entrepreneurial exploration, the Tang Institute at Andover supports community ideas for innovative approaches to teaching and learning. Focused on the Andover experience and advances in secondary education more broadly, the Institute encourages experimentation, interdisciplinary collaboration, new partnerships, connected learning, and ongoing assessment. By harnessing the intellectual curiosity and creativity of faculty and students—both in and out of the classroom—the Tang Institute seeks to have a lasting impact on campus and beyond."
Metropolitan Museum of Art
Tang is a member of the board of the Metropolitan Museum of Art in New York. He gave $14 million in 1997 to enable the museum to purchase rare and valuable Chinese paintings, most notably what is commonly known as the Riverbank by Dong Yuan. His gift included 11 major paintings from the C.C. Wang collection and additional funding toward Chinese art galleries. A gallery is named after Tang's late wife, Frances Young Tang.In March 2015, Tang, the first Chinese-American trustee of the Metropolitan Museum of Art for more than 20 years and a leading patron of its Chinese collection, gave an additional $15 million to create new curatorial and conservation staff appointments and programming to the Museum's Asian Centennial.
Tang received the Met Museum's Civic Leadership Award in June 2016.