Written by The Business Journal Staff
(AP) — A California billionaire has donated $5 million for flood relief efforts in San Jose.
Kieu Hoang is a one-time refugee from Vietnam who built a fortune in medical products.
He presented a check to city officials Wednesday. The money will go toward a relief fund that counts the American Red Cross, Catholic Charities, and the Salvation Army among its recipients.
City officials ordered more than 14,000 residents to evacuate part of the city last week as water flooded homes and temporarily shut down a portion of a major freeway.
Assistant City Manager David Sykes said earlier this week that an initial estimate put the damage costs at $73 million in the city alone.