As seasoned investors, we recognize the critical role of diversification in wealth accumulation. Bear markets and corrections are part of the financial landscape, making it unwise to concentrate investments in a single asset class. But what if we applied this principle to our identities? Could “Identity Diversification” enhance not only our lifestyles but also our opportunities and wealth?
This concept had never crossed my mind until I became a father. The moment I saw my children’s birth certificates, I was compelled to reflect on their identities and the implications for their futures.
While merit remains paramount in achieving success, my time on Wall Street taught me that effort correlates with growth—until the advent of AI shifted the landscape. Recently, it has become evident that identity also plays a significant role. For those fortunate enough to have a multicultural background, embracing identity diversification can serve as a powerful tool for both survival and success.
Neglecting My Hawaiian Ancestry For Too Long
Becoming a father—and experiencing the pandemic—made me acutely aware of how much I had overlooked my Hawaiian heritage. My mother hails from Taiwan, and my experiences there, including minoring in Mandarin and working in Asian equities, have deeply rooted my identity in Taiwanese culture.
My passion for language and culture led us to enroll our children in a Mandarin immersion school. There’s something enchanting about dreaming in another language; fluency opens doors to living in two worlds, a unique advantage as we age.
Ironically, the only skills I actively utilize from college are Mandarin and negotiation. The rest, like the periodic table, has faded into obscurity.
Why I’m Refocusing on Hawaiian Ancestry
The birth of my son in 2017 prompted me to consider our family’s cultural blend more seriously. While we see him simply as our son, he embodies a rich heritage—my wife is German, Irish, and Japanese.
On my father’s side, my great-grandmother was 100% Native Hawaiian, making my grandmother half, my father 25%, me 12.5%, and my children 6.25%. Although I’ve visited Hawaii since 1977, I never immersed myself in its culture as I did with Chinese culture.
Part of this neglect stemmed from a lack of encouragement to attend Hawaiian school, compounded by my parents’ foreign service careers, which led us to move every few years. By the time I reached high school in 1991, I felt that my 12.5% ancestry didn’t grant me the right to identify as Hawaiian.
Then, in 2018, my perspective shifted.
Elizabeth Warren and the Question of Ancestry
In October 2018, Senator Elizabeth Warren faced scrutiny for identifying as Native American. She released a DNA test revealing a Native American ancestor six to ten generations back—approximately 1/64 to 1/1024 Native American, or about 0.1% to 1.6%.
Warren claimed the results validated her family stories but acknowledged that DNA alone doesn’t confer tribal citizenship, later apologizing to Cherokee Nation leaders. Her supporters viewed the test as validation of her minority status in law school directories from the late 1980s to mid-1990s.
As a minority who struggled for promotions, I found this frustrating. I would never claim Native American status based on such a small percentage. On forms, I’ve always identified as “Asian.”
Most Of The Country Is OK With It
Yet, a significant portion of the country accepted Warren’s claim. She remains a Senator today, and her identification as a minority didn’t seem to raise eyebrows. This challenged my long-held belief that one needed at least 50% ancestry to claim a race. Apparently, even 0.1% could suffice.
Ultimately, the opinions that matter most are those of Native Americans. However, as a father concerned about fairness for my children, I couldn’t ignore the implications. The acceptance of Warren’s actions prompted me to rethink my children’s identities, planting the seed for what I now term Identity Diversification.
DEI on Full Throttle, But Not for Asians
Following George Floyd’s death in 2020, diversity, equity, and inclusion (DEI) initiatives gained significant traction in various sectors. While I support DEI to an extent, as diverse perspectives can foster better discussions, I noticed that Asian Americans were often overlooked during this movement.
This exclusion motivated me to become more vocal when my book, Buy This, Not That, was published in July 2022. I aimed to uplift the Asian American community during challenging times.
On June 29, 2023, the Supreme Court struck down race-based affirmative action in college admissions, revealing that Asian American applicants needed significantly higher test scores than their peers. This moment marked a turning point for the DEI movement.
Teaching My Kids About Their Hawaiian Roots
Inspired by Warren’s example and the mixed outcomes of the DEI movement, I recognized the need to educate my children about their Hawaiian heritage. While it may be too late for me, at 48, my children still have ample time to learn about their roots.
We enrolled them in a five-week summer program in Honolulu, which included Hawaiian classes. This enriching experience is just the beginning; we plan to return every summer and winter until they graduate high school, hoping they will immerse themselves in Hawaiian culture and find ways to contribute to the community.
For instance, Jack Johnson, a singer from Oahu, has made significant contributions to environmental education and conservation. Although not Hawaiian by blood, he embodies the spirit of giving back. In contrast, Elizabeth Warren’s actions seem to lack genuine contributions to the Cherokee community.
Identity Diversification Helps You Blend In With The Times
Identity diversification may be even more crucial than investment diversification, as it directly influences opportunities. If your identity hinders your access to quality education or employment, you may struggle to save and invest for the future. While it’s unjust to be judged based on identity, it’s a reality we must acknowledge and navigate.
Let’s explore how identity diversification can facilitate survival and success.
1) New President Of The United States
Imagine if an Asian American becomes the next President. This could lead to increased representation in cabinet positions and media coverage. You might find it advantageous to embrace your Asian heritage.
People often favor those with similar backgrounds, which explains why minorities often face challenges. Even in diverse cities, leadership circles can be surprisingly homogeneous.
2) New CEO At Your Company
Now, consider a Tongan CEO at your company. If you discover you have 5% Tongan ancestry, you could take a trip to Tonga, learn about the culture, and engage in conversations about the Tongan rugby team. This connection could foster a stronger relationship than with colleagues lacking that cultural link.
3) New Mayor in Town
What if your new mayor is Jewish and attended the same high school as you? Sharing a 6.25% Jewish ancestry could create a bond at a fundraiser, potentially influencing decisions on contracts and opportunities.
4) The Strong Return Of DEI
If the DEI movement regains momentum, you might consider emphasizing even a small percentage of your ethnic heritage to enhance your chances in competitive environments.
While merit remains the most critical factor, belonging to a sought-after group can provide a slight edge. The more identities you can authentically embrace, the more adaptable you become, allowing you to navigate an uncertain future.
Time To Learn More About Who You Are
Success requires hard work, intelligence, and a bit of luck. However, people naturally gravitate toward those with similar backgrounds, making it worthwhile to explore your ethnicity and heritage.
Even if you feel it’s too late for you, it’s not too late for your children. They will navigate an increasingly complex world. Unless you plan to be a solopreneur, relying solely on merit is naive. Building relationships and adapting to the prevailing powers is essential for survival.
What are your thoughts? Is identity diversification a smart strategy for advancement, or does it undermine merit? Have you experienced benefits or setbacks due to your identity? Should individuals highlight even minor percentages of their ancestry, or is there a threshold for claiming heritage? How much should identity weigh against merit in determining success?
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