The tycoon promises he will give away at least a third of his personal wealth Tycoon Li Ka-shing said his donations to charity would one day reach at least a third of his personal wealth. The pledge came yesterday after the multibillionaire was asked if he would follow philanthropists Bill Gates and Warren Buffett and donate more of his wealth to charity. 'The amount [going into the Li Ka Shing Foundation] will not be less than one-third of my personal wealth one day. Maybe even more,' he said at a Cheung Kong (Holdings) press conference. Mr Buffett announced in June that he was giving away the bulk of his US$40 billion fortune to Bill and Melinda Gates' charitable foundation. In March, Mr Li returned to the top 10 richest people's list with a fortune of US$18.8 billion, Forbes magazine rankings show. Controversy erupted last year when Hong Kong's richest man donated HK$1 billion to the University of Hong Kong Faculty of Medicine. The university later named the faculty after Mr Li, enraging some graduates. Mr Li did not elaborate on the final amount of money he would commit to the Li Ka Shing Foundation he has set up for charity. The tycoon said the foundation had already spent up to HK$8 billion. He said he did not mind spending his money on charity as long as it was for a good cause. Unlike his outspoken remarks at previous media sessions, Mr Li yesterday made clear from the beginning that he was not prepared to comment on 'personal matters', in an apparent reference to growing speculation over his younger son Richard Li Tzar-kai's business dealings. While Mr Li refused to comment on the prospect of universal suffrage in 2012 and the latest political moves of former chief secretary Anson Chan Fang On-sang, he again praised Chief Executive Donald Tsang Yam-kuen. He commended Mr Tsang for his dedication and sincerity in serving Hong Kong. 'I am fully confident that the chief executive is serving wholeheartedly and does whatever is good for Hong Kong,' he said. On his choice of chief executive, he said he would support anyone who loved Hong Kong, was competent, able to keep his promise and build a better future for Hong Kong. Credibility and impartiality were also essential qualities, he added. He said he did not want to express his views on many issues in public, saying disclosure might be damaging to Hong Kong. 'I have my views in my mind. Anything I say would make explosive news tomorrow ... If it's not conducive to Hong Kong, why do you say it?' he asked. He said any electoral proposal should be 'loyal' to the Basic Law and serve Hong Kong well. While casino tycoon Stanley Ho Hung-sun has already voiced opposition to the proposed goods and services tax, Mr Li said he would not make any comment as the consultation was still under way.