5 things to know about Chinese crypto entrepreneur Justin Sun, who paid US$4.57 million for lunch with Warren Buffett
Chinese entrepreneur hopes to change legendary American investor’s stance on cryptocurrency and blockchain
What would you do if you had millions of dollars? Buy a private island, build a mansion or make an investment? Chinese cryptocurrency millionaire Justin Sun Yuchen, who is reputed to be worth US$200 million, according to networthreporter.com, chose to spend US$4.57 million for a lunch. But not just any lunch. The 28-year-old entrepreneur secured a seat with legendary investor, Warren Buffett.
Sun used his social media to reveal more about the bid that bagged him a “record-setting 20th-anniversary charity lunch”, hosted by Buffett. With a plan to invite several blockchain industry leaders along with him to meet the titan of investment, Sun hopes the meeting with Buffett will bring “benefit to everyone”. The money will go to the Glide Foundation charity – which serves the poor, homeless and those battling substance abuse.
Here are 5 things to know about the Chinese cryptocurrency pioneer.
1. He is Jack Ma’s protégé
Not only did Sun graduate with a bachelor of arts degree in history from Peking University in 2011 and a master of arts in political economy from the University of Pennsylvania in 2013, he also graduated from Hupan University in 2018. Founded by Jack Ma, executive chairman of the Alibaba Group (which owns South China Morning Post), Hupan University is dedicated to teaching and mentoring entrepreneurs. Justin Sun was recognised as the first millennial to graduate.
2. He launched a voice streaming app in China
The world has become smaller with China’s self-developed social media apps such as WeChat, TikTok and Huoshan video. Back in 2014, Sun created his very own voice live streaming app Peiwo, which allows strangers to connect with peers who have similar interests through short voice clips. Designed to minimise the judgement or attraction based only on appearance, the application encourages users to communicate their thoughts through their voices. Sun wants to build Peiwo as the go-to communication and payment app for Gen Z.
3. He created his own cryptocurrency company
Launched in 2017, the TRON Foundation (and TRON Protocol) is a blockchain-based operation system that ranks 12th out of 100 cryptocurrencies by market capitalisation (US$2,030,180,393). With headquarters in Beijing and San Francisco, the company’s mission is to achieve a decentralised internet and infrastructure.