Chinese billionaires’ US$10m gift to Yale sparks online debate

A Chinese billionaire couple’s US$10 million gift to Yale University sparked controversy among the country’s internet users on Thursday, with some arguing that the money would be better spent on schools in China.

The endowment marks the latest gift to a prestigious US university by Pan Shiyi and Zhang Xin, the husband-and-wife duo behind real estate giant Soho China.

In July, the couple gave Harvard University US$15 million in the first stage of a US$100 million programme that Pan and Zhang say will fund disadvantaged Chinese students at top institutions across the globe.

“Every person’s potential is like a hidden gem, and education is the tool that unlocks human potential,” Pan said in a statement on Wednesday announcing the Yale gift.

“The Soho China Scholarships aim to provide the best possible educational opportunities to the most outstanding students from mainland China, enabling them to maximise their potential in their contribution to mankind,” he added.

But the reaction online was largely negative, with some users criticising the couple for not giving the money to Chinese domestic institutions.

“They’re rushing to give money to foreigners, but what about all the poor children in China’s mountainous areas?” one user wrote on Weibo.