Who’s China’s most generous billionaire? Well, it’s not who you might think ...
Wang Miaotong, little-known boss of a car-parts manufacturer in Zhejiang province, tops 2015 Generosity Index of mainland’s wealthiest people with 101 million yuan donation – 5.6 per cent of his net worth
Who is China’s most generous billionaire? The winner is Wang Miaotong, the relatively little-known boss of a car-parts manufacturer in Zhejiang province, according to the results of a United States research project at Harvard University.
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Wang, 59, who is chairman of Century Huatong, topped the 2015 Generosity Index featuring the wealthiest individuals in mainland China, after he donated 101 million yuan (HK$118 million) – 5.6 per cent of his publicly disclosed net worth, according to the findings of the Ash Centre for Democratic Governance at Harvard Kennedy School.
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Chen Guangbiao, the recycling entrepreneur and philanthropist, is not included in the study.
In terms of absolute total amount donated, He Xiangjian, the founder of home appliance maker Midea Group, topped the 100-person list by donating 400 million yuan in the year to August 31, 2015.
Wang, the chairman of Wanda Group, ranked second by giving away 315 million yuan. Jack Ma, the chairman of Alibaba, ranked ninth on the giving list, donated 132 million yuan.
However, Chinese rich’s philanthropic commitments are still tiny by Western standards.
Mark Zuckerberg, the co-founder and chief executive of Facebook, and his wife Priscilla Chan, announced two months ago that they would give 99 per cent of their Facebook shares, worth more than US$45 billion, to “advancing human potential” and “promoting equality”.