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Denise Tsang

One of Hong Kong' s richest people, Ronnie Chan Chichung, flew to Los Angeles last night bearing a donation of undisclosed proportions for a university.
Chan, chairman of property developer Hang Lung Group, said the donation - the second in about a week by the family foundation - was part of a plan under which all the family wealth would be given to charity, leaving nothing to his children.
The donation to the University of Southern California follows a US$350 million gift to Harvard 's school of public health, the largest in the university's 378-year history.
Before leaving, Chan took a swipe at Microsoft founder Gates and Berkshire Hathaway chairman Buffett.
"It is shameful they came to China four years ago and advised mainland businessmen on creating wealth and philanthropy," he told the South China Morning Post. "They didn't do their homework on the market."
He was referring to the pair's visit in 2010 in which they urged the super-rich to give to charity.
Chan said the establishment of Morningside Foundation in 1986 by him and brother Gerald Chan Lok-chung meant he and his family had been ahead of other billionaire philanthropists in giving away their personal fortunes.
As a result of the Harvard donation, the university's health school will be renamed the Harvard T.H. Chan School of Public Health after the brothers' late father, Hang Lung founder Chan Tseng-hsi.
"In the final days of my late father in 1985, our family came to an unwritten consensus to donate the family wealth to charities except a certain amount to meet our mother's needs," Chan said. "I won't leave any money to my children."
Morningside Foundation is part of Morningside, an investment and venture capital group whose holdings include a stake in smartphone maker Xiaomi.
Chan said the foundation would focus on education and public health. Asked if his children would take part, he said: "People who don't know how to make money cannot be involved in giving it away."
His eldest son, Adriel, is a senior Hang Lung manager, while the other, Adley, focuses on research on occupational therapy at the University of Southern California.
As well as the property empire, Chan also inherited his father's Christian beliefs. "We intentionally keep our charity donations low profile, which has something to do with our Christian belief," he said.


Ronnie Chan Chichung's donations to university, the second in a week

Ronnie Chan, bearing a second donation. Photo: Sam Tsang

News

Hong Kong

One of Hong Kong's richest people claims to have trumped Bill Gates and Warren Buffett


One of Hong Kong' s richest people, Ronnie Chan Chichung, flew to Los Angeles last night bearing a donation of undisclosed proportions for a university.
