China finds tribe of ‘billionaire philanthropists growing sharply’
1 Sept 2013 4:55 AM IST
Fans across the world know him for his martial arts prowess but few are aware that Hollywood action-man Jet Li has another side to him. Li’s One Foundation — which he founded after he narrowly missed being drowned during the Indian Ocean tsunami in 2004 — recently raised almost 90 million yuan (about Rs 90 crore) for carrying out rehabilitation work in the Ya’an area of Sichuan province which was hit by a massive earthquake in April this year.
Li is one of the more high-profile faces of a growing tribe of Chinese billionaire philanthropists.
According to Shanghai-based research firm Hurun, China surpassed the US this year as the country with the maximum number of billionaires. Many of them — like real estate tycoon Hui Ka Yan who topped the Forbes 2013 China philanthropy list with almost $68 million donations — are now beginning to give back to the country through non-profit projects.
Some like Wang Jianlin, chairman of Dalian Wanda Group, which among other businesses, owns the largest chain of movie-theatres in the country, pledged $150 million to help rebuild the Porcelain Tower, a historic temple dating back to Ming Dynasty. Billionaire Chen Guangbiao has also taken up serious charity.
Li is one of the more high-profile faces of a growing tribe of Chinese billionaire philanthropists.
According to Shanghai-based research firm Hurun, China surpassed the US this year as the country with the maximum number of billionaires. Many of them — like real estate tycoon Hui Ka Yan who topped the Forbes 2013 China philanthropy list with almost $68 million donations — are now beginning to give back to the country through non-profit projects.
Some like Wang Jianlin, chairman of Dalian Wanda Group, which among other businesses, owns the largest chain of movie-theatres in the country, pledged $150 million to help rebuild the Porcelain Tower, a historic temple dating back to Ming Dynasty. Billionaire Chen Guangbiao has also taken up serious charity.
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