Chinese Tycoon Donates A Billion Dollars To Charity


Yu Pengnian

Real-estate tycoon Yu Pengnian has now moved his entire $1.2 billion fortune into his charity to help China’s poor.

He made a fortune in real estate, and now he’s giving it back. The 88-year-old tycoon has slowly been transferring his wealth to his Yu Pengnian Foundation, and now he’s gone the final step, pledging his final $470 million in cash and property to the charity. This makes $1.2 billion he has put into his charity since he opened it in 2003.

“This will be my last donation. I have nothing more to give away,” he said at a press conference announcing the final donation…

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