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Large Donation Made by Chinese Tycoons

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Large Donation Made by Chinese Tycoons

50 tycoons donated S$205m to China varsities

Bildquelle: sxc.hu A ranking of Chinese tycoons' donations to their alma maters has been released, following the controversy over Chinese entrepreneur Zhang Lei who gave a record US$8,888,888 (S$12.5 million) to Yale University in the United States. The ranking, published by an independent Chinese website, included more than 50 tycoons who donated a total of over one billion yuan (S$205 million) to the Chinese universities they attended.

The website www.cuaa.net, which focuses on alumni affairs, carried out research on tycoons listed in five rich lists, including Hurun and Forbes, from 1999 to last year, and found alumni from Zhejiang University 'the most generous'.

Mr Duan Yongping, 49, a tycoon involved in the electronic appliance business, topped the list for having donated 248 million yuan to Zhejiang University. Mr Duan, who studied at Zhejiang University from 1977 to 1982, ranked 71st on the Forbes rich list in 2003 and 340th with a fortune of three billion yuan on last year's Hurun rich list.

Four graduates from Qinghua University took second place by making a joint donation of 220 million yuan to the school in 2008.

Mr Huang Nubo, 54, a real estate tycoon, came in third by donating landed property worth 100 million yuan to Beijing University.

Mr Zhao Deguo, editor-in-chief of cuaa.net, said the researchers mainly drew their data from public information, which would have left out anonymous donors.

External link: http://news.asiaone.com/News/Education/Story/A1Story20100127-194795.html

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