Richest_Man_in_China
China’s rich men have been passionate about philanthropy. In the latest Hurun Report, China’s FORBES list, Ma Yun (Jack Ma), the richest man in China, is also the country’s most generous person.

Ma Yun is the founder and executive chairman of Alibaba Group, a family of highly successful internet-based businesses. In 2014, according to the Bloomberg Billionaires Index, with an estimated net worth of $29.7 billion, he was listed as the richest man in China and the 18th richest person in the world.

In 2014, Ma Yun donated 14.5 billion RMB to the improvement of the environment, medicine and health care, as well as education and culture. Thus, it’s the first time in China that the richest guy is also the most generous one.

Recently, donation for philanthropies has been popular among China’s wealthy businessmen. Cai Chongxin, the second largest shareholder in Alibaba Group donated 6.2 billion RMB to philanthropies and thus become the top philanthropist in the region of Hong Kong, Macao and Taiwan.

The new record of the donated funding has been reached recently. The donation made by the first 100 philanthropists on the Hurun Report of Philanthropy has increased 264 percent compared with that in the last year.

Except Ma Yun, the rest of the philanthropists on the list have donated 8.6 percent more than last year on average. The level of being nominated for the list has increased 1 million RMB than last year. On the list, there are 71 newly nominated philanthropists.

Most philanthropists donated to the educational area, which occupied 27 percent in all the philanthropic donations. The second popular area that people donated was social charity. At the same time, disaster relief and poverty alleviation are also the main donated areas.

In 2014, Ma Yun and Cai Chongxin established two charitable trust funds based on their share holdings in Alibaba Group. After the Initial Public Offering, these two charitable trust funds are worth over $2 billion.

According to Ma, these two trust funds will be dedicated to pollution control and medical industry in China.

“I want to live in a world with bluer sky, cleaner water and better health care. I concern a lot about the environment, medical care and education in China, but only concerning can’t help. I’m passionate about contributing into and solving those problems.” Said Ma, a founder of charitable trust funds.

The establishment of two charitable trust funds made Ma Yun and Cai Chongxin known among worldwide famous philanthropists. In the press conference, Ma Yun received congratulations from many celebrated philanthropists, such as Bill Gates, Warren Buffett and Michael Bloomberg.

“Their donations set the new standard for the philanthropy in China, and other businessmen and business leaders are very likely to follow them.” Said Bloomberg.

Shengyu Wang

Sources: Sina, Hurun Report, Financial Times China
Photo: Wikimedia