Yu Pengnian | |
|---|---|
| Born | November 21, 1922 |
| Died | May 2, 2015 (aged 92) Futian District, Shenzhen, China |
| Nationality | Chinese |
| Occupations |
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Yu Pengnian (Chinese: 余彭年) (1922–2015) was a Chinese real estate magnate and philanthropist.[1]
Early life
On 21 November 1922, Yu was born in Hunan province, China.[2] Yu grew up poor.[3]
Career
In 1945, Yu worked as a rickshaw driver in Shanghai, China.[4]
In the 1957, Yu started his working life in Hong Kong as a cleaner.[5][3][4] In the 1960s, Yu was a construction worker. Yu followed his boss to Taiwan and started a property business.[3]
In 1973, Yu invested in the stock market including junk stocks and lost everything.[4]
In 1974, Yu bought the property, former home of Bruce Lee, in Kowloon Tong, Hong Kong. Yu converted it into a "love hotel" where rental fee was by hourly.[6]
In 2000, Yu opened Shenzhen Panglin Hotel in the Lo Wu District of Hong Kong.[3]
Yu made his money as a Shenzhen hotel and real estate entrepreneur.[7]
Philanthropy
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Yu founded the Yu Pengnian Foundation, which donates money to several different causes, usually for health, education and disaster relief. He himself suffered with cataracts and his charity has funded over 150,000 cataract removal operations across China since 2003.[8] It has also had a hand in setting up numerous Project Hope schools in the western rural areas of China.
In 2008, Yu gave away a property (valued $18 million HK in 2010) which became the Bruce Lee museum in Kowloon Tong neighborhood of Hong Kong.[3]
In April 2010, at 88 years old, Yu announced that he donated his remaining fortune of $3.2 billion yuan to the Yu Pengnian Foundation. In all, his entire life fortune of $8.2 billion Chinese yuan ($1.2 billion HK) have been donated to the foundation.[7][9] HSBC is designated as the trustee of the foundation.[3]
Personal life
In 1945, Yu moved to Shanghai, China. In 1953, Yu was arrested and sent to a labor camp for three years in Anhui, China.[4] In 1957, Yu was approved to leave China and moved to Hong Kong, but he was unable to communicate in Cantonese nor English.[6][4]
Yu had suffered with poor eye sight due to cataracts, and was one of the richest people in Guangdong province, China.[10]
Yu was married and had two sons. Although Yu's surname is Yu, however, his son and grandson's surname is Pang. Yu's son is Pang Ah-fan.[6]
In 1980s, Yu moved to the Shenzhen area of China.[3]
In May 2015, Yu died in Shenzhen, China. He was 92.[1][2] Yu had instructed in his will that at the time of his death, his properties and assets will be donated to charitable trust fund.[1]
Yu's grandsons are Pang San-hon and Pang Chi-ping, who is his trustee.[6]
See also
References
- 1 2 3 "Chinese Philanthropist Dies, Leaving No Money to Family". China Radio International. 5 May 2015. Archived from the original on 23 July 2015. Retrieved 1 November 2018.
- 1 2 "Chinese philanthropist dies leaving no money to family". China Internet Information Center. 6 May 2015. Retrieved 1 November 2018.
- 1 2 3 4 5 6 7 "88-yr-old You Panglin gives away his remaining fortune for charity". whatsonxiamen.com. 5 May 2010. Retrieved 1 November 2018.
- 1 2 3 4 5 "China's Philanthropist". asiasentinel.com. 13 April 2009. Retrieved 1 November 2018.
- ↑ McCambridge, Ruth (14 July 2014). "Another Billionaire Leaves All to Charity, Nothing to Family". Nonprofit Quarterly. Retrieved 1 November 2018.
- 1 2 3 4 "Lee home feature in $10b charity court win". TheStandard. 9 March 2018. Retrieved 1 November 2018.
- 1 2 MacKinnon, Mark (23 July 2010). "Chinese philanthropist donates it all". The Globe and Mail. Retrieved 24 July 2010.(bad link)
- ↑ "Malaysia Business & Finance News, Stock Updates - The Star Online". thestar.com.my.
- ↑ "Philanthropist's $1.2b donation unprecedented". chinadaily.com.cn. 23 April 2010. Retrieved 1 November 2018.
- ↑ "Turning down Gates & Buffet: Philanthropy in China requires For-Profit Social Enterprises". Forbes. 4 October 2010. Retrieved 1 November 2018.