2009 top ten news
Top 10 heart-warming moments 2009
(chinadaily.com.cn)
Updated: 2009-12-18 10:19
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8. Billionaire philanthropist
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 Cao Dewang. [File photo] |
If Cao Dewang was told at the age of 14 that he would one day be one of China's richest men, he probably would have laughed it off as a joke. Donating billions of yuan to charity wasn't even a thought to comprehend. At that year, he dropped out of school because his farmer father could not afford his education and he didn't know what destiny had in store.
Ranked by Forbes the 53rd richest man in China in 2008, the business tycoon from Fujian province, whose Fuyao group manufactures windshields for world-renowned carmakers like Volvo, Audi and Bentley, decided to give away 70 percent of his shares in the firm to charity.
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 Cao Dewang |
The shares amount to a staggering 4 billion yuan ($585 million).
"I have decided to set up a charity fund, named after my father, He Ren, for which I will donate 70 percent of my shares in the Fuyao group," Cao was quoted as saying in the Beijing Morning Post on Febuary 19, making the the 63-year-old the country's most charitable person, surpassing fellow entrepreneur Yu Pengnian.
The Ministry of Civil Affairs bestowed Cao with the title of one of "China's Top 10 Charitable Persons". So far, he has donated 200 million yuan to various charities, including 20 million yuan for the Sichuan earthquake disaster relief last year.
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