CHINA’S RICHEST MAKE DONATIONS OF US$130 MILLION AFTER FIRST WEEK EQUIVALENT TO 10.8% OF TOTAL DONATIONS RECEIVED BY THE MINISTRY OF CIVIL AFFAIRS
● At least 73 of the Top 100 individuals on the 2007
Hurun Rich List have made donations to date totaling US$120 million Source: Ministry of Civil Affairs, Sohu, Sina and other government sources
● All of the Top 10 have made donations, totaling
US$35 million
19 May 2008, Shanghai. Today, Hurun Research Institute published a report on
‘Earthquake Donations by China’s Richest One Week after the Disaster’.
At least 73 of the 100 individuals on the 2007 Hurun Rich List have donated a
total of US$120 million after the first week of the Earthquake. All 10 of the
Top 10 made donations, amounting to US$35 million. “The Earthquake is a
watershed for corporate social responsibility in China,” says Rupert Hoogewerf,
head of the Hurun Research Institute. “These figures represent the donations
made as of the end of the first week after the Earthquake. I expect these
figures to grow substantially as the entrepreneurs work out how to make their
donations most effective.”
The donations from the individuals on the Hurun Rich List are the equivalent of
10% of the total donations received by the Ministry of Civil Affairs, which
announced that it had received donations of US$1.2 billion as of 1pm today. It
is important to note that the Ministry of Civil Affairs does not include the
donations received under the Red Cross and other non-Ministry of Civil
Affairs-controlled charities.
By comparison, the one hundred most generous individuals on the 2008 Hurun
Philanthropy List, issued in April this year, had donated US$1.8 billion in the
five years ending February 2008.
The State Grid is currently the largest single Chinese donor to the Earthquake,
donating US$30 million. The State Grid topped the 2008 Hurun Corporate Social
Responsibility Ranking put out in April 2008.
Methodology
This report records known cash donations only up to the evening of May 19. The
report does not separate out donations made by the entrepreneurs themselves and
their companies. Whilst we have made every effort to record the donations made
by the individuals on the Hurun Rich List, there may be individuals who have not
donated through official channels and are not recorded in the report.
Appendix
Earthquake Donations by the Top Ten from the Hurun Rich List
Company
Earthquake cash donations
(US$)
Entrepreneur’s name
Rank on 2007 Hurun Rich
List
Head Office
Citic Pacific
9,000,000
Rong Zhijian
6
HK
Suning
7,900,000
Zhang Jindong
9
Jiangsu
GoMe
7,100,000
Huang Guangyu
4
Beijing
Country Garden
1,900,000
Yang Huiyan
1
Guangdong
Hengda
1,600,000
Xu iayin
6
Guangdong
Fosun
1,400,000
Guo Guangchang
10
Shanghai
Shimao
1,400,000
Xu Rongmao
3
Shanghai
Nine Dragons Paper
1,400,000
Zhang Yin
2
Guangdong
R&F
1,400,000
Zhang Li
5
Guangdong
LDK Solar
140,000
Peng Xiaofeng
6
Jiangxi
For more on the 2007 Hurun
Rich List
For more on the 2008 Hurun
Philanthropy List