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Hurun Philanthropy List 2012
Hurun Report        2012-05-08        Back

 

GLASS KING CAO DEWANG DONATES US$580M TO BECOME CHINA’S MOST GENEROUS

 

l  Cao Dewang is China’s most generous philanthropist, donating US$580 million last year, followed by Xu Jiayin with US$120 million and Wang Jianlin with US$44 million

l  Universities biggest receiver of donations, led by Tsinghua University, Peking University, Xiamen University and South China University of Technology

l  Total donations decreased by 17% to an average of US$16m; five-fold increase from that of 2004 when list was founded

l  Of the 100 philanthropists, 57 were also on theHurun Rich List 2011, with six from the Top 10.

l  Average donation of 1.3% of personal wealth.

l  35% have personal charitable foundations

l  Over half now make donations in own name, rather than through the company

l  South Chinese most generous, led by Guangdong and Fujian.

l  Property is biggest source of wealth of top philanthropists

 

 

(8 May 2012, Shanghai) The Hurun Research Institute today released the Hurun Philanthropy List 2012, the ninth edition since the list was founded in 2004. The Hurun Philanthropy List 2012 ranks the 100 most generous Chinese individuals, measured by the value of their cash or cash equivalent donations from 1 January 2011 to 31 March, 2012. Donations made by a corporate in which an individual has more than a 50% holding, are also recognized as being a part of that individual’s personal donation.

 

 

China’s Top Three Philanthropists

With donations totaling US$580 million, Cao Dewang and family retain the title of ‘China’s Most Generous Philanthropist’. Two property tycoons, Xu Jiayin and Wang Jianlin follow on in second and third place. Xu enters the Top 10 for the first time with a US$120million donation, followed by Wang, who drops down one place to third.

 

In April 2011, ‘Windscreen King’ Cao donated 300 million shares of his listed company Fuyao Glass, with a then market value of US$563 million, to his private ‘Heren Foundation’, named after his father.

 

This past year, the Heren Foundation spent US$32 million on building a business school for Cao’s alma mater Xiamen University. Then, in July 2011, Cao gave US$13 million to his hometown at Fuqing City towards reconstruction of historical sites.

 

Since his first donation in 1983, Cao has donated US$800 million.

 

Cao has a personal fortune of US$1.2 billion, ranking him at 187 on the Hurun Rich List 2011. Cao’s donations over the past year account for 67% of his wealth.

 

 

Xu Jiayin, 54, takes second place with US$120 million worth of donations, and enters the Top 10 for the first time.

 

Over the course of the year, Xu has mainly been making donations towards improving social welfare. In May 2011, he donated US$39 million to the Guangzhou City Hall to assist construction in the northern mountainous area of Guangzhou, as well as other construction projects relating to hospitals, theatres, resettlement housing and a tourism street, helping out 30 villages and 5000 people.

 

On 9 June 2011, Xu donated US$3 million to the Industry and Commerce Department of Guangdong to support the livelihood of residents in Qingyuan and other areas. Later that month on the 25 June, Xu committed to donating US$48 million towards alleviating poverty in Guangdong. That month, Xu also gave US$5 million more in donations to the Chinese Foundation for Poverty Alleviation to set up education funds for underprivileged university students.

 

Xu Jiayin has a personal fortune of US$7.3bn, ranking him at fifth place on the Hurun Rich List 2011. Xu’s donations over the past year account for 2% of his wealth. Xu is a delegate to the 11th CPPCC National Committee.

 

 

Coming in third is 58 year old Wanda Group chairman Wang Jianlin, with donations in the past year totaling US$44 million to add to his donations last year of US$159 million towards the reconstruction of the Jinling Temple in Nanjing.

 

In February 2011, Wanda Group donated US$32 million to build the ‘Chengdu Seventh Wanda School’, by far the largest contribution to secondary education in the past year. November of that same year saw Wanda Group donating US$8 million to aid disadvantaged social groups.

 

Wanda Group’s donations count as Wang’s personal donations, because Wang owns more than 50% of the shares of Wanda Group.

 

Wang has a personal fortune of US$7.1bn, ranking him sixth on the Hurun Rich List 2011. Wang’s donations over the past year account for 8% of his wealth.

 

 

Chairman and Chief Researcher of Hurun Report, Rupert Hoogewerf, said, “Donating to education – particularly back to the universities they studied at – is far and away the most popular cause for charitable donations for Chinese entrepreneurs, especially in a year without a major natural disaster.”

 

 

Overview of the List

The Hurun Philanthropy List 2012 ranks the 100 most generous Chinese individuals. The cut-off of this year’s list was US$3 million, an increase of 25% from that of 2011.

 

Total donations made by the 100 philanthropists amounted to US$1.6bn million, with an average of US$16 million, a 17% decrease from 2011 mainly due to the decrease in natural disasters. It should be noted that the average donation has increased five-fold since the first list in 2004.

 

Of the 100 philanthropists, 57 were also on theHurun Rich List 2011, with six in the Top 10. These entrepreneurs included: Xu Jiayin, Wang Jianlin, Wu Yajun, Yang Huiyan, He Xiangjian and Zong Qinghou.

 

On average, each philanthropist donated 1.3% of their wealth last year. But if you disregard the donations made by the top two philanthropists Cao Dewang and Xu Jiayin, then the average donation drops to 0.8% of their personal wealth.

 

 

History of the Hurun Philanthropy List

Year

No. of indiv.

Total Donations that year

US$m

Average Donation US$m

Top 50 Cut-Off

US$m

Donation of Top Philanthropist

US$m

Top Philanthropist

2012

100

1,600

16

6.3

580

Cao Dewang and family

2011

100

1,920

19

4.8

727

Cao Dewang and family

2010

100

1,300

26

1.7

508

Yu Pengnian

2009

50

620

12

2.3

135

Huang Rulun

2004

50

160

3

0.5

33

Huang Rulun

 

For further details on previous year’s Philanthropy Lists, see

Hurun Philanthropy List 2011: http://www.hurun.net/zhcn/NewsShow.aspx?nid=90

 

 

20 philanthropists have donated more than RMB 100m (equivalent to US$16 million) over the past year, a reduction of three individuals from that of last year

 

Xu Jiayin, Huang Wenzai, Lin Xiucheng and his son Lin Zhiqiang, Xu Zengping and Sun Yinhuan have entered this year’s Top 10 for the first time, with Lin Xiucheng and son Lin Zhiqiang, and Xu Zengping being entirely new to the list.

 

 

Top 10 Hurun Philanthropy List 2012

Rank

Name

Donations US$ m

Age

Main Source of Wealth

1

Cao Dewang & family

580

66

Glass

*2

Xu Jiayin

120

54

Real Estate

3

Wang Jianlin

44

58

Real Estate

4

Huang Rulun

40

61

Real Estate

*5

Huang Wenzai

38

59

Real Estate

*6

Lin Xiucheng & Lin Zhiqiang

35

61

Steel, LED

*7

Xu Zengping

32

60

Real Estate

8

Hou Changcai

30

56

Real Estate

9

Zhu Mengyi & family

27

53

Real Estate

*10

Sun Yinhuan

22

63

Real Estate

* new to Top Ten

 

8 of the Top Ten are from Real estate.

 

4 of the Top Ten are from Fujian Province.

 

 

The Rest of the Top 10

Huang Ruluncontinues to be the most consistent philanthropist on the Hurun Philanthropy List, making the Top Five every year since records began.  Last year, Huang donated US$40 million, mainly to cultural projects.

 

Following a former donation of US$16 million to the Henan Cultural Office intended for the construction of a Cultural Art Institute in central Henan, Huang contributed a further US$16 million towards this project. In addition, Huang gave US$5 million to Peking University for the establishment of the “Peking University and Huang Rulun Education and Economics Development Fund”.

 

Huang donated US$4 million to the Youth Career Development Fund of Guiyang and to the Ministry of Civil Affairs NGO Service Centers. Over the past 10 years, Huang’s donations amount to more than US$429 million to date.

 

Huang Rulun has a personal fortune of US$2.7bn, ranking him at 48 on theHurun Rich List 2011. Huang’s donations over the past year account for 17% of his wealth.

 

 

Fifth place on the Hurun Philanthropy List 2012 is Huang Wenzai, with personal donations in the past year totaling US$38million. This marks the first time Huang has made the Top 10 of theHurun Philanthropy List. Many of Huang’s donations are to projects in his hometown in Guangdong Province.

 

Huang Wenzaihas a personal fortune of US$2.5bn, ranking 57 on the Hurun Rich List 2011. Huang’s donations over the past year account for 15% of his wealth.

 

 

Father and son, Lin Xiucheng and Lin Zhiqiang make the list for the first time, shooting straight up to the Top Ten with donations last year of US$35 million, mainly towards their hometown.

 

Lin Xiucheng and his son Lin Zhiqiang have a personal fortune of US$1,980 million, ranking 77 on the Hurun Rich List 2011. Lin’s donations over the past year account for 18% of his wealth.

 

 

In April 2011, Xu Zengping donated US$32 million to Tsinghua University, for the construction of the “Tsinghua University Law Science and Technology Research Centre”, as well as the “Law and Science Building”. This donation is the largest contribution Tsinghua University received for their 100th year anniversary.

 

 

Another regular on theHurun Philanthropy List, Hou Changcai, donated US$30 million in January 2011 to projects in his hometown. Hou has donated US$48 million to date. His donations are mainly aimed at improving education, the elderly, poverty alleviation and social welfare.

 

Hou Changcai has a personal fortune of US$1.3bn, ranking 167 on the Hurun Rich List 2011. Hou’s donations over the past year account for 4% of his wealth.

 

 

Zhu Mengyi and familydonated US$27million last year, predominantly with a US$16 million donation in April 2011 to Tsinghua University for the purpose of building a “National Standard Research Development Centre”.

 

Zhu Mengyi and family have a personal fortune of US$4.1bn, ranking 28 on the Hurun Rich List 2011. Zhu and his family’s donations over the past year account for 3% of their wealth.

 

 

Another old face from the Hurun Philanthropy List, Sun Yinhuan, donated US$22 million last year, mainly to the city of Dalian, where he lives.

 

Sun Yinhuan has a personal fortune of US$1.2bn, ranking 187 on the Hurun Rich List 2011. Sun’s donations over the past year account for 6% of his wealth.

 

 

Education takes home lion’s share of donations

In a year void of big natural disasters, education and social welfare projects led the way for philanthropic donations, especially universities.

 

 

Distribution of Donations By Cause

 

Cause

2012 %

2011 %

Name

Company

Donation US$m

1

Education

 

36%

24%

Cao Dewang & family

Fuyao Glass

32

Wang Jianlin

Wanda

32

Xu Zengping

Chuanglv

32

2

Social Welfare

32%

29%

Cao Dewang & family

Fuyao Glass

530

3

Poverty Alleviation

20%

9%

Huang Wenzai

Star River

19

4

Culture

5%

7%

Huang Rulun

Century Golden Resources Group

16

5

Disaster Relief

3%

26%

Chen Dewei

Southwest Region mining Holding Co

0.5

6

Environmental Protection

2%

3%

Sun Yinhuan

Yida

4.8

7

Health

2%

2%

Du Shuanghua

Rizhao Steel

3.2

Hong Jun

Zimo Group

3.2

 

 

Regional Distribution

South China is the king of philanthropy, with more than twice the number of philanthropists than North China. Guangdong led the way with 21 philanthropists originating from there, followed closely by Fujian with 17. Whilst those born in Zhejiang dominated the Hurun Rich List 2011 with 19% of the list, they only came in fourth on theHurun Philanthropy List.

 

Area

No. of indiv born there

% of Indiv

born there

Top Philanthropist

 

% of Indiv from Rich List

born there

Guangdong

21

24.1%

Huang Wenzai

12.9%

Fujian

17

19.5%

Cao Dewang & family

6.2%

Jiangsu

9

10.3%

Gao Dekang

11.1%

Zhejiang

8

9.2%

Wang Rufa

19.3%

Henan

5

5.7%

Xu Jiayin

2.9%

Sichuan

4

4.6%

Wang Jianlin

4.4%

Beijing

3

3.4%

Deng Feng

3.3%

Chongqing

3

3.4%

Wu Yajun

2.1%

Hebei

3

3.4%

Bi Jinan

3.6%

Shandong

3

3.4%

Xu Zengping

6.4%

Hunan

2

2.3%

Wang Tian &

Zhang Haixia

3.1%

Liaoning

2

2.3%

Sun Yinhuan

1.9%

Anhui

1

1.1%

He Simo

1.7%

Gansu

1

1.1%

Huang Nubo

0.8%

Heilongjiang

1

1.1%

Zhang Yin & family

1.0%

Hubei

1

1.1%

Chen Dongsheng

2.3%

Ningxia

1

1.1%

Dang Yanbao, Hai Yan (husband, wife)

0.4%

Shanxi

1

1.1%

Du Hongkui

2.2%

Yunnan

1

1.1%

Ma Yongsheng

1.6%

 

Age

The average age was 51 years, the same as in 2011 and also the same as the Top 100 richest individuals on the Hurun Rich List. At 73, Yang Qizhao is the oldest philanthropist on the list, whilst Sun Mingnan is the youngest at 28.

 

Gender

There are ten female philanthropists on this year’s list, 3 less than last year, and 5.5% less than the percentage of women on the Hurun Rich List. This year’s female philanthropists include: Bian Haiyan, Wu Yajun, Yang Huiyan, Lin Xiaohong, Yang Wenjuan, Zhang Haixia, He Qiaonv, Zhang Ronghua, Zhang Yin and Zhao Yilan.

 

Donation Trends

In a survey of Chinese luxury consumers, philanthropy came in second after payment of taxes, when asked what is the most important way to give back to society.

 

More than half of the Chinese philanthropists donate through their own personal charitable organizations. Of the Top 100 philanthropists, 35% have established their own charities, such as the “Heren Foundation” named after Cao Dewang’s father, the “Hou Changcai Foundation”, the “Pearl River Education Development Foundation” which Zhu Mengyi named after his company, and the “Tsinghua Friends – Zhang Ronghua Scholarship” which was set up by Zhang Xiangqing and Zhang Ronghua and wife in honor of the school’s alumni.

 

 

Giving back to schools

An increasing number of entrepreneurs consider it important to give back to their alma mater, with many making donations on anniversaries of their universities. Wu Fuli of Zonshine Group donated US$16m to his alma mater, Xiamen University, to aid the construction of their campus in Xiangan, Fujian. Wu Yajun of Longfor Properties contributed US$16 million to Northwestern Polytechnical University towards setting up a “Wu Yajun Rewards Fund”.

 

Zhongkun Group’s Huang Nubo has signed an agreement to give Peking University US$140 million in fixed assets and income; though the specifics concerning the implementation have yet to be finalized, so this amount was not included in this year’s list.

 

 

Increasing financial ability to partake in charitable deeds

There are 2.7 million high net worth individuals (HNWIs) in China today, according to The Chinese Luxury Consumer White Paper 2012, a ground-breaking report on private banking in China and the evolving lifestyle of the Chinese luxury consumer; published and released by Hurun Research Institute in association with the Industrial Bank. The white paper identified HNWIs in China with personal assets of more than 6 million Chinese yuan (equivalent to US$950,000).

 

Furthermore, China now boasts 63,500 ultra-high net worth individuals (UHNWIs) with assets of more than 100 million Chinese yuan (US$16 million).

 

 

Guo Meimei Incident

The Guo Meimei incident sparked a wave of suspicion towards the legitimacy of charity organizations such as the Red Cross, after she flaunted her sudden luxurious lifestyle on her micro-blog, claiming to have earned her riches as the business manager of Red Cross China. Following this incident, though Red Cross China has issued countless statements denying any relations with Guo Meimei, there is a general trend towards increased supervision and transparency.

 

 

Other Philanthropists of Note

Ou Zongrong of Zhengrong Groupdonated US$13 million towards plans to housing in Anju. This includes aiding the villagers of Fuzhou to build glass walls, as well as upgrading other public facilities with more sophisticated systems, all of which will be done free of charge. Ou is concerned with environmental protection, investing US$1 million to protect the trees and plants in Putian.

 

Ou Zongrong has a personal fortune of US$1.2bn, ranking 214 on the Hurun Rich List 2011. Ou’s donations over the past year account for 3% of his wealth.

 

In 2011, Ding Shizhong achieved his EMBA at Xiamen University. He donated US$2 million to Xiamen University in celebration of their 90th anniversary. In January 2012, Ding donated US$16 million to the “Anta and Wood Compassion Fund” established by the Jinjiang Charity. Ding ranked 63 on the Hurun Rich List 2011, with a personal fortune of US$2.3bn.

 

Wu Yajunis this year’s top female philanthropist. In May 2011, as alumni of Northwestern Polytechnic University, Wu established the “Wu Yajun Rewards Fund” and donated US$16 million towards supporting the university’s development in the West. Wu is also concerned with poverty alleviation, donating US$1 million to the Chongqing Disability Foundation for the renovation of dilapidated buildings. Wu ranked 7 on the Hurun Rich List 2011, with a personal fortune ofUS$6.7bn, and is the richest self-made woman in the world.

 

Chen Dongshenggraduated from Wuhan University in 1983, and is today CEO of Taikang Life, as well as founder of China Guardian Auction House, a leading auction house in China. Chen donated US$16 million to Wuhan University for their 120th anniversary, used to construct a Forest and Art Museum.

 

Wang Rufa was this year’s top philanthropist in Zhejiang. In January 2011, Defa Group donated RMB20 million to Peking University, cooperating to establish the “Peking University and Defa High-tech Research Institute”. In November, a subsidiary of Defa Group, Jiafa Industries, donated US$3 million to Chongqing University for the establishment of the “Chongqing University and Jiafa Development Fund”.

 

Chairman of Golmud Tibet Grid Potash and the only philanthropist from Qinghai, Xiao Yongming, donated US$6 million to support the development of education in Qinghai. The donation is primarily used to reconstruct vocational and technical schools in the Yushu disaster sites.

 

Zhongkun Group’s Huang Nubo is not only a business tycoon, but a poet and adventurer, and has made numerous donations to his alma mater, Peking University. After donating US$16 million of real estate to Peking University in 2008, Huang has committed to donate a further US$143 million in assets. In January 2011, Huang donated US$2 million to the Yichuan vocational and technical Education Centre to support their development in the West.

 

Xu Jiankangof Baolong is this year’s top philanthropist in Shanghai. During 2011, Xu donated US$5 million towards education, poverty alleviation, culture and social welfare, including US$2.86 million to the Shanghai Charity Foundation of Qingpu district.

 

Zhang Chaoyang of Sohu.com graduated from the physics department of Tsinghua University in 1986. In April 2011, Zhang donated US$5 million to Tsinghua University, and together with other alumni, assisted in the construction of the “Tsinghua University Art Museum”.

 

Zhongbo founder Zhao Changcheng, is the only philanthropist hailing from Xinjiang. In November 2011, Zhao donated US$2 million to charities in his hometown of Sichuan, intended for the development of the Sichuan Charity Federation. This donation was in addition to donations he made towards the Sichuan earthquake.

 

 

Methodology

To make a comprehensive list of the largest philanthropists of China is an almost impossible task. However, we believe that the Hurun Philanthropy List, now in its ninth year, is the most serious and authoritative effort to date, identifying the individuals and highlighting the causes they donate to.

 

To make this list, the Hurun Research Institutesurveyed 3000 of China’s most successful entrepreneurs, including the 1000 from the Hurun Rich List 2011, meticulously cross referencing the results with media reports and charitable foundations. In the course of the research, Hurun Research Institute attended nonprofit-related seminars, as well as meeting with scholars, experts, philanthropists and senior members of the charity foundations. 

In addition to those included on the list, it is recognized that many low-key Chinese philanthropists who would otherwise have been included on the list have remained untraceable.

Hurun Research includes cash and cash equivalents pledged with legally binding commitments for the period from 1 January 2011 to 31 March 2012. The list includes only individuals born and bred in mainland China regardless of the passport they currently hold.

 

Values are rounded, and past figures are subject to exchange rate fluctuations. 1 USD = 6.3 RMB.

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