Chen Guangbiao, a renowned Chinese entrepreneur and philanthropist, has pledged to donate all of his wealth to charity upon his death in a letter to Warren Buffet and Bill Gates (pictured), the billionaires behind the giving pledge initiative.
Guangbiao, founder and chairman of Jiangsu Huangpu Renewable Resources Utilization, made the pledge in a letter on his website stating that he would donate all of his five billion yuan (€577 million) fortune to charity. He said he was "greatly moved" by Buffet and Gates' commitment to charity.
Gates and Buffet are set to travel to China later this month and, according to Chinese media reports, hold a private gathering for some of the country's wealthiest businesspeople. The Beijing-based Economic Observer newspaper reported that "a small number" had declined the invitation due to concerns they would be asked to donate to charity.
Guangbiao is the first person outside the US to sign up to the pledge, which was launched in June and has so far seen 40 billionaires pledge to donate more than half their wealth, either in their lifetime or upon their death, to charity.
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