By Lisa Cox
Self-made billionaire Yu Pengnian, has decided to donate his entire £1.2 billion Pounds fortune to charity – leaving his wife and kids with no inheritance.
Pengnian, who was once a penniless rickshaw driver struck luck and at 88, he is one of the richest men in mainland China.
You’d imagine that someone who had built such a fortune from nothing, would want to share his wealth with his family. Not so in Pengnian’s case.
He decided to hold a press conference to make the startling announcement that his family will get absolutely nothing.
Instead his vast fortune will be given to a foundation he established five years ago to provide aid to his favorite causes including student scholarships, reconstruction work following the 2008 Sichuan earthquake, and operations for those like him who suffer from cataracts.
Luckily for the eccentric philanthropist who lives in the five star Panglin Hotel, in Shenzhen, his family are in full support of his decision, even though he admits he would have given it all away with or without their backing.
“I don’t care what others think. It makes me happy to give my money away. I used to be poor” he said.