Yu Pengnian, Chinese real estate mogul, has moved his entire $1.2 billion fortune into his foundation for charity to help poor people in China.
He made his final donation of $470 million in cash and property to the charity he has been contributing to since its opening in 2003.
The foundation funds cataract surgeries for people in China as well as other monetary support for poverty stricken citizens in the country. Yu's children have agreed to his generous donation and he says:
"If my children are more capable than me, it's not necessary to leave a lot of money to them. If they are incompetent, a lot of money will only be harmful to them."
Wow! We are truly impressed!
[Image via Getty Images.]
Tags: charity, china, donation, fortune, real estate, yu pengnian