Controversial Chinese philanthropist Chen Guangbiao stands between walls of bunches of brand-new 100-yuan banknotes, Nanjing, Jiangsu province, December 21, 2012. Chen Guangbiao said in an interview that he would lash out 230 million RMB to inspire invention and innovation among Chinese youth.
Shortly after a group of pictures showcasing a money hill get public attention, Chinese tycoon and controversial philanthropist Chen Guangbiao received interview, saying that the money hill was worth 100 million RMB and he would lash out 230 million RMB to encourage invention and innovation among Chinese youths.
The money hill stacked with 1 million brand-new 100-yuan banknote is 1.6 meter tall, 17-meter long and weighs 1.5 tons. It will belong to you in certain conditions. And it is only part of the bonus.
Chen Guangbiao (Chinese: 陈光标), a Chinese tycoon and philanthropist, is famous for his high-profile but sometimes questionably motivated charity drive.
Shortly after a group of pictures showcasing a money hill on his Weibo microblogging get public attention, Chen Guangbiao received interview on the afternoon of December 21. He said to reporter that the money hill was worth 100 million RMB and it was only part of the bonus. Chen said he would lash out 230 million RMB to encourage invention and innovation among Chinese youths.
The complete bonus scheme is: the first prize is 100 million RMB in cash, the second prize is an 870-square-meter villa and the third prize is a 630-square-meter villa. And if the prize winner does not want the villa he can get equivalant cash.
And the preconditions: for under-20 teenagers, possessing national invention patent certificate; for 20-26 youths, possessing national invention patent certificate and the patent has been transferred to a product that has enter into the market; correctly answered five questions conerning his donation activity within 1.5 hours.
And the candidates: all domestic or oversees Chinese youths can participate, the first three will be the winners. Chen Guangbiao said he would come to Beijing to award the prizes.
Chen Guangbiao said the awarding was to encourage invention and innovation among Chinese youths. "Currently there are many kinds of prizes. In my opinion, the most important is to set up invention award for Chinese teenagers and youths to encourage them to be interested in invention, science and technology and innovation from young age. If many of the products used in the world are invented by Chinese, namely, they are 'China invented', instead of the present 'China manufactured', Chinese nation will have even better image in the world. The future will depend on the younger generation of the earth, so I will set up a Chinese youth fund for invention and innovation and I hope the fund will encourage more Chinese youth to devote themselves into creation and invention", Chen Guangbiao said to reporter.
Chen Guangbiao: China's top philanthropist or public stunt enthusiast or just an excellent seller of his business
Chen Guangbiao is the founder and chairman of board of Jiangsu Huangpu Recycling Resources Co., Ltd. The company has become one of China's premier dismantling and rubble-recycling firms. The 2011 Forbes list of China's richest had him at No. 223, with an estimated net worth of $675 million (4.45 billion yuan).
Chen became known as a big giver after the devastating Sichuan Earthquake in 2008. He rushed to the scene with a fleet of 60 cranes and trucks in 36 hours, rescuing survivors and handing out cash to the homeless villagers. His chivalric behavior, made known via TV programs, was applauded nationwide and won him the title of “China’s top philanthropist.” He is also nicknamed “Brother Biao”.
Yet people soon suspected that the widely-acclaimed philanthropist’s generosity is just a publicity stunt enthusiat. Chen's model of giving is the philanthropic equivalent of nouveau-riche ostentation: He's fond of publicity stunts, cash giveaways, and media scrums.
The last time he stacked a money hill worth 43 million RMB in Nanjing. A highly circulated photograph of him posing behind his donation of the hill of banknotes drew heavy criticism. He thrust cash to the palm of the needy and took photos with them, but required the beneficiaries to raise the RMB he had given out.
Some others suspect he is promoting his own business. Every natural disaster -- earthquake, typhoon, drought -- looks like an opportunity to Chen, who, fittingly, made his fortune turning trash to cash. When conditions are quieter, he likes to stage public distributions of money and goods.