Chinese philanthropist dies, leaving no money to family

Noted Chinese philanthropist Yu Pengnian, also known as a successful entrepreneur in Hong Kong, has died at the age of 93, leaving no money to his descendants.

Noted Chinese philanthropist Yu Pengnian, also known as a successful entrepreneur in Hong Kong, has died at the age of 93, leaving no money to his descendants.

According to Yu's will, after his death, all of his property and assets will be donated to charitable trust funds.

Before his death, he again expressed his will to donate all of his money. He also hoped his grandchildren can continue to realize his expectations to "donate ten billion Hong Kong dollars" after his death.

Yu's grandson says he will carry on his grandfather's wish to fulfill the goal.

Born in a town in Hunan Province, Yu involved himself in public welfare work wholeheartedly.

He founded several charity funds and ranked first place on the Hu Run charity list for five consecutive years.

In 2010, he donated all of his fortunes worth 9.3 billion Hong Kong dollars or about 7.4 billion yuan to charity funds.

With these funds, over 40 thousand patients with cataract diseases have recovered their eyesight through free treatment, and students in more than 20 colleges and universities who needed help have been given financial support.

Many people in Hunan Province and across the country are still benefiting from his good deeds.

In the 1980s when Yu went back to his hometown to find that the health care situation and education conditions there were lacking, he started putting money into social welfare and did so for the rest of his life.

In the 1980s alone, Yu contributed more than 25 million yuan in Hunan, starting over 20 social welfare projects.

So far Yu Pengnian has devoted over a billion yuan in the province to support health care, education, urban construction, disaster relief, among others.