98-Year-Old China Tycoon Donates RM40 Million To Charity Instead Of Leaving It To His Children

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A 98-year-old founder of a plastics and steel manufacturer is capturing hearts across China for his generosity and frugal lifestyle

According to South China Morning Post, Wang Chunwen from Zhejiang province recently received the China Charity Award, the nation's highest philanthropic honour awarded by the Ministry of Civil Affairs.

Due to his advanced age, his son travelled to Beijing in early September to accept the award on his behalf.

Despite founding Xinghua Industries in 1984, Wang lives in a modest flat instead of a luxury villa

The nonagenarian has never owned a car, opting to ride a bicycle to deliver aid so that the less fortunate see him as an equal.

His frugal habits include wearing the same coat for 36 years, sleeping on a wooden bed for 80 years, and wearing cloth shoes stitched by his late wife, Chen Jijin.

Since 2001, he has donated 60 million yuan (RM36.45 million) to the Ninghai Charity Foundation. His commitment to philanthropy was strengthened after a near-death experience.

After accidentally falling into a well and being rescued by a passer-by, Wang made a lifelong vow to devote himself to charity.

His contributions have funded a local bridge, a sea wall, a kindergarten, and an old age home accommodating 900 senior citizens.

Wang refuses to leave his fortune to his children, insisting they remain self-reliant

According to his daughter, he still visits his company every month to review the accounts.

"He is not concerned about how much money we make, but wants to ensure we are donating promptly," she said.