Chinese-American Billionaire to Donate Half His Property

Chinese-American bio-pharmacy tycoon Chen Songxiong and his wife Michele Chanad are donating half their property to charity.

Chen is the only Chinese to respond to Bill Gates and Warren Buffet’s call in July for billionaires around the world to donate half their fortune to charity. Both the Americans and the Chinese have applauded his actions. It is seen as by many as promoting a positive image of Chinese people in America.

Chen was born in South Africa in 1952 and grew up during the Apartheid era. He earned his medical degree from Witwatersrand University and came to Los Angeles in 1980 to teach.

In 1990, Chen left the academic circle to commercialize the results of his research that lead him to set up his own diabetic pharmaceutical company. He has also formed the company Abraxis, which develops new forms of anti-cancer drugs.

Forbes Magazine has listed Chen as the 154th richest person with an estimated fortune of about 5 billion US dollars in property.