Billionaire Philanthropist Pledges to Give Away His Wealth

Image: Focus Taiwan

Billionaire philanthropist Chang Yung-fa is the founder and chairman of the Evergreen Group and yesterday he pledged to give away all of his wealth, which amounts to approximately $1.69 billion.

In 2011, Forbes estimated Yung-fa’s net worth to be $1.69 billion and now the billionaire plans to give away his money primarily through the Chang Yung-fa Foundation.

“I will give the total amount of my money to charitable causes. My children have shares in stock holdings to sustain themselves, and if they want more they have to earn it through hard work,” said Yung-fa. The 84-year-old is concerned about increasing poverty in Taiwan and continues to encourage everyone to “chip in for charity.”

Yung-fa’s charity, the Chang Yung-fa Foundation, was established in 1985 and has since used donations for medical aid, emergency relief, funeral subsides and other charitable purposes. As a self-made billionaire, Yung-fa encourages young people to follow his story, always reflect on their life and most importantly, “always do good, or at the minimum don’t do any harm.”

“My charitable endeavors are the foundation of my joy,” said Yung-fa, “It allows me to sleep better at night knowing that I have made a positive impact. And my career successes this life are the legacy of the good I sowed last life, so I need to humbly assume more responsibilities. I will quietly do what I believe is right under the radar. My foundation will carry on the charitable work even after my death.”

Yung-fa is married with five children.

Source: Born Rich