Cao Dewang, chairman of Fuyao Glass, became the most generous billionaire in China. Recently, Cao Dewang, chairman of Fuyao Glass, announced that 70% of the shares of Fuyao Glass held by the Cao family would be used to establish a charity fund, according to the closing price of Fuyao Glass at the same time yesterday. Calculated at 49 yuan/share, the shares of this part will reach 43. 800 million yuan (the Cao family holds 1.08 billion shares of Fuyao Glass Group, 70% of which is about 756 million shares. About 80million shares will be distributed to minority shareholders in accordance with the share reform commitment this year, and the remaining 676 million shares will be used to establish charity funds)
the head of Fujian Charity Federation said that there was no precedent for a foundation of this model in China. Once approved, the foundation will become the first charity foundation established by shares in China. It is reported that the income of the foundation will be used for charity and public welfare undertakings such as student aid, disaster relief, poverty relief, emergency relief and religion nationwide
after learning the above news, Hurun said that it was not surprising, "Cao Dewang has always been interested in donating his shares. If he finally goes on a trip, he will become the most generous philanthropic billionaire in China"
Cao Dewang, chairman of Fuyao Glass
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philanthropist Cao Dewang
Cao Dewang, who was once rated as one of the "top 10 philanthropists in China" by the Ministry of civil affairs, is fond of charity after becoming rich. According to Cao Dewang's estimation, in recent years, his cash donations alone have reached more than 200million yuan, including about 100million yuan for school infrastructure and tens of millions of yuan for disaster relief and emergency relief. In the Wenchuan earthquake alone, he donated more than 20 million yuan. According to the statistics of Fujian Charity Federation, Cao Dewang had donated 15.27 million yuan to the organization as of November 30, 2008
in Cao Dewang's view, participating in various charity activities is only the minimum morality of a person. "My outlook on wealth has changed a lot. This change does not mean that there is more money but that I am a standard Chinese through these donations."
caodewang was born poor and dropped out of school at the age of 14. Let go of cattle, sell cut tobacco as a professional company of extrusion technology, sell fruits, repair bicycles In the 1970s, he started his business and became one of the earliest entrepreneurs in the "heat-resistant gloves; goggles; copper scraper; copper brush; copper wire; stearic acid; electric drill; machine ruler; cotton cloth Forbes China rich list". He has done all possible businesses. At the age of 30, he has become a "human elite", and finally has a "huge capital" of 50000 yuan
in 1976, Fuqing Gaoshan special-shaped glass factory (the predecessor of Fuyao Glass) was established, and Cao Dewang became a purchaser of the factory. In 1983, caodewang contracted the plant and made profits in the first year
in 1986, Cao Dewang, 40, began to work on automobile glass maintenance. That year, Cao Dewang made a profit of 700000 yuan and dug a real bucket of gold
in June 1993, Fuyao Glass was officially listed on the Shanghai Stock Exchange. This year, Fuyao Glass accounted for 40% of the domestic market share
in 2008, Cao Dewang ranked 102nd on the Hurun 100 rich list with a net worth of 6.5 billion yuanAt the end of 2001, shortly after China's accession to the WTO, the Canadian International Trade Court launched an anti-dumping investigation against China's automotive glass industry, including Fuyao Glass To this end, Cao Dewang set up a special anti-dumping response office and sent a working group to participate in the public hearing of the Canadian International Trade Court
after eight months of hard response, on August 30, 2002, the Canadian International Trade Court ruled that the sale of automotive glass from China in Canada did not constitute an infringement. Fuyao Glass won a big victory and won the leading anti-dumping case after China's entry into the WTO
housekeeping point of view
after the Wenchuan earthquake, China's rich people's awareness of charity was significantly strengthened
last year, Microsoft founder gates donated all his $58billion to his charitable fund, shocking the world. Today, the kindness of Chinese tycoon Cao Dewang once again moved us close
2008 Forbes China rich list, Cao Dewang scored 48. 300million yuan ranked 53rd. In the Hurun charity list in 2008, Cao Dewang also donated 1. 4.6 billion yuan ranked 14th. Hurun pointed out that Cao Dewang was also one of the 16 philanthropists on the Hurun rich list for five consecutive years. According to the Hurun charity list, Cao Dewang ranked 35th in 2004, 22nd, 18th and 23rd in 2005, 2006 and 2007 respectively, and jumped to 14th in 2008
Hurun told that there are three main ways of charitable donation in China: direct donation, donation through charities and entrepreneurs' own funds. Ordinary donations are mostly cash and material donations, but with the gradual strengthening of charity awareness, "share donation, which was a novel model in China before, has become more and more common." Hurun also said that after the "5. 12" Wenchuan earthquake, the charitable consciousness and donation frequency of China's charitable billionaires have greatly developed compared with the past. In other cases, "this is a very obvious trend."
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