Terry Gou, Chairman of Taiwan’s Hon Hai Precision Industry Co., recently announced that he will give 90% of his fortune, estimated at $6 billion, to charity – making him the latest philanthropist to make such a commitment during his lifetime. While the ranks of Asian billionaires is swelling, very few have expressed similar intentions to give at Mr. Gou’s levels.
The article compares Gou to Bill Gates and Warren Buffett for his decision to give away the majority of his personal fortunes to support charitable work. While Gates and Buffett have provided details about their plans – Gates will donate 95% of his wealth to his private foundation, and Buffett will give $30 billion to the Gates Foundation (about $3 billion per year) – Gou’s announcement leaves us guessing about where he intends to give, in what form, and when. His previous gifts were directed towards cancer-related research; it’s possible that some or all of the gift announced will be directed towards similar work. Whatever he decides, we’re excited about these resources being applied towards charitable goals.
Most of all, we’re excited to see how Gou’s decision will inspire and influence other Taiwanese philanthropists to act.
Photo courtesy of randy son of robert