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billionaire to pay $14m in tuition fees for Chinese students

A billionaire From China paid $14 million in schooling charges for Chinese students

Who is Mr. Victor Li ? Hong Kong’s richest man Li Ka-Shing has promised to finance the schooling fees for a group of Chinese university students within his generous foundation.

The Li Ka-Shing Foundation will fund Shantou University‘s 2019 incoming class for more than 5 years.

Mr. Li, one of the richest men in China, 90 years old, is worth $30.4bn.

The same movement last month came from the billionaire Robert F Smith, announcing he would pay the loans of a US college class.

The Li Ka-Shing Foundation will cover full schooling fees for 5 to 6 years for juniors classes, beginning with the next class of 2019 at Shantou University, in the Guangdong province of China.

The movement will require 100m Chinese yuan $14.4million a year.

The Foundation believes this plan can relieve financial difficulties for families and support the pursuit of personal interests and moreover learning to better prepare graduates for the difficulties of a more complicated global economy.

Who is Mr. Victor Li ?

Mr. Li 90 years old, is worth $30.4 Bn, who becomes a rags-to-riches story after starting work sweeping industry floors as an adolescent boy, was listed 28th on Forbes one of the richest on the list in 2019.Mr. Li is CK Hutchison Holdings and CK Asset Holdings groups are involved in sectors including retail, telecoms and power.

He left his business domain last year, giving over the controls to his adored son Victor Li.

Mr. Li’s charity appears on the heels of an alike movement by American philanthropist Robert F Smith.

Last month the billionaire tech investor shocked graduating students in USA, by assuring them he would pay off all of their student allowances.

About 500 students eligible to benefit from the promise to clear out their debt, thought to be worth $40 millions.

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