Chinese-American billionaire to donate half his property to charity

16:43, August 26, 2010      

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Cheng Songxiong.

Microsoft founder Bill Gates and investor Warren Buffett in June this year jointly called on billionaires around the world to donate half of their fortunes to charity. Chen Songxiong (Patrick Soon-Shiong), a Chinese American tycoon in the biopharmacy industry, and his wife Michele Chanad are among the 40 billionaires who have responded so far.

As of now, Chen is the only Chinese to respond. His behavior is not only commended by American society, but also has pleasantly surprised Chinese society and promotes the Chinese people's positive image in America.

Chen Songxing was born in South Africa's Johannesburg in 1952. His parents fled from calamity to South Africa from China long ago to evade World War II. Chen grew up during South Africa's apartheid era. He obtained a medicine degree from Witwatersrand University, and he came to Los Angeles to teach in 1980.

In 1990, he left the academic circle and began commercializing the results of his individual research results leading him to set up a diabetes pharmaceutical company and an American drug partnership successively (American Pharmaceutical Partners, was called APP Corporation).

As a surgeon, Chen Songxiong has an 82.4 percent stake in the company Abraxis. He founded the company in Los Angeles to develop new forms of anti-cancer drugs.

On the Forbes Magazine list of richest people, Chen Songxiong ranks at 154th with about 5 billion U.S. dollars in property.

Chen Songxiong inspects the volunteer medical consultation held in L.A.

By Wang Hanlu, People's Daily Online


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