Behind an $18 Billion Donation to a New York Charity, a Shadowy Chinese Conglomerate – NYTimes.com

A Chinese man has transferred more than 29 percent of HNA Group of China — the equivalent of as much as $18 billion — to a New York-based private foundation. The donation puts him in the same league as donors like Bill Gates and Warren E. Buffett and almost matched the combined giving of all American corporations in 2016. But it has not been disclosed how that man, Guan Jun, who is in his 30s, came to own such a large piece of one of China’s biggest conglomerates. His registered address in Beijing is a modest apartment at the end of a dingy hallway littered with discarded furniture and bags of trash. Questions about Mr. Guan, who could not be reached for comment, and the foundation have mounted since HNA disclosed on Monday the donation to the New York-based Hainan Cihang Charity Foundation, which aims to support a variety of causes including anti-poverty efforts. Little is known about Mr. Guan, though he is a director in a company whose address is in the HNA building in Beijing.

FOLLOW THE LINK FOR THE FULL REPORT – JR

https://mobile.nytimes.com/2017/07/26/business/hna-group-billion-donation-new-york-charity.html?referer=http://www.drudgereport.com/

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s