Chinese Billionaire's Tea Party for the Poor - Entrepreneurial Buzz | Financial Buzz

Chinese Billionaire’s Tea Party for the Poor

Boathouse, Wall Street Journal,  Guanbiao, CharityIn an attempt to lead the way for fellow moguls, a Chen Guangbiao, a Chinese billionaire announced that he plans to invite 1000 underprivileged Americans for a meal in Central park.

Guangbiao, hails from the eastern province of Jiangsu and found his wealth in the recycling industry. His approach to the lunch was humble in nature, placing advertisements in the New York Times (NYSE: NYT) and the Wall Street Journal (NASDAQ: NWSA) this week calling for a “charity luncheon for 1000 poor and destitute Americans.” The lunch will be held at the Loeb Boathouse, as well as guests receiving $300 to spend on “occupational training”.

Guangbiao expects the lunch to cost close to $1 million, and he hopes that it will boost relations between China and the United States as well as improving and changing the opinions of wealthy Chinese and their ability to make a difference in the world.

“I want to spread the message in the US that there are good philanthropists in China and not all are crazy spenders on luxury goods,” he told a Chinese newspaper.

This is not a first for Guangbiao, who has also put effort into raising awareness of pollution by selling canned air, as well as crushing a Mercedes Benz in efforts to shed light on global warming.

He has been quite vocal about his take on Chinese billionaires, saying that many Chinese Billionaires attained their wealth through market speculation and working with government officials while neglecting the environment. “I can’t bear the sight of it because all they do is splurge on luxury goods, gambling and prostitution, and very few of them sincerely live up their social responsibility.”

In a 2010 interview, Guangbiao highlighted his hopes of building a “charity army” of wealthy Chinese business people who are willing and able to spread their wealth into society and the environment.