Ma "Pony" Huateng, chairman and CEO of Chinese Internet company Tencent, announced donation plans.
He made plans to donate 100 million shares of Tencent Holdings Limited in Hong Kong to a charity fund that supports healthcare, education, environmental protection and other philanthropic efforts in mainland China, as well as innovation projects relating to cutting-edge technologies and basic sciences research globally.
Ma has led the establishment of Tencent Foundation in 2007 and promoted collaborative projects with other charitable organizations. The foundation is one of the first of its kind in China, and has since grown to become one of the largest.
Over the years, Ma has been actively involved in charitable and philanthropic projects, particularly in the areas of medical care for children, disaster relief and environmental protection. He is the vice chairman of China's Ai You Foundation and a founding sponsor to the newly established public foundation Ai You Future, as well as a board member of One Foundation. He is a director of The Nature Conservancy's China chapter and co-chairman of The Paradise International Foundation, which he founded with like-minded Chinese entrepreneurs last year.
The charity fund, which is to be set up and managed by a team of professionals, will provide financial support to charitable and philanthropic projects or organizations pursuing similar causes. It also plans to establish a sister foundation in China, primarily to oversee project implementation in the mainland.