There is nothing wrong about building a business for the sole purpose of creating personal wealth, and there is no need to pretend you’re a philanthropist, says Wang Jianlin, founder of Dailian Wanda and China’s richest man.
Although most donations in China are real, some of those charity numbers are being inflated.
“Some people donated a dollar but claim they have given 10 dollars,” Wang wrote in his Hong Kong Economic Journal column.
“Sometimes, the numbers look ridiculously large, as when certain firms announce they have donated several billion yuan.
“Not to mention companies that hardly report any taxable income but say they have donated huge sums year after year.”
Such donors are capitalizing on philanthropy, using it to boost their reputation and gain approval. They also make sure their action gets ample media coverage, Wang said.
Wang himself has pledged to give 90 percent of his money to charity.
While he admits it is difficult to ask everyone to do the same thing, a company can at least repay society by treating their employees well.
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