Chinese tycoon offers cash to poor in the U.S.

Controversial Chinese entrepreneur Chen Guangbiao took out a full-page advertisement in The New York Times on Monday inviting underprivileged Americans to a charity luncheon that will include cash handouts.

According to the South China Morning Post, the tycoon also placed a half-page ad in Wednesday’s Wall Street Journal, inviting 1,000 underprivileged Americans to dine with him. He promised to hand out $300 dollars to the participants after lunch.

“I want to spread the message in the U.S. that there are good philanthropists in China and not all are crazy spenders on luxury goods,” Guangbiao said.

The Guangming Daily noted that the event is to be held on June 25 at The Loeb Boathouse in Central Park. The ad includes an email address where attendees are to sign up at.

The 45-year-old philanthropist and Chinese recycling entrepreneur founded the Jiangsu Huangpu Renewable Resources Limited Company. Forbes estimated that his worth is around $400 million.

Guangbiao is known for his publicity stunts and made headlines last year after his unsuccessful bid to buy The Times.

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