Last week, Caixin, a Chinese investigative news outlet, published an expose saying that Chen falsified and exaggerated donations, damaging his public image and underscoring rapid shifts in China’s culture of philanthropy. Charitable giving in China is beginning to mature, analysts say — and Chen, with his attention-seeking stunts, has been left out of the emerging order.
Chen has “driven the subject [of philanthropy in China] forward,” said Rupert Hoogewerf, publisher of the Hurun Report, a respected index that tracks China’s high-net-worth individuals. “But that’s up until that point in New York, when he became a bit of a disaster. People felt his way of making donations was too spectacular to be true, that he was too much of a showoff, kind of cringe-worthy in some ways.”
Now, “there’s a lot of creativity going on in philanthropy” in China, he continued. “Building a wall of money and showing it off, that just embarrasses people now, because there are people doing some really serious stuff.”More in LA Times.
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