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Hong Kong billionaire Lee Shau Kee attends the funeral of Cheng Yu Tung, founder of Hong Kong property group New World Development, Oct.13, 2016. Photo by Reuters |
According to The Standard, on Tuesday, the Tsinghua University Education Foundation honored Lee on its WeChat public account, chronicling his journey from a budding entrepreneur to a titan of real estate. The foundation praised his dedication to “educating the nation,” a principle that profoundly influenced Tsinghua University and the educational sector at large.
In 2008, Tsinghua University recognized Lee as an Honorary Trustee, a testament to his impact and generosity.
Meanwhile, Fudan University remembered Lee’s tenure as a board member and his establishment of the “Lee Shau Kee Scholarship” in 2007, which has helped numerous Hong Kong students. A year later, Lee funded the construction of the “Lee Shau Kee Library” at Fudan’s Jiangwan Campus with a substantial donation of 100 million yuan (US$13.8 million), raising the standard for academic libraries across the nation.
Peking University also reflected on Lee’s charitable philosophy, underscoring his belief in the far-reaching impact of education.
“In my charitable efforts, I prioritize education above all, as its benefits extend beyond the students to their families and future generations, yielding substantial societal returns,” Lee was quoted as saying in an article published by the university.
His contributions to the university included scholarships and the funding of the Lee Shau Kee Humanities Buildings, promoting Chinese culture and talent development.
Lee’s passing at age 97 on Monday evening was announced by his company Henderson Land Development, according to AFP. As of February, Forbes had listed him as Hong Kong’s second-richest individual, with a net worth of US$29.2 billion.
Lee’s philanthropic legacy throughout his life includes the founding of the Hong Kong Pei Hua Education Foundation in 1982, which notably transformed the lives of over 1.2 million farmers in remote and impoverished regions, securing them employment, benefiting approximately 3.4 million people, based on an average household size of three.
The late billionaire often emphasized the exponential benefits of educational philanthropy over direct financial aid, famously advocating the multiplier effect: “One teaching ten, ten teaching a hundred.” He believed that modest financial contributions, augmented by personal effort, could produce significant outcomes.
“Sometimes just a little money from me, plus my own efforts, even one yuan, can be as effective as ten,” he remarked.
Despite his substantial donations, Lee humorously noted that he never kept track of the total amount, believing instead that the true value of charity is measured by its ability to multiply and extend its benefits well beyond the initial investment.
