Yu Pengnian: Chinese Billionaire Gives Life's Savings To Charity

06/26/2010 05:12 am ET | Updated May 25, 2011

China's Yu Pengnian made a fortune in real estate, and now he's giving it back. The 88-year-old tycoon has slowly been transferring his wealth to his Yu Pengnian Foundation, and now he's gone the final step, pledging his final $470 million in cash and property to the charity.