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01/30/2014 12:11 pm ET Updated Feb 02, 2016

Cecil Chao, Hong Kong Billionaire, Rescinds Reward For Turning Daughter Straight

ASSOCIATED PRESS

A Hong Kong billionaire who hoped to change his daughter's sexuality by offering a monetary reward to any man who could turn her straight -- and assumedly leave her current wife -- has reportedly rescinded his offer.

According to CNN, billionaire Cecil Chao has taken the $130 million offer off the table. "If Gigi's said that this is what she chooses, then it's all over," he said.

cecil chao

However, Chao ending the offer doesn't necessarily mean he is accepting his daughter's current life -- or that he won't try the outrageous offer again at some point in the future.

"I can't say I am happy with her choice," he said. "If this is her choice then it's for her... I have no intention of mixing my life with her life. But if this is what she wants, then I respect her choice..."

He also stated that the offer is over "for the time being... until she changes her mind."

Chao's change of heart comes just days after his daughter allowed the South China Morning Post to publish a letter she had written to her father regarding his unorthodox plan.

"My regret is that you have no idea how happy I am with my life, and there are aspects of my life that you don’t share. I suppose we don’t need each other’s approval for our romantic relationships, and I am sure your relationships are really fantastic too," a portion of the letter reads. "However, I do love my partner Sean... I’m not asking you to be best of friends; however, it would mean the world to me if you could just not be so terrified of her, and treat her like a normal, dignified human being."

Chao originally offered $65 million in September 2012. At that time, Gigi told the press she found the offer "entertaining" and said she is a "really lucky girl to have such a loving daddy."

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