Billionaire Taiwanese to Give 90% of Wealth to Charity

Terry Gou, Taiwan's third-wealthiest businessman and chairman of Hon Hai Precision Industry Co., has pledged to donate 90 percent of his wealth to charity, the billionaire's aide said.

The tycoon, estimated by Forbes magazine with $6 billion of wealth, announced his plan at a banquet to celebrate his engagement to Delia Tseng, the United Daily News reported. Gou's special assistant and Hon Hai spokesman Edmund Ding confirmed the plan, saying the billionaire has consistently given to charity and that there was no start date to his latest cause.

Gou, 57, joins Warren Buffett, Bill Gates and other industrial philanthropists who've pledged most of their fortunes to charities. Buffett in June 2006 said he would give about 85 percent of his $44 billion fortune to charity, mostly to a foundation started by his close friend Gates.

[Excerpt of an article by Janet Ong, Bloomberg.com]