Xiaomi billionaire gifts record RM854.70mil to China university

Xiaomi’s Lei gifted the school 1.3bil yuan (RM854.70mil or US$182mil), the biggest ever cash donation to a Chinese university from an alumnus, according to the institution’s official Weibo account. — Reuters

Lei Jun, the billionaire co-founder of Chinese smartphone maker Xiaomi Corp, made a record cash donation to his alma mater, Wuhan University, adding to a surge in pledges by the nation’s richest.

Lei gifted the school 1.3bil yuan (RM854.70mil or US$182mil), the biggest ever cash donation to a Chinese university from an alumnus, according to the institution’s official Weibo account. The money will help support computer science innovations, students’ development and research on six fundamental disciplines, it said in a separate post.