HISTORY IN THE MAKING: World watches as Fuyao makes historic local investment
Lei Shi is also located in Moraine, where Fuyao has built its flagship plant, Fuyao Glass America, with more than 2,000 workers making automotive safety glass and replacement auto glass. The company has invested $600 million into the plant.
RELATED: Growing pains as plant employees consider union.
China Daily reported in 2011 that Cho — also called Cao Dewang — launched the Heren Foundation with a donation of 300 million shares from his company. The news outlet called it “China’s first charity foundation financed with stocks.”
Billionaire Chinese industrialist Cho is known across the world not only for this work in producing automotive glass, but for his endeavors in philanthropy.
The Heren Foundation was named named after Cho’s late father and is the largest charity foundation in China, with the donated shares having a market value of 3.55 billion yuan or $538 million, China Daily reported in 2011.
Business Insider reported in 2012 that the $538 million donation “far outpaced” a $372 million donation made by “America’s biggest living donor, Microsoft co-founder Paul Allen.”
Cho is said to have donated more than $1 billion of his personal wealth in 33 years.
In a 2014 interview with the Dayton Daily News, Cho said he may have more to say about possible charitable work in the Dayton area after the Moraine plant was more firmly established.
“It’s our culture to say less and do more, and then say more after you do them,” he said at that time.
A message seeking comment was sent to Curran.
FIVE NEW BUSINESS READS
About the Author