Hang Lung Group chairman Ronnie Chan has followed up on his brother’s record breaking gift to Harvard by arranging his own $20 million donation to the University of Southern California.
According to a report on the university’s website, Chan, who received an MBA from the school in 1976, and his wife Barbara have dedicated their gift to the USC’s occupational science and occupational therapy school. The gift endows the division in honor of Chan’s mother, and the program will now be known as the USC Mrs. T.H. Chan Division of Occupational Science and Occupational Therapy.
USC Gift Follows Up on Harvard Donation
Earlier this month, Chan’s younger brother Gerald made a gift of $350 million to Harvard’s school of public health, said to be to the largest donation ever to the US’ richest university.
Gerald Chan’s donation to Harvard was made through the Morningside Foundation, which is controlled by both men, and renamed the school of public health in honor of TH Chan, father of Gerald and Ronnie and founder of Hang Lung.
Ronnie Chan has been a trustee of USC since 1995 and, in a statement, USC President CL Max Nikias said, “For the past several decades, Ronnie and Barbara Chan have been stellar ambassadors for USC, particularly in the Pacific Rim, and their most recent gift reflects their long-standing commitment to the university.”
In addition to serving as the chair of Hang Lung Group and its subsidiary, Hang Lung Properties Limited, Ronnie Chan also co-founded private equity firm Morningside Group with his brother.
Ronnie Chan’s two sons, Adriel and Adley also graduated from USC, with Adley earned a bachelor’s, master’s and doctorate degrees in occupational therapy at the school. Adley Chan recently joined the division as a clinical faculty member.
China Property Developers Donating to US Universities
Lately, China’s property developers have made a salvo of donations to US universities, with Evergrande and Soho China both making gifts to Harvard. Soho CEO Zhang Xin is also said to be preparing to make a multi-million dollar donation to Yale University.
Ronnie Chan’s Hang Lung Properties has made substantial real estate investments in China, including Plaza 66 and the Grand Gateway malls in Shanghai.