PONY MA, chairman and CEO of Shenzhen-based Internet giant Tencent, announced Monday he will donate 100 million shares to a new charity foundation.

    According to Tencent’s closing price yesterday, Ma’s donation was worth 16.57 billion Hong Kong dollars, equivalent to US$2.14 billion.

    The money will be used to support medical, educational, and environmental protection and research projects in China.

    The latest data released by the Hong Kong Stock Exchange shows that Ma holds 8.82 percent of Tencent shares, or 829 million shares.

    Tencent was established in Shenzhen in 1998.

    As one of the founders, Pony Ma helped Tencent to become the first Internet company in China to set up a charity foundation. A charity website (www.goingyi.net) was opened with the support of the Tencent Foundation and has become the largest charity website in China.

    The new charity foundation will be independent from the company.

    Ma has been involved with charity projects for years, including projects for child health care, disaster aid and environmental protection.

    “Ten years’ practice in charity tells me that we need a long-term and more efficient charity system to repay society. Also, with the efficient management of professional teams on charity projects, I can devote more energy to making strategic plans for Tencent as well as planning more charity projects,” said Ma.

    The Tencent Foundation will focus on investing in charity projects mainly in China.

    Jack Ma, CEO of Alibaba Group, was recognized as “China’s most generous philanthropist in 2014” by the Hurun Rich List after donating 14.5 billion yuan (US$2.3 billion).

    Yu Panglin was another renowned Shenzhen-based philanthropist. The real estate and tourism tycoon donated 6.2 billion yuan during his life. Yu passed away last year.

    (Zhang Qian, Luo Yuying)