Chairman of Local Foundation Makes Record-Breaking $40 Million Donation to His Alma Mater, Wuhan University

The Charles Huang Foundation (CHF) in Pasadena has donated $40 million to Wuhan University of China to promote the development of advanced education, health research and growth-driven innovation.

The donation was formally made on Monday, November 29, during a virtual celebration ceremony of the university’s 128th anniversary. Wuhan University is the alma mater of Foundation founder and Chairman Charles Huang.

A CHF statement said the philanthropic gift is the single-largest personal donation ever received by the university. Together with the $70 million landmark grant given to the University of Strathclyde in the UK in September, Dr. Huang has donated a total of $110 million to his two alma maters this year, the statement continued.

The $40 million funding will be used to support six programs named after Innova Medical Group, Inc. and Pasaca Capital, Inc. These programs are aimed to provide significant and long-lasting support for Wuhan University to attract and recruit top scholars, develop and create innovative and entrepreneurial talents with exceptional leadership skills, and advance research and teaching capabilities, especially in the field of Management at the university’s School of Economics and Management.

“My study in Wuhan University signified the starting point of my journey to the world beyond and I deeply believe that all my achievements are based upon the excellent education that I received,” Huang said. “Today I’m fulfilling the promise I made to donate at least $100 million of my personal wealth to my alma maters in China and the UK upon my firm achieving tremendous business goals within 5 years after its formation.”

Huang established Pasaca Capital Inc. in Los Angeles at the end of 2016. Since then, Pasaca has delivered on Huang’s vision to set the world record for rapid growth on revenue, speed and scale within the first five years, the statement said.

“As his alma mater, we are very proud that Wuhan University helped to cultivate such a global visionary entrepreneur like Dr Huang,” Professor Dou Xiankang, President of Wuhan University, said. “We would like to express our sincere thanks to our alumnus Dr Huang and the Charles Huang Foundation for this tremendously generous donation to the university, which will help us cultivate first-class innovative talents, enhance our capabilities in scientific research and innovation, and contribute to Wuhan University’s development into a world-class university with uniquely Chinese characteristics.”