China Philanthropist Donates $115 Million to Caltech

(Beijing) — A Chinese billionaire couple has made one of the biggest charitable donations to a university in the nation's history, igniting debate after they passed over candidates in their home country in favor of a leading-edge U.S. institution.

Chen Tianqiao and his wife, Chrissy Luo, whose fortune comes from their Shanda Group gaming empire, said they will donate $115 million to the California Institute of Technology (Caltech). As a result, Caltech will name a new institute for biological and neuroscience research after the couple, the university announced.