Tianqiao Chen became a billionaire more than a decade ago thanks to the games developed by his firm Shanda Interactive Entertainment. A series of panic attacks led him to give up his CEO role in 2012 and take a break from the stress of running a publicly-traded company (he then took the company private). Now Chen -- who is just 44 -- and his wife, Shanda cofounder Chrissy Luo, are working to direct some of their fortune toward understanding and treating brain diseases, including the panic attacks that Chen suffered from. Toward that end, the couple announced Thursday that they have formed a partnership with Fudan University-affiliated Huashan Hospital in Shanghai to establish an institute bearing their name.
“We think it’s the right timing for us to support the brain,” Chen told FORBES in a phone interview before the announcement. “Many people suffer from brain disorders, and with the aging population, more people suffer from Alzheimer’s and Parkinson’s disease.”
Chen will start out with a gift of about US$8 million (RMB 50 million) to fund The Tianqiao and Chrissy Chen Institute for Brain Disease (Shanghai) – with a larger promise of about $80 million (RMB 500 million). Huashan Hospital doctors affiliated with the institute will focus on the research and treatment of brain tumors, Alzheimer’s disease, Parkinson’s disease, depression and other brain ailments. FORBES estimates Chen’s net worth at $1.55 billion.
Chen also wants to foster cross-border collaboration: In 2016 the Chens made a $115 million gift to the California Institute of Technology (Caltech) to create The Tianqiao and Chrissy Chen Institute for Neuroscience at Caltech. He’s already introduced folks from the institute at Caltech to doctors at Huashan Hospital, and his goal is for them to work together, so the discoveries at Caltech – which does not have a hospital or a medical school – can be put into action at Huashan Hospital.
In addition, Chen said he and his wife have moved their family from Singapore, where they’ve been living for a number of years, to the San Francisco area to be closer to the Chen Institute at Caltech. “China and America are the two biggest players for future science research,” he said. “With my roots in China and based in America, I can play an important role.”
Since taking Shanda Interactive private in 2012, Chen has transformed it from a game developer into a private investment firm, with holdings that include U.S. stocks LendingClub and Legg Mason and others.
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