Entrepreneur cancels lunch with Buffett, denies reports of illegal fundraising
Chinese blockchain entrepreneur Sun Yuchen, who canceled a charity lunch with US financier Warren Buffett on Tuesday morning, denied media reports that he was involved in illegal fundraising and money laundering.
Sun said on his Weibo account that reports concerning his illegal fundraising and money-laundering are untrue. He affirmed that his business, TRON, has complied with Chinese laws and regulations.
Sun’s cancellation of the lunch with Buffett sparked heated discussion online, as most netizens questioned whether Sun had used this excuse for personal hype and marketing of his business.
Sun said on his Weibo account on Tuesday that his meeting with Buffett was canceled due to a sudden attack of kidney stones that he suffered.
“[I am] receiving treatment in a hospital and am in stable condition (now) and recovering,” said Sun, who declined any media interviews. He said that he would make a statement to the public after he was released from the hospital.
The annual luncheon auction with financier Buffett raises money for the San Francisco-based charity Glide Foundation.
Sun said on his Weibo account that his donation to Glide was completed.
In early June, Sun won an annual charity auction to have lunch with Buffett via a $4.6 million bid — a record high. The highly anticipated meeting was scheduled to take place in San Francisco on Thursday.
Sun, the 28-year-old founder of blockchain platform TRON, “fell ill with kidney stones,” the Tron Foundation said on its Twitter account on Tuesday morning, noting that “relevant parties agreed to reschedule at a later date.”
Some Chinese netizens expressed concern for Sun and said that nothing is more vital than personal health.
But many raised doubts, questioning whether the excuse was just a new form of hype from Sun, who is known to be good at marketing. “Sun has successfully created big news ... the first man to break an appointment with Buffett,” a netizen named Tusdt said on Weibo.