Chinese Billionaire Seen Handing Out $US100 Bills To 'Poor' Americans In New York City

The eccentric Chinese billionaire who is throwing a lunch in Central Park for New York’s “poor” on Wednesday has been spotted attempting to hand out money to random New Yorkers, with mixed results.

The New York Post reports that recycling magnate Chen Guangbiao handed out $US100 bills the neighbourhood around Tribeca’s New York City Rescue Mission on Tuesday.

Chen has been advertising a “charity luncheon for 1,000 poor and destitute Americans” at 11 a.m. today through two prominent placements in the New York Times and Wall Street Journal last week.

(Check out another photo at The New York Post).

Chen’s guests will reportedly be given $US300 to spend on “occupational training” as well as lunch at the Loeb Boathouse restaurant in Central Park. He estimates tha the event will cost him about $US1 million.

Here’s an important point from The Post:

“[Chen] insists he will go ahead with his plans to hand cash to the guests, even though the rescue mission doesn’t think its a good idea because many of the homeless diners have drug problems.”

Business Insider will have more coverage of the event later on today.

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.