Carpenter turns the wealthiest men in Tibet

Forty years ago, 150 yuan ($63 then) was all the money Qunpei Tsering had to his name. Now, as the Tibet autonomous region's first billionaire, he has pledged to use his wealth to benefit the people living in the region.

The 61-year-old operates 12 companies in his native Xigaze prefecture, with interests in businesses as diverse as real estate, a highland barley wine factory and a local driving school. "I thought, what if one of them goes out of business? So I set up businesses in different fields," he says.

The conference room in his office has a wall full of bronze "model business" awards and banners from charities thanking him for his generosity. The windows offer views of one of Qunpei Tsering's successful hotels.