Shi Yuzhu, one of China's most well-known entrepreneurs famed for his roller-coaster career, has earned 1.89 million yuan ($278,000) for a local charity program in China's first auction for a time share with celebrities. On August 5, Shi honored a deal to hold a three-hour talk with the highest bidder of the online sale modeled on the Warren Buffet charity luncheon auction on eBay.

Shi said after the meeting, although he couldn't offer practical investment advice like Buffet, his reflection upon personal ups and downs in business circles might help others avoid mistakes.

Shi, 48, started his first business, Giant Group, from scratch in 1991. The company rose to be China's second largest private hi-tech company in 1993, with annual revenue of 360 million yuan ($69 million at the then exchange rate). Giant Group collapsed in 2007 due to excessive expansion and Shi was in debt to the tune of 200 million yuan ($23 million at the time). Shi managed to rebuild his business reputation with success in the health products sector. In 2005, he founded Giant Interactive Group Inc. The NASDAQ-listed company is a leading online game developer and operator in China.

Shi ranked 468th on Forbes' World Rich List 2009 with a net fortune of $1.5 billion.