At the age of 107, the renowned Hong Kong movie mogul and philanthropist Sir Run Run Shaw has passed away. Sir Run Run, who founded film company Shaw Studios and later television station TVB, has died.

At the age of 107, the renowned Hong Kong movie mogul and philanthropist Sir Run Run Shaw has passed away. Sir Run Run, who founded film company Shaw Studios and later television station TVB, died at home in Hong Kong with his family by his side on Tuesday morning.

Born near Shanghai in 1907, Sir Run Run moved to Hong Kong in 1957 from Singapore where he oversaw the production of hundreds of movies as head of the Shaw Brothers studio.

It is said that over the years Shaw donated billions of Hong Kong dollars to schools hospitals and charities across Asia. His name adorns numerous buildings across Hong Kong and Mainland as a result of his donations. He was awarded a knighthood in 1977.

Based on an annual assessment of wealth and assets compiled and published by Forbes Magazine on March 2012 Sir Run Run Shaw’s net worth was put at $4 billion (US dollars).

His best known western film accreditation was as a producer on the 1982 Ridley Scott directed sci-fi cult movie Blade Runner.