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Hong Kong newspapers reported that Sir Run Run Shaw passed away today peacefully in his home. He was 107 years old.

Shaw was one of Hong Kong's most famous film producers, entertainment moguls and philanthropists. Over the decades he has donated millions of Hong Kong dollars to education, medicine and building projects in Hong Kong and China and invested in a wide range of films.

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Born on Nov. 19, 1907 in the Zhejiang city of Ningbo, Shaw, whose birth name Shao Renleng, was the sixth of eight children born to Shanghai businessman Shao Xinying. In 1958, Shaw and a brother founded the Shaw Brothers Studio which would go on to produce more than a thousand Chinese films.

In 1967, Shaw moved into television with the establishment of Television Broadcast Limited (TVB). TVB was the first free television broadcaster in Hong Kong and went on to dominate the local television industry as the ratings leader for a number of years.

Shaw's film and TV empire ranks as one of Asia's best and biggest, influencing film trends over the years, helped launch the careers of countless Chinese entertainment stars and fueled the success of a number of Hong Kong's elite film and TV directors and producers. In 1977, Shaw became the first person from Hong Kong to be knighted and awarded the honorable title of Sir.

In addition to his work in entertainment, Shaw was very active on the charity circuit. He is said to have donated over HK $100 million to charities focusing mainly on education, science and technology and social welfare projects. In 2004, he established the Shaw Prize which provides funds for significant research in science, mathematics and medicine.

Shaw was first married in 1937 to Ms. Huang Meizhen, with whom he had two sons and two daughters. She passed away in 1987 at the age of 85.

In 1997, Shaw married former singer and later TVB executive Mona Fong in Las Vegas. In 2010, Shaw handed over his position as administrative president of TVB to Ms. Fong.

Until his retirement, Shaw had served as the world's oldest and longest tenured CEO of a listed company.