Struggling former world champion gymnast Zhang Shangwu who had turned to begging to survive has been offered a job by a billionaire philanthropist.

Chen Guangbiao, head of the Jiangsu-based Huangpu Recycling Resources Co, made an unofficial announcement Monday on Sina Weibo, a Chinese Twitter-like service, to hire Zhang as a fitness instructor after learning from earlier reports that the former champion gymnast was engaging in begging and street performance in downtown Beijing.

Arguably the most ostentatious philanthropist in China with estimated property over $510 million according to Hurun Report's 2010 speculation, Chen said in a video clip on his Weibo page that he felt the plight of Zhang.

"I was deeply touched by Zhang's story. It takes much more to become a world champion. They (the champions) have earned honors for the country, " said Chen with a display case filled with certificates of merit in the background.

Zhang, a 27-year-old retired gymnast who received two gold medals in the 2001 Beijing Universiade, was first noticed by a passer-by when he was driven away by patrolling police for his unauthorized street performance on Wangfujing Street on July 14. Extensive media coverage came after photos of his begging performance had been put online, along with a sad story.

An Achilles tendon injury in 2003 put Zhang's gymnastic career to an end, whereas some reports said his forced retirement was due to repeated violations of the Hebei team regulations. That was when Zhang started to live in utter degradation, as he took to crime after failing to find a job, stealing items multiple times at sports academies and he was thrown into jail several times.

However, in Chen Guangbiao's eyes, criminal records did not tarnish Zhang's reputation as a world champion.

"The job offered to Zhang Shangwu is out of my sympathy to him as well as a bonus for the honors he earned for the country as a gymnast. I know he made some mistake when he was young, but those are already water under the bridge. Who can guarantee himself to no mistake for life time," said Chen, who also revealed in the video clip that he will bring Zhang's ailing grandfather to a nursing home for treatment and cover all the expenses.

Zhang has agreed to the one-year contract offered by Chen, with an average monthly salary of over 10,000 yuan ($1552), reported by the West China Metropolis Daily on Monday. Besides being a fitness instructor, he will also learn singing and broadcasting in preparation for hosting a charity concert held by Chen in Southwest China's Guizhou province in September.