The ad announced Chen's plans to host a lunch at Central Park's Loeb Boathouse in New York City on June 25.
Chen, who is known for outlandish PR stunts, wrote in the ad that he is "teaming up with a famous American charity to host a charity luncheon for 1,000 poor and destitute Americans." Each attendee will also receive $300 in cash.
Chen plans to perform "We Are the World."
Americans interested in participating were asked to respond to a Hotmail address.
"I want to spread the message in the US that there are good philanthropists in China and not all are crazy spenders on luxury goods," Chen told the South China Morning Post of his motives.
Strange ad on A15 today by Chen Guangbiao, "leading philanthropist of China." This is the guy who wanted to buy NYT. pic.twitter.com/zLpxkurhsE— Michael Luo (@michaelluo) June 16, 2014
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