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Wanda Group boss Wang Jianlin becomes China's richest man

Updated: 20 Aug 2013
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Wang Jianlin
Wang Jianlin
 
Wang Jianlin, owner of China's biggest commercial land developer, is the nation's wealthiest person, based on regulatory filings that show his non-real estate businesses are more valuable than previously calculated.
 
The chairman of closely held conglomerate Dalian Wanda Group, which became the world's largest movie theater chain after acquiring AMC Entertainment Holdings Inc last year for $2.6 billion, has a net worth of $14.2 billion, according to the Bloomberg Billionaires Index.
 
He is $3.2 billion richer than Zong Qinghou, founder of Hangzhou Wahaha Group, China's No 3 beverage maker.
 
Zong is the country's second-wealthiest person. "Wanda leads Chinese enterprises in expanding its business globally and catering to consumers' demand at home with some high-profile acquisitions," said Kenny Wu, a Hong Kong-based analyst at Ji-Asia Research Ltd. "Wang's move to diversify from Chinese real estate seems rewarding."
 
SOURCE: ecns.cn
 
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