forbes cinema chain owner is china\s richest person
Last Updated : GMT 13:26:10
Arab Today, arab today
Arab Today, arab today

Forbes: Cinema chain owner is China\'s richest person

Arab Today, arab today

Arab Today, arab today Forbes: Cinema chain owner is China\'s richest person

Shanghai - AFP

A multi-billionaire who bought US cinema chain AMC Entertainment and has just acquired a luxury British yacht builder has taken top spot as China\'s richest man, according to Forbes magazine. Wang Jianlin, head of conglomerate Wanda Group -- a private firm with interests ranging from property to retailing -- had estimated wealth of $14 billion, the magazine said on its website. His fortune soared from $8 billion last year, when he was in third place, putting him now $3 billion ahead of former title-holder Zong Qinghou, a beverage tycoon, it said. A recovery in China\'s property market helped swell Wang\'s wealth, Forbes Shanghai bureau chief Russell Flannery told AFP on Tuesday. \"Urbanisation is going to boost demand for real estate in important Chinese cities for a long time,\" said Flannery, who compiles the magazine\'s annual ranking of China\'s richest people. \"That has fuelled wealth creation not only in China but all across Asia.\" Wang\'s wealth comes mainly from commercial real estate, which has been less affected by a Chinese government crackdown on surging home prices. China has sought for more than three years to control residential property prices, but the government has recently signalled it might not take further tightening steps. Beijing is encouraging Chinese companies to \"go out\" and buy up assets around the globe, and Wanda Group acquired AMC Entertainment last year for $2.6 billion. The company\'s acquisition of British yacht builder Sunseeker -- whose powerboats have featured in James Bond films -- completed last month, and Chinese media also said in June that Wanda plans to build London\'s tallest residential towers. The $14 billion figure would have put Wang in 63rd place, just ahead of Facebook founder Mark Zuckerberg, in Forbes last global billionaires list, published in March. But China\'s hyper-rich are still only worth a fraction of the world\'s wealthiest individuals. Mexican tycoon Carlos Slim topped the rankings with an estimated fortune of $73 billion, while Microsoft chairman Bill Gates was second with $67 billion. Wanda was founded in 1988 and has total assets of 300 billion yuan ($49 billion). Its net profit topped 10 billion yuan last year, which the company aims to double by 2015, according to its website. Zong, who heads soft-drink producer Wahaha and was previously China\'s richest person, now has wealth of $11 billion, Forbes said, up from $10 billion last year. Forbes\' complete \"China Rich List\" is due to be released soon, Flannery said.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

forbes cinema chain owner is china\s richest person forbes cinema chain owner is china\s richest person

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

forbes cinema chain owner is china\s richest person forbes cinema chain owner is china\s richest person

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today PNG police start removing refugees

GMT 03:00 2017 Friday ,24 November

PNG police start removing refugees
Arab Today, arab today Sophian Yussef reveals suitable decoration

GMT 02:56 2017 Thursday ,23 November

Sophian Yussef reveals suitable decoration
Arab Today, arab today Syria congress to go ahead

GMT 02:24 2017 Friday ,24 November

Syria congress to go ahead
Arab Today, arab today IS media offline for a day

GMT 02:10 2017 Friday ,24 November

IS media offline for a day
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Human form of 'mad cow' disease

GMT 00:11 2017 Friday ,24 November

Human form of 'mad cow' disease
Arab Today, arab today British woman jailed in Iran to appear

GMT 03:19 2017 Friday ,24 November

British woman jailed in Iran to appear
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mitsubishi Materials units falsified product

GMT 03:24 2017 Friday ,24 November

Mitsubishi Materials units falsified product
Arab Today, arab today 'Robo-taxis' hold promise, and perils

GMT 08:07 2017 Thursday ,23 November

'Robo-taxis' hold promise, and perils
Arab Today, arab today Solaf happy for participating in “Hotline”

GMT 07:56 2017 Wednesday ,22 November

Solaf happy for participating in “Hotline”
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 08:03 2017 Tuesday ,21 November

Abeer Sabry reveals reason of “The Flood” success

GMT 08:03 2017 Thursday ,23 November

Srebrenica women cry tears of joy

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts

GMT 09:12 2017 Thursday ,23 November

4 in 10 cancers due to modifiable risk

GMT 10:47 2017 Wednesday ,22 November

The Big Apple bike boom

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday