Wang Jianlin

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Wang Jianlin
Wang Jianlin - Annual Meeting of the New Champions Dalian 2009.jpg
Wang Jianlin at the Annual Meeting of the New Champions of World Economic Forum in Dalian, 2009
Native name 王健林
Born (1954-10-24) October 24, 1954 (age 60)
Citizenship Chinese
Education Liaoning University at age 32
Organization Dalian Wanda Group
Known for Wealthiest person in China as of 2015[1]
Net worth IncreaseUS$37.6 billion (2015)[2]
Political party
Communist Party of China
Spouse(s) Lin Ning
Children Son Wang Sicong (born in 1988)
Relatives 4 younger brothers
This is a Chinese name; the family name is Wang.

Wang Jianlin (Chinese: 王健林; pinyin: Wáng Jiànlín; born 1954) is a Chinese businessman and philanthropist. He serves as the Chairman of the Dalian Wanda Group, China's largest real estate developer, and the world's largest operator of movie theaters.[3]

Early life[edit]

Wang Jianlin was born in October 24, 1954, in Cangxi County, Sichuan Province, China. His father fought for Mao Zedong's Red Army during the Long March (October 1934–October 1935).[4] Wang has four younger brothers, who all live in the family’s native Sichuan province.

He graduated from Liaoning University in 1986.

Career[edit]

After sixteen years in the People's Liberation Army, Wang started working as the Office Administrator for the Xigang District in the city of Dalian.[5] In 1989, he became the General Manager of Xigang Residential Development. He was Head of Factory in a Jiangyin-based factory. In 1992, he started working as the General Manager for the Dalian Wanda Group, where he has been CEO since 1993. He has also been serving as Executive Deputy General Manager and Director in Jiangsu Jiangnan Water Co.[6]

His company owns 9.03 million square metres of investment property, 58 Wanda Shopping Plazas, 15 luxury hotels, 68 cinemas, 57 department stores, and 54 karaoke centres around China. The company became the world's largest theatre owner in 2012 when it acquired AMC Theaters. He bought out U.S.-based AMC Entertainment for $2.6 billion. He listed it on the New York Stock Exchange in December. He flew in celebrities Leonardo DiCaprio, Kate Beckinsale, and John Travolta to help launch an $8 billion mini-Hollywood in the coastal city of Qingdao in September 2013.

He acquired the landmark Edificio España building in Madrid, Spain, in March 2014 from Grupo Santander for "about a third less than the €389 million that Banco Santander paid in 2005, at the height of Spain’s construction boom".[7] Previously, Dalian Wanda had taken on billion-dollar hotel development projects in London and New York, as well as property projects in India.

In September 2013 he announced plans to build the world's largest studio pavilion at Oriental Movie Metropolis which include a 10,000 square meter studio and an underwater stage.[8]

In 2014, he acquired land at 9900 Wilshire Boulevard in Beverly Hills, California to build the American headquarters of his entertainment company.[9]

The Economist called him "a man of Napoleonic ambition", and citing his military background in the PLA, where he rose from border guard to regimental commander. He enforces "iron discipline" in the workplace, where employees are fined when they violate the company's conservative dress code. Despite his age, he has a "trim figure".[10]

According to the Hurun Report, in 2014 he was the 26th richest person in the world with $25 billion.[11][12]

Politics[edit]

Wang is a communist. At the age of 15, he started his 17-year service with the People's Liberation Army, initially as a border guard before rising to become a regimental commander.[13][4] In 1976, he joined the Communist Party of China. He served as deputy to the 17th National Congress.[14]

Wang is a delegate to the Chinese National People's Congress.[15] He was twice named CCTV's “Economic Person of the Year”.[10] He serves as the Vice-Chairman of the All-China Federation of Industry and Commerce, and has been a member of the Chinese People's Political Consultative Conference since 2008.[citation needed]

In 2011, he donated US$197 million to charitable causes.[16] For example, he underwrote the restoration of an ancient temple in Nanjing.[16] In 2014-2015, he donated US$200,000 for the restoration of the Electric Fountain in Beverly Hills, California.[17]

Personal[edit]

Wang, a fan of folk music, has been known to sing Tibetan and Mongolian folk songs at Wanda's corporate annual meetings. An art collector, he purchased a Picasso painting for $28.2 million. He also acquired UK yacht maker Sunseeker for $1.6 billion.

Wang Jianlin's wife Lin Ning owns social clubs in Beijing and Dalian. His son, Wang Sicong (born in 1988), currently has 2% of ownership of Dalian Wanda.

References[edit]

  1. ^ "China's Richest Man Plans To Move Headquarters To Shanghai From Beijing". Forbes. Retrieved 11 May 2015. 
  2. ^ "The World's Billionaires". Forbes. Retrieved 29 May 2015. 
  3. ^ Profile of Wang Jialin, Forbes, March 2013
  4. ^ a b [dead link]
  5. ^ "Biography of Wang Jianlin", World Economic Forum
  6. ^ "Biography of Wang Jialin", Reuters
  7. ^ Minder, Raphael (September 23, 2014). "Sale of a Landmark Skyscraper Puts Spain on the Map of Chinese Investors". New York Times. 
  8. ^ http://rt.com/business/movie-metropolis-china-film-250/
  9. ^ Clifford Coonan, China’s Wanda to Spend $1.2 Billion on Beverly Hills Entertainment HQ, The Hollywood Reporter, 8/8/2014
  10. ^ a b "It’s a Wanda-ful life". The Economist. February 14, 2015. 
  11. ^ Profile of Wang Jianlin, Hurun Report, August 5, 2014
  12. ^ Jie Chen, Bruce J. Dickson, Allies of the State: China's Private Entrepreneurs and Democratic Change, Boston, MA: Harvard University Press, 2010, p. 55
  13. ^ "It's a Wanda-Ful Life; Dalian Wanda". The Economist. 14 February 2015. Retrieved 15 March 2015 – via HighBeam Research. (subscription required (help)). 
  14. ^ "2010 Forbes ranking", Forbes
  15. ^ Freeland, Chrystia (2013). Plutocrats: The rise of the new global super-rich. London: Penguin Books. p. 204. ISBN 9780141043425. 
  16. ^ a b Russell Flannery, Real Estate Developer Wang Jianlin Tops New Forbes China Philanthropy List, Forbes, April 25, 2011
  17. ^ City to Honor Wanda Group For Generous Fountain Restoration Gift, The Beverly Hills Courier, March 23, 2015