Guo Guangchang

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Guo Guangchang
郭广昌
BornFebruary 1967 (age 52)
EducationFudan University
OccupationBusinessman
Known forFounder and chairman, Fosun International Limited
Net worthUS$6.2 billion (January 2019)[1]
Spouse(s)Wang Jinyuan
Children3

Guo Guangchang (simplified Chinese: 郭广昌; traditional Chinese: 郭廣昌, born February 1967) is a Chinese businessman and investor. He is the chairman of Fosun International Limited, and a representative of the 12th Chinese People's Political Consultative Conference. According to Hurun Report's 2013 China Rich List he was the 41st richest person in China.[2] As of 2015 he was listed as the 34th richest person in China by Forbes, with a net worth of $7.3 billion.

Early life[edit]

Guo Guangchang was born in Dongyang, Zhejiang, in 1967. In 1989, Guo received a BA in Philosophy and an MBA from Fudan University.[citation needed]

Career[edit]

In 1992, Guo founded Guangxin Technology Development Company Ltd, which was among the first to use scientific methods in market research in mainland China. Since 1994, Guo has been the chairman of Fosun Group and invested in insurance, pharmaceuticals and healthcare, property, steel, mining, retail, services, finance and other investment, and asset management, creating one of the largest non-state owned enterprises in China.[citation needed]

Guo is a member of the National Committee of the 12th Chinese People's Political Consultative Conference, a member of the Standing Committee of All-China Federation of Industry and Commerce, a member of the Standing Committee of All-China Youth Federation, the Honorary Chairman of Shanghai Zhejiang Chamber of Commerce.[citation needed]

In 2007, Fosun International (00656.HK), the holding company of Fosun, was listed on the HKSE. Fosun has teamed up with IFC in reinsurance business, invested in Club Med of France, insurance company Fidelidade Seguros of Portugal and Folli Follie of Greece to jointly explore opportunities brought by the growth of China's economy.[citation needed]

At the 2010 Shanghai World Expo, Guo, together with 15 other Chinese entrepreneurs, funded the Chinese Private Enterprise Pavilion, which was the debut of China's non-state-owned enterprises in World Expo.[citation needed]

On 11 December 2015, it was reported that Guo has been detained by police, was "assisting authorities with an investigation", and had been "linked to a corruption court case in August". It has been speculated that he may have been caught up in Party General Secretary Xi Jinping’s anti-corruption efforts. This has led to shares in his Hong Kong-listed subsidiary being suspended.[3] On 14 December, Guo was released and appeared at Fosun's annual meeting in Shanghai. It was Guo's first public event since he was "assisting the investigation".[4]

Wealth[edit]

As of 2015 he was listed as the 34th richest person in China by Forbes, with a net worth of $7.3 billion. He nicknamed himself "China’s Warren Buffett".[5]

Philanthropy[edit]

Guo is the vice chairperson of China Glory Society, China Social Entrepreneur Foundation and Youth Business China Foundation. Fosun has donated an aggregate of up to 600 million RMB to charity causes to help fight poverty, improve access to education and provide natural disaster relief.[citation needed]

References[edit]

  1. ^ "Guo Guangchang". Forbes. Retrieved 15 January 2019.
  2. ^ http://www.hurun.net/en/HuList.aspx?nid=1
  3. ^ Chinese tycoon Guo Guangchang detained by police. BBC News, 11 December 2015. Retrieved 11 December 2015.
  4. ^ "Fosun founder Guo Guangchang appears in public". BBC News. 13 December 2015. Retrieved 13 December 2015.
  5. ^ Huang, Zheping; Huang, Zheping. "China's top bankers who "disappeared," were detained, or died unnaturally in the past year". Quartz. Retrieved 15 January 2019.

External links[edit]