Guo Guangchang (, born February 1967) is a Chinese businessman and investor. He is the chairman and co-founder of Fosun International Limited, and a representative of the 12th Chinese People's Political Consultative Conference. According to

Hurun Report Rupert Hoogewerf (born 1970 in Luxembourg), also known by his Chinese name Hu Run (), is the chairman and chief researcher of Hurun Report, a research, media and investments business, best known for its Hurun Rich List, a ranking of the wealthies ...

's ''2019 China Rich List'' he was the 45th richest person in China. As of 2022 he has a net worth of 3.8 Billion.

Early life and education

Guo Guangchang was born in Dongyang, Zhejiang, in 1967. In 1989, Guo received a BA in Philosophy and an MBA from

Fudan University Fudan University () is a national public research university in Shanghai, China. Fudan is a member of the C9 League, Project 985, Project 211, and the Double First Class University identified by the Ministry of Education of China. It is als ...

Career

Guangxin Technology Development Company Ltd.

In 1992, Guo founded Guangxin Technology Development Company Ltd, with friends Liang Zinjun and Tan Jian, which was among the first to use scientific methods in market research in mainland China.

Fosun Group

''See main article

Fosun International Fosun International Limited is a Chinese multinational conglomerate holding company. Founded in 1992 by Guo Guangchang and four others, the company is headquartered in Shanghai and was incorporated in Hong Kong in 2004. Its Co-CEOs are Chen Q ...

'' 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. Fosun International employs over 74,000 people. In 2007,

(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 Club Med SAS, commonly known as Club Med and previously known as Club Méditerranée SA, is a French travel and tourism operator headquartered in Paris, specializing in all-inclusive holidays. Founded in 1950, the company has been primarily o ...

of France, insurance company Fidelidade Seguros of Portugal and

Folli Follie Folli Follie is a Greek-based international company which designs, manufactures and distributes luxury jewellery, watches and fashion accessories. History The company was established in 1982 in Greece by Dimitris Koutsolioutsos ( el, Δημήτ ...

of Greece to jointly explore opportunities brought by the growth of China's economy. In July 2016 Guo’s Fosun International purchased the Wolverhampton Wanderers Football Club a professional association football club based in

Wolverhampton Wolverhampton () is a city, metropolitan borough and administrative centre in the West Midlands, England. The population size has increased by 5.7%, from around 249,500 in 2011 to 263,700 in 2021. People from the city are called "Wulfrunians ...

, West Midlands, England for a reported £45 million from previous owner Steve Morgan, Wolves went on to clinch the 2017–18

Championship In sport, a championship is a competition in which the aim is to decide which individual or team is the champion. Championship systems Various forms of competition can be referred to by the term championship. Title match system In this system ...

title, to return to the

Premier League The Premier League (legal name: The Football Association Premier League Limited) is the highest level of the men's English football league system. Contested by 20 clubs, it operates on a system of promotion and relegation with the English Fo ...

after a 6-year absence. Wanderers's return to the Premier League resulted in a seventh-place finish in their first season back, their highest placing in the top division since finishing sixth in 1979–80.This position also earned them a place in the

Europa League The UEFA Europa League (abbreviated as UEL, or sometimes, UEFA EL), formerly the UEFA Cup, is an annual football club competition organised since 1971 by the Union of European Football Associations (UEFA) for eligible European football clubs. It ...

and their first European campaign since 1980–81.

Chairmanships and memberships

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 The All-China Federation of Industry and Commerce (ACFIC; ) is a non-governmental chamber of commerce, established in 1953 as a successor to the chambers of commerce that were first founded during the Qing dynasty. Today, it consists of Chinese i ...

, a member of the Standing Committee of

All-China Youth Federation The All-China Youth Federation (ACYF; zh , s = 中华全国青年联合会 ) is a people's organization founded on 4 May 1949 that represents many youth groups in China, including the Communist Youth League of China. Former paramount leaders ...

, the Honorary Chairman of Shanghai Zhejiang Chamber of Commerce.

Shanghai World Expo

At the 2010

Shanghai World Expo Expo 2010, officially the Expo 2010 Shanghai China, was held on both banks of the Huangpu River in Shanghai, China, from 1 May to 31 October 2010. It was a major World Expo registered by the Bureau International des Expositions (BIE), in the tr ...

, 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.

Wealth

As of 2019 he was listed as the 50th richest person in China by ''Forbes'', with a net worth of $6.5 billion. He has been called "China’s

Warren Buffett Warren Edward Buffett ( ; born August 30, 1930) is an American business magnate, investor, and philanthropist. He is currently the chairman and CEO of Berkshire Hathaway. He is one of the most successful investors in the world and has a net ...

Recognition and awards

In 2017 Guo was honored with the 16th Asia Business Leaders Awards’ Lifetime Achievement Award by CNBC. He received the 2016/17 “Nobel Laureates Series-Asian Chinese Leaders Award” by Asian College of Knowledge Management, and the “Lifetime Achievement Award” at the 8th World Chinese Economic Summit in 2016.

Philanthropy

Guo is the vice chairperson of China Glory Society, China Social Entrepreneur Foundation and Youth Business China Foundation. Through the auspices of the Fosun Foundation, Guo 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.

Investigation

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 Xi Jinping ( ; ; ; born 15 June 1953) is a Chinese politician who has served as the general secretary of the Chinese Communist Party (CCP) and chairman of the Central Military Commission (CMC), and thus as the paramount leader of China, ...

’s

anti-corruption Anti-corruption (or anticorruption) comprises activities that oppose or inhibit corruption. Just as corruption takes many forms, anti-corruption efforts vary in scope and in strategy. A general distinction between preventive and reactive meas ...

efforts. This has led to shares in his Hong Kong-listed subsidiary being suspended. 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".

References

External links

Fosun International Limited

"Guo Guangchang
"China Rich List'', ''Forbes'' magazine, 2002
Bio
''ChinaVitae.com, retrieved December 11, 2007

China Radio International (CRIEnglish.com), January 13, 2005, retrieved December 12, 2007 {{DEFAULTSORT:Guo, Guangchang 1967 births Living people 21st-century Chinese businesspeople Billionaires from Zhejiang Businesspeople from Zhejiang Chinese company founders Chinese investors Chinese philanthropists Chinese real estate businesspeople Fosun International people Fudan University alumni People's Republic of China politicians from Zhejiang People from Dongyang Politicians from Jinhua Members of the 12th Chinese People's Political Consultative Conference