Wang Jianlin (; born 24 October 1954) is a Chinese
business magnate,
investor
An investor is a person who allocates financial capital with the expectation of a future return (profit) or to gain an advantage (interest). Through this allocated capital most of the time the investor purchases some species of property. Type ...
and
philanthropist. He is the founder of
Dalian Wanda Group, China's largest
real estate development
Real estate development, or property development, is a business process, encompassing activities that range from the renovation and re-lease of existing buildings to the purchase of raw land and the sale of developed land or parcels to other ...
company, and the world's largest movie theater operator.
He previously owned 17% of the Spanish football club
Atlético Madrid. In 2016, Wang reached a deal with
FIFA to launch the
China Cup, in which national football teams compete in
Nanning,
Guangxi each year.
Wang has been the economic consultant for
Yunnan province
Yunnan , () is a landlocked province in the southwest of the People's Republic of China. The province spans approximately and has a population of 48.3 million (as of 2018). The capital of the province is Kunming. The province borders the ...
, as well as a construction consultant of the
Guiyang government, and was named honourable citizen of
Changchun, and "outstanding contributor" to the construction of
Dalian.
As of November 2020, Wang is estimated by ''
Forbes
''Forbes'' () is an American business magazine owned by Integrated Whale Media Investments and the Forbes family. Published eight times a year, it features articles on finance, industry, investing, and marketing topics. ''Forbes'' also r ...
'' to have a net worth of US$14.4 billion, making him one of the richest men in China.
Early life and career
Wang Jianlin was born on 24 October 1954, in
Cangxi County
Cangxi County () is a county of northeastern Sichuan Province, China, located along the upper reaches of the Jialing River. It is under the administration of Guangyuan City. The population in 2020 was 512,617.
Cangxi produces red kiwifruit, a p ...
,
Guangyuan
Guangyuan () is a prefecture-level city in Sichuan Province, China, bordering the provinces of Shaanxi to the northeast and Gansu to the northwest. The city has a population of 2,305,657 as of the 2020 census.
Located roughly between the provin ...
,
Sichuan
Sichuan (; zh, c=, labels=no, ; zh, p=Sìchuān; alternatively romanized as Szechuan or Szechwan; formerly also referred to as "West China" or "Western China" by Protestant missions) is a province in Southwest China occupying most of the ...
,
[He was born in the Second People's Hospital of Mianyang Special District, in what is today known as Cangxi] as the oldest of five boys.
[Alt URL]
/ref> His father Wang Yiquan was a peasant who fought for Mao Zedong
Mao Zedong pronounced ; also romanised traditionally as Mao Tse-tung. (26 December 1893 – 9 September 1976), also known as Chairman Mao, was a Chinese communist revolutionary who was the founder of the People's Republic of China (PRC) ...
's People's Liberation Army during the Long March
The Long March (, lit. ''Long Expedition'') was a military retreat undertaken by the Red Army of the Chinese Communist Party (CCP), the forerunner of the People's Liberation Army, to evade the pursuit of the National Army of the Chinese ...
(October 1934–October 1935). Retired from the army just before the Korean War
, date = {{Ubl, 25 June 1950 – 27 July 1953 (''de facto'')({{Age in years, months, weeks and days, month1=6, day1=25, year1=1950, month2=7, day2=27, year2=1953), 25 June 1950 – present (''de jure'')({{Age in years, months, weeks a ...
, his father, working for the forestry service, and mother Qin Jialin settled in a village in Jinchuan County
Jinchuan County (; ) is a county in the northwest of Sichuan Province, China. It is under the administration of the Ngawa Tibetan and Qiang Autonomous Prefecture. The seat of county is Jinchuan Town (Rabden).
The county spans an area of 5,524 ...
, Sichuan
Sichuan (; zh, c=, labels=no, ; zh, p=Sìchuān; alternatively romanized as Szechuan or Szechwan; formerly also referred to as "West China" or "Western China" by Protestant missions) is a province in Southwest China occupying most of the ...
, where their son would grow up. His given name at birth was originally 建林 which can be translated as 'forest builder'.
Wang became a soldier at age 15, lying about his age, and made his way up in the army ranks quickly, becoming a commander at age 27. During his time in the army, he served in Chengdu
Chengdu (, ; simplified Chinese: 成都; pinyin: ''Chéngdū''; Sichuanese pronunciation: , Standard Chinese pronunciation: ), alternatively romanized as Chengtu, is a sub-provincial city which serves as the capital of the Chinese pro ...
, before being sent to the Shenyang Military Region
The Shenyang Military Region was one of seven military regions for the Chinese People's Liberation Army. It has command and control of military and armed police forces in the three northeast provinces of Jilin, Heilongjiang, and Liaoning, whi ...
in 1970. After 17 years in the army, in 1986 Wang started working as the office administrator for the Xigang District in the city of Dalian.["Biography of Wang Jianlin"](_blank)
World Economic Forum In 1988, using a $80,000 loan, he took over the small property developer Xigang Residential Development. In 1992, as the company went public as one of the first in a pilot program, he was promoted to general manager and changed the name to Dalian Wanda.
His company owns 21.57 million square metres of investment property, 168 Wanda Shopping Plazas, 82 luxury hotels, 213 cinemas, 99 department stores, and 54 karaoke centres around China. The company became the world's largest theatre owner in 2012 when it acquired AMC Theatres
AMC Entertainment Holdings, Inc. (d/b/a AMC Theatres, originally an abbreviation for American Multi-Cinema; often referred to simply as AMC and known in some countries as AMC Cinemas or AMC Multi-Cinemas) is an American movie theater chain fou ...
. He bought out U.S.-based AMC Entertainment for . He listed it on the New York Stock Exchange
The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District of Lower Manhattan in New York City. It is by far the world's largest stock exchange by market capitalization of its listed ...
in December. He flew in celebrities Leonardo DiCaprio, Kate Beckinsale
Kathrin Romany Beckinsale (born 26 July 1973) is an English actress and model. After some minor television roles, her film debut was ''Much Ado About Nothing'' (1993) while a student at the University of Oxford. She appeared in British costume ...
, and John Travolta to help launch a mini- Hollywood in the coastal city of Qingdao in January 2014.
Wanda Group acquired the landmark Edificio España building in Madrid
Madrid ( , ) is the capital and most populous city of Spain. The city has almost 3.4 million inhabitants and a Madrid metropolitan area, metropolitan area population of approximately 6.7 million. It is the Largest cities of the Europ ...
, Spain, in March 2014 from Grupo Santander
Banco Santander, S.A., doing business as Santander Group (, , Spanish: ), is a Spanish multinational financial services company based in Madrid and Santander in Spain. Additionally, Santander maintains a presence in all global financial centre ...
for "about a third less than the €389 million that Banco Santander paid in 2005, at the height of Spain's construction boom". Previously, Dalian Wanda had taken on billion-dollar hotel development projects in London and New York, as well as property projects in India.
In 2014, he acquired land at 9900 Wilshire Boulevard
Wilshire Boulevard is a prominent boulevard in the Los Angeles area of Southern California, extending from Ocean Avenue in the city of Santa Monica east to Grand Avenue in the Financial District of downtown Los Angeles. One of the principal ...
in Beverly Hills
Beverly Hills is a city located in Los Angeles County, California. A notable and historic suburb of Greater Los Angeles, it is in a wealthy area immediately southwest of the Hollywood Hills, approximately northwest of downtown Los Angeles. ...
, California to build the American headquarters named "One Beverly Hills" of his entertainment company.[Clifford Coonan]
China's Wanda to Spend $1.2 Billion on Beverly Hills Entertainment HQ
''The Hollywood Reporter
''The Hollywood Reporter'' (''THR'') is an American digital and print magazine which focuses on the Hollywood film, television, and entertainment industries. It was founded in 1930 as a daily trade paper, and in 2010 switched to a weekly larg ...
'', 8/8/2014
In January 2015 it was reported that he was buying a 20% stake in the Spanish football club Atlético Madrid for . He sold his stake to Quantum Pacific Group for an undisclosed fee in 2018.
In 2016, Wang launched a direct competition with Disney
The Walt Disney Company, commonly known as Disney (), is an American multinational mass media and entertainment conglomerate headquartered at the Walt Disney Studios complex in Burbank, California. Disney was originally founded on October ...
by declaring that he wants to make sure Shanghai Disneyland Park
Shanghai Disneyland (; Pinyin: ''Shànghǎi díshìní lèyuán'') is a theme park located in Chuansha New Town, Pudong, Shanghai, China, that is part of the Shanghai Disney Resort. The park is operated by Disney Parks, Experiences and Product ...
doesn't make any money in China by launching over a dozen competing amusement parks. In November 2016 Wang's Dalian Wanda Group announced plans to acquire Dick Clark
Richard Wagstaff Clark (November 30, 1929April 18, 2012) was an American radio and television personality, television producer and film actor, as well as a cultural icon who remains best known for hosting '' American Bandstand'' from 1956 to 19 ...
Productions for about , giving it the broadcasting rights to the Golden Globe Awards, the Academy of Country Music Awards
The Academy of Country Music Awards, also known as the ACM Awards, were first held in 1966, honoring the industry's accomplishments during the previous year. It was the first country music awards program held by a major organization. The academ ...
, and the New Year countdown celebrations in New York. Wanda already owns Legendary Entertainment
Legendary Pictures Productions, LLC ( doing business as Legendary Entertainment or simply Legendary) is an American film production and mass media company based in Burbank, California, founded by Thomas Tull in 2000. The company has collaborated ...
, co-producer of films such as '' Jurassic World'', and U.S. cinema chain AMC Entertainment Holdings.
''The Economist
''The Economist'' is a British weekly newspaper printed in demitab format and published digitally. It focuses on current affairs, international business, politics, technology, and culture. Based in London, the newspaper is owned by The Eco ...
'' called him "a man of Napoleonic
Napoleon Bonaparte ; it, Napoleone Bonaparte, ; co, Napulione Buonaparte. (born Napoleone Buonaparte; 15 August 1769 – 5 May 1821), later known by his regnal name Napoleon I, was a French military commander and political leader wh ...
ambition", 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
A dress code is a set of rules, often written, with regard to what clothing groups of people must wear. Dress codes are created out of social perceptions and norms, and vary based on purpose, circumstances, and occasions. Different societies a ...
. Despite his age, he has a "trim figure".
Politics and charity
At the age of 15, Wang started his 17-year service with the People's Liberation Army, initially as a border guard before rising to become a regimental commander. In 1976, he joined the Communist Party of China
The Chinese Communist Party (CCP), officially the Communist Party of China (CPC), is the founding and sole ruling party of the People's Republic of China (PRC). Under the leadership of Mao Zedong, the CCP emerged victorious in the Chinese Civil ...
. He served as deputy to the 17th National Congress.["2010 Forbes ranking"](_blank)
''Forbes''
Wang is a delegate to the Chinese National People's Congress
The National People's Congress of the People's Republic of China (NPC; ), or simply the National People's Congress, is constitutionally the supreme state authority and the national legislature of the People's Republic of China.
With 2,9 ...
. He was twice named CCTV's "Economic Person of the Year".[ He is the vice chairman of the ]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 ...
, and has been a member of the Chinese People's Political Consultative Conference since 2008.
He is vice chair of the China Charity Confederation; vice chair of the China Folk Chamber of Commerce; vice chair of the China Enterprise Confederation and the China Enterprise Directors Association; vice chair of the China General Chamber of Commerce; vice-chair of the Global Advisory Council of Harvard University
Harvard University is a private Ivy League research university in Cambridge, Massachusetts. Founded in 1636 as Harvard College and named for its first benefactor, the Puritan clergyman John Harvard, it is the oldest institution of high ...
.
In 2011, he donated to charitable causes,[Russell Flannery]
Real Estate Developer Wang Jianlin Tops New Forbes China Philanthropy List
''Forbes'', April 25, 2011 such as underwriting the restoration of an ancient temple in Nanjing
Nanjing (; , Mandarin pronunciation: ), alternately romanized as Nanking, is the capital of Jiangsu province of the People's Republic of China. It is a sub-provincial city, a megacity, and the second largest city in the East China region. T ...
. In 2014-2015 he donated for the restoration of the Electric Fountain in Beverly Hills, California.[City to Honor Wanda Group For Generous Fountain Restoration Gift](_blank)
''The Beverly Hills Courier
''The Beverly Hills Courier'' is a free weekly tabloid-sized print newspaper of circulation in Beverly Hills and the surrounding communities, and a daily web newspaper.
History
The publication was founded by March Schwartz in 1965. His staff incl ...
'', March 23, 2015 In 2017 he donated CNY 20 million to help 2017 Sichuan landslide victims, it was speculated that he empathized especially with the region having grown up in Ngawa Prefecture
Ngawa Tibetan and Qiang Autonomous Prefecture, also known as Aba (; Qiang: ; ), is an autonomous prefecture of northwestern Sichuan, bordering Gansu to the north and northeast and Qinghai to the northwest. Its seat is in Barkam, and it has an ...
himself.
Wang maintains a close relationship with the Chinese Communist Party
The Chinese Communist Party (CCP), officially the Communist Party of China (CPC), is the founding and sole ruling party of the People's Republic of China (PRC). Under the leadership of Mao Zedong, the CCP emerged victorious in the Chinese Civil ...
. The ''New York Times'' reported in 2015 that relatives of high-ranking Party officials amassed a stake in the company prior to the IPO of Dalian Wanda which appreciated to over $1.1 billion when the company was listed. These relatives include Qi Qiaoqiao
Qi Qiaoqiao (born 1 March 1949) is a Chinese businesswoman, former civil official, and elder sister to Xi Jinping, current Chinese Communist Party general secretary and Paramount leader of China.
Early life and education
Qi was born in Yan'an ...
, the sister of 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, ...
, as well as the daughter of Wen Jiabao
Wen Jiabao (born 15 September 1942) is a retired Chinese politician who served as the Premier of the State Council from 2003 to 2013. In his capacity as head of government, Wen was regarded as the leading figure behind China's economic polic ...
.
However, Wang's personal motto
A motto (derived from the Latin , 'mutter', by way of Italian , 'word' or 'sentence') is a sentence or phrase expressing a belief or purpose, or the general motivation or intention of an individual, family, social group, or organisation. Mot ...
is “stay close to the government and distant from politics.” He believes entrepreneurs should be "close" to the government and "clear" from the government as well. "If the government never talk to entrepreneurs, they'll never know what entrepreneurs want to invest, develop or solve."
In 2010, Wang donated a billion yuan (US$156 million) to the city of Nanjing
Nanjing (; , Mandarin pronunciation: ), alternately romanized as Nanking, is the capital of Jiangsu province of the People's Republic of China. It is a sub-provincial city, a megacity, and the second largest city in the East China region. T ...
for reconstruction of the Porcelain Tower of Nanjing . This is reported to be the largest single personal donation ever made in China.
Wealth
Wang Jianlin has been ranked prominently in worldwide billionaire lists for years.
The previous year, ''Forbes'' ranked him the 128th richest person in the world, with . In August 2013, he was listed as the wealthiest person in China with a net worth of by Bloomberg Bloomberg may refer to:
People
* Daniel J. Bloomberg (1905–1984), audio engineer
* Georgina Bloomberg (born 1983), professional equestrian
* Michael Bloomberg (born 1942), American businessman and founder of Bloomberg L.P.; politician and m ...
. In September 2013, his net worth rose to , according to numbers of the Hurun Report.
According to the 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 ...
, in 2014 he was the 25th richest person in the world with .[Profile of Wang Jianlin](_blank)
''Hurun Report'', August 5, 2014[Jie Chen, Bruce J. Dickson]
''Allies of the State: China's Private Entrepreneurs and Democratic Change''
Boston
Boston (), officially the City of Boston, is the state capital and most populous city of the Commonwealth of Massachusetts, as well as the cultural and financial center of the New England region of the United States. It is the 24th- mo ...
, MA: Harvard University Press
Harvard University Press (HUP) is a publishing house established on January 13, 1913, as a division of Harvard University, and focused on academic publishing. It is a member of the Association of American University Presses. After the retir ...
, 2010, p. 55
In 2015, Bloomberg Bloomberg may refer to:
People
* Daniel J. Bloomberg (1905–1984), audio engineer
* Georgina Bloomberg (born 1983), professional equestrian
* Michael Bloomberg (born 1942), American businessman and founder of Bloomberg L.P.; politician and m ...
listed him as the richest person in Asia with .
According to ''Forbes
''Forbes'' () is an American business magazine owned by Integrated Whale Media Investments and the Forbes family. Published eight times a year, it features articles on finance, industry, investing, and marketing topics. ''Forbes'' also r ...
'', in 2016 he was the richest person in Asia with .
A year later, ''Forbes'' ranked him 18th in its 2017 World's Billionaires list, making him the richest man in China with a net worth of . However, on May 14, Jack Ma
Jack Ma Yun (; born 10 September 1964) is a Chinese business magnate, investor and philanthropist. He is the co-founder and former executive chairman of Alibaba Group, a multinational technology conglomerate. In addition, he co-founded Yunfen ...
overtook Wang Jianlin as the richest man in China, thanks to Ma's Alibaba Group's increases in stock prices.
In 2020, Wang tumbled down the rich list as his real estate empire and movie theatre chains both sharply declined in the wake of the COVID-19 pandemic
The COVID-19 pandemic, also known as the coronavirus pandemic, is an ongoing global pandemic of coronavirus disease 2019 (COVID-19) caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). The novel virus was first identi ...
. ''Forbes'' ranked him outside the top 10 in its 2020 list of Richest Chinese Billionaires with an estimated net worth of $14 billion.
As of 11/30/2022, ''Forbes'' ranked him 39th in China Rich List and 138th its 2022 World's Billionaires list with an estimated net worth of $7.9 billion.
Personal life
He is married to Lin Ning (), and has a son, Wang Sicong (; born 1988), educated at Winchester College
Winchester College is a public school (fee-charging independent day and boarding school) in Winchester, Hampshire, England. It was founded by William of Wykeham in 1382 and has existed in its present location ever since. It is the oldest of ...
and University College London
, mottoeng = Let all come who by merit deserve the most reward
, established =
, type = Public research university
, endowment = £143 million (2020)
, budget = ...
in the UK. Wang Sicong is currently a board member of the Wanda Group and a venture capitalist in China through his Beijing-based private equity fund, Prometheus Capital (普思投资).
Wang is a follower of Buddhism
Buddhism ( , ), also known as Buddha Dharma and Dharmavinaya (), is an Indian religions, Indian religion or Indian philosophy#Buddhist philosophy, philosophical tradition based on Pre-sectarian Buddhism, teachings attributed to the Buddha. ...
, although he considers himself not religious. Owing to his years of military service, he lives with military discipline. He is also noted for singing Tibetan and Mongolian folk songs. His hobbies are collecting art and singing karaoke.
In December 2015 Wang bought 15a Kensington Palace Gardens, London, for £80 million. The house was previously lived in by the Ukrainian billionaire, Leonard Blavatnik
Sir Leonard Valentinovich Blavatnik, russian: Леонид Валентинович Блаватник, Leonid Valentinovich Blavatnik (born June 14, 1957) is a Ukraine-born American-British business magnate and philanthropist. As of March 202 ...
, who rented it during lengthy works on the house he owns opposite.
In July 2016, Wang released his book, ''The Wanda Way: The managerial philosophy and values of one of China's largest companies''. The book was published globally by LID Publishing.[, LID Publishing, copyright 2016] The book includes his renowned 2013 China Central Television Voice interview, his speech and question-and-answer session to the Harvard Business School, and Wang's business philosophy on Wanda's real estate, resort, and movie units.
Bibliography
* ''The Wanda Way: The managerial philosophy and values of one of China's largest companies'' (2016)
Notes
References
{{DEFAULTSORT:Wang, Jianlin
1954 births
Living people
20th-century Chinese businesspeople
21st-century Chinese businesspeople
Billionaires from Sichuan
Businesspeople from Sichuan
Chinese business writers
Chinese chief executives
Chinese Communist Party politicians from Sichuan
Chinese Buddhists
Chinese company founders
Chinese football chairmen and investors
Chinese investors
Chinese philanthropists
Chinese real estate businesspeople
Dalian Wanda Group people
Liaoning University alumni
Members of the Standing Committee of the 11th Chinese People's Political Consultative Conference
People's Liberation Army personnel
People's Republic of China politicians from Sichuan
Politicians from Guangyuan
Real estate company founders
Writers from Guangyuan