Wealth of China's richest man doubled in past year

'GOOD TO HAVE MONEY': Mr Wang's wealth grew from $18.4 billion to $41.8 billion.


    Oct 27, 2015

    Wealth of China's richest man doubled in past year


    CHINA'S richest man saw his fortune balloon by nearly US$17 billion (S$24 billion) - a sum larger than the gross domestic product of Iceland - in the past year, business magazine Forbes said yesterday.

    Wang Jianlin, founder of real-estate and entertainment conglomerate Wanda Group, saw his wealth rocket from US$13.2 billion to US$30 billion in Forbes' 2015 China Rich List.

    The windfall was driven by the flotations of two of his firm's subsidiaries.

    Market forces and creative abilities were crucial to building major businesses in China, rather than personal connections, said Mr Wang.

    "It's good to have money," he said in a brief appearance at the announcement of the ranking. "The majority of people with money, especially extraordinarily rich people, are good people."