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Here's why China's billionaires are disappearing

Here’s why China’s billionaires are disappearing

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The ‘Warren Buffet of China’

China is home to fifty individuals with a net worth of one billion US dollars or more. One of China’s most high-profile entrepreneurs has disappeared. Guo Guangchang has an estimated net worth of $7 billion, and is an owner and investor in many Chinese industries. Through his investment vehicle the Fosun Group, the Chinese tycoon has interests in diverse fields from financial services, to mining, retail and many others. These endeavours allowed his company to become one the largest private enterprises in China, a country where state-run businesses still reign supreme. Guo Guangchang’s disappearance is just the most recent suspicious circumstance to befall China’s business class. Read More

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