Wang Jianlin was born on 24 October 1954 in Cangxi County, Sichuan Province China, and is notable for being the chairman of Dalian Wanda Group, which is not only China’s largest real estate developer, but also the world’s largest operator of movie theatres. Most significantly, Wang is listed by Forbes magazine in 2015 as the richest person in China, and the 29th richest in the world.
So just how rich is Wang Jianlin? Forbes estimates that Wang’s net worth is more than $24 billion, much of his wealth having been accumulated from his real estate interests, not only in China but in other countries too. Of course, this sum may vary considerably from day-to-day, given the volatility of world stock markets to which Wang is now exposed.
Wang Jianlin Net Worth $24 Billion
Wang Jianlin’s father took part in the ‘long march’ which culminated in Mao Zedong and the communist party coming to power in China. Wang followed him into the red army, rising to become a regimental commander during his 17-year career, which began his rise in net worth. He joined the communist party in 1976, and is a delegate to the Chinese National People’s Congress.
Following his army career, Wang Jianlin worked as the Office Administrator for the Xigang District. In 1989, he became the General Manager of Xigang Residential Development, and in 1992, he started working as the General Manager for the Dalian Wanda Group, becoming the CEO in 1993, a position that he has held to the present day. Of course, Wang’s rising salaries contributed considerably to his net worth.
Wang Jianlin’s Dalia Wanda Group now owns 85 Wanda Shopping Plazas, 51 luxury hotels, 86 cinemas, 75 department stores, and 45 karaoke centres around China, and became the world’s largest theatre owner in 2012 when it acquired AMC Theaters, having bought out U.S.-based AMC Entertainment for $2.6 billion. The company was listed on the New York Stock Exchange in 2013. Further, Wang launched an $8 billion mini-Hollywood in the Chinese coastal city of Qingdao in September 2013. Of course, Wang Jianlin’s net worth rose commensurately with these business developments.
However, there is no doubt that Wang Jianlin is an astute businessman in a wider sphere than China. In 2014 Wang purchased the landmark Edificio España building in Madrid, Spain, from Grupo Santander, reputedly for 30% less than Banco Santander paid in 2005, and during this period had taken on billion-dollar hotel development projects in London and New York, as well as property projects in India.
In 2013 Wang Jianlin began building the world’s largest studio pavilion at Oriental Movie Metropolis in Qingdao China, including a 10,000 square meter studio and an underwater stage, with the cost estimated at $3 billion. Then in 2014, Wang bought land in Beverly Hills, California on which to build the American headquarters of his entertainment company. That Wang has such an impressive current net worth is hardly surprising.
In his personal life, Wang Jianlin married Lin Ning in 1986, and their son Wang Sicong now owns 2% of his father’s company. As with many billionaires, Wang Jianlin is also a noted philanthropist, donating many millions a year to charitable causes, including for the restoration of an ancient temple in Nanjing, and for the restoration of the Electric Fountain in Beverly Hills, California.