Guo Guangchang (simplified Chinese: 郭广昌; traditional Chinese: 郭廣昌, born February 1967) is a Chinese billionaire business magnate and investor. He is the chairman of Fosun International Limited and a representative of the 12th Chinese People’s Political Consultative Conference. According to Hurun Report’s 2013 China Rich List he was the 41st richest person in China. As of 2015 he was listed as the 34th richest person in China by Forbes, with a net worth of $7.3 billion.
Early life
Guo Guangchang was born in Dongyang, Zhejiang, in 1967. In 1989, Guo received a BA in Philosophy and an MBA from Fudan University.
Career
In 1992, Guo founded Guangxin Technology Development Company Ltd, which was among the first to use scientific methods in market research in mainland China. 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.
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, a member of the Standing Committee of All-China Youth Federation, the Honorary Chairman of Shanghai Zhejiang Chamber of Commerce.
In 2007, Fosun International (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 of France, insurance company Fidelidade Seguros of Portugal and Folli Follie of Greece to jointly explore opportunities brought by the growth of China’s economy.
At the 2010 Shanghai World Expo, 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.
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’s anti-corruption 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”.
Guangchang Guo Net Worth: Guangchang Guo is a Chinese entrepreneur who has a net worth of $4.6 billion. Often dubbed as China’s Warren Buffet, Guangchang Guo is co-founder and chairman of Fosun International Limited, the largest private-owned conglomerate in Mainland China. Headquartered in Shanghai but incorporated in Hong Kong, the group holds business interests in pharmaceuticals, real estate, mining, steel, retail, publishing, finance, and asset management. A majority shareholder in Fosun, Guo saw a significant rise in his riches on the back of the group’s strong performance. In October 2013, Fosun inked a deal to buy One Chase Manhattan Plaza in New York for $725 million.
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