Tuesday, 4 March 2014

TIDBIT



To become a country’s richest man is challenging, all the more so when you have 1.3 billion compatriots. China’s Wang Jianlin, the son of a Red Army veteran and chairman of Dalian Wanda group, a property and leisure conglomerate he built from scratch, managed just that after amassing a fortune put at $14.1billion by Forbes. This is a story bound for Hollywood in more ways than one. Bold foreign acquisitions have turned Wanda into the world’s biggest cinema operator, as well as swelling a portfolio of shopping plazas and hotels. Mr Wang recently unveiled an $8.2billion cultural-tourism city in Wuxi. Western entertainment firms should prepare for competition from a big fish called Wanda.

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