Date
12 December 2017
Wang Jianlin is eyeing a Hong Kong listing for Dalian Wanda's real estate unit. Photo: internet
Wang Jianlin is eyeing a Hong Kong listing for Dalian Wanda's real estate unit. Photo: internet

Wang Jianlin to retake richest Chinese title soon from Jack Ma

Who is the richest man in mainland China: Wang Jianlin or Jack Ma?

All eyes are on Ma, chairman of Alibaba Group, which is seeking a listing on the New York Stock Exchange. He has a net worth of US$21.9 billion, according to the latest data from Bloomberg.

Wang, chairman of Dalian Wanda Group, comes next with a net worth of US$14.9 billion, according to Bloomberg. He was named the wealthiest person in mainland China in 2013 by Forbes and the Hurun Rich List with a net worth of more than US$14 billion.

The situation may not last long. Wang is likely to recapture the top position if Dalian Wanda successfully lists its real estate unit in Hong Kong.

The initial public offering could raise between US$5 billion and US$6 billion as soon as the end of this year, according to a Wall Street Journal report.

That could boost Wang’s net worth to US$34 billion, according to Apple Daily. It would make him even richer than Hong Kong tycoon Li Ka-shing who has a net worth of US$31 billion in 2013 as estimated by Forbes.

Dalian Wanda is mainly involved in commercial properties, hotels, department stores and tourism.

It is making a foray into e-commerce. On August 29, Wanda, Tencent and Baidu announced they have established an e-commerce company in Hong Kong with an initial investment of US$5 billion yuan.

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