Tuesday, 23 December 2014

Billionaire’s angle (Wang Jianlin)

Wang Jianlin
I was watching TV yesterday evening, I noticed that most channels I tuned to were talking about the Chinese Billionaire Wang Jianlin especially because his property firm came out to raise funds in an IPO, so I decided to listen and also do a research. So let’s go

Wang Jianlin was born in 1954, so he should be 60 now, he was brought up by his father, an Army veteran in an industrial region of China’s western Sichuan Province, who fought under Mao Zedong’s Red Army during the Long March Campaign. Wang Jianlin is the eldest and he has 4 younger brothers and he is married to Lin Ning.

As a teenager, Wang Jianlin joined the Liberation Army and served till 1988, Wang left the army and borrowed 1 million Yuan ($161,000) to start a real estate company in Dalian, northeast China. And in 1992 he took over a bankrupt property developer which later became
the Dalian Wanda and ever since then, it’s been growing fast and great. He also attracted global firms such as Wal-Mart stores Inc and Macquarine Group as partners.

He was interviewed by Andrew Stevens of CNN mid this year, where he also show cased the interiors of the Dalian Wanda tower which is a flagship of property development and retail. It is such a beautiful and overwhelming place. He said “in 2014, we will become the world’s largest real estate company, we will definitely make it international”

He owns some of the prime real estates across China in the form of luxury hotels, office towers and shopping complexes. He is one of the first Chinese business men to own a private jet.

His ambition is for the group to have a major global influence. He poured funds into movie studios, theme parks and other ventures in a bid to expand his growth and revenues. In 2012, he bought AMC Entertainment Holdings, the second largest US cinema Chain for £1.6bn.  He has plans of building Chinese Hollywood in the north eastern port city of Qingdao, complete with 20 movie studios, indoor theme park and yacht club.

He is worth $15.2 billion, he has stakes in Sunseeker Yachts and he told Bloomberg, that he is planning to buy into Lions Gate Entertainment, he is also looking at building luxury hotels in London.

According to CNBC news Dalian Wanda properties raised $ 3.7 billion by selling 600 million shares at $6.19 each. This is described as Asia’s biggest Initial Public Offering.
Jianlin said on Saturday 20th December at the opening ceremony of a movie park in Wuhan City in China that his Dalian Wanda group will compete with Disneyland and probably opens theme parks in the United States in the future.

In January, he plans to reveal how he wants to divert mostly into culture and tourism, e-commerce and finance.

Wang Jianlin said “Our cultural tourism cities will try to rival Disneyland parks in Hong kong and Shanghai in terms of visitors and revenue. If we do well, Wanda will probably build theme parks in the US”.

According to Forbes, Wang is China's richest man after Hong Kong's listing

My personal lessons from this man.

  • His dreams are always very big
  • He acts on the dreams, he has the ability to execute projects no matter how big
  • He is bent on developing his nation, he is also very involved in other sectors of his country’s economy (read that in his profile)
  • He is not scared of obstacles
  • He collaborates and diversifies.
For Stt Blog: Oluyisola Blessing

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