At a time when borders and birth nations are starting to mean less than ever, the richest man in Asia is now expanding his business acquisitions to include many companies in the United States. With a net worth of $30 billion, Wang Jianlin has utilized his business skills in order to leverage his real estate endeavors as well as his chain of movie theaters into quite a fortune.
More About Jianlin's Dealings
As aforementioned, the mogul owns a chain of movie theaters. Of course, this is no run of the mill chain. In 2012, Jianlin made a deal to purchase America's largest theater chain, AMC, to the tune of $2.6 billion. That stake in America's largest cinema chain is now worth roughly $2.2 billion. Now a prominent and well-known personality, the once semi-obscure businessman is now the world's 13th richest billionaire.
The Future of the Flagship
As with most wealthy businessmen, Jianlin is not content with simply being China's locally richest man. On a mission to turn his flagship, Dalian Wanda Commercial Properties, into a global business, Jianlin's goal is to see his sales increase by $60 billion, which would mean securing $100 billion in sales, over the next 5 years. To help further his aspirations, the mogul has spent the past 5 years putting billions in overseas investments. It is said that up to half of this $10 billion was spent in the US on his AMC Theaters acquisition as well as various real estate investments in both Beverly Hills and Chicago.
What's more, with plans on re-packaging both entertaining and sports for China's budding middle class, the mogul feels that his latest investments will prove to be quite lucrative, after all is said and done. Although, he points out that these sectors have not done exceptionally well in the Asian market in the past, he also notes that times have drastically changed in the area. No longer a time in which a huge population, is considered a hindrance, now that China's wealth is increasing, there will be an increased amount of disposable income available to be used in sectors such as the entertainment realm.
Moreover, after expanding his already massive empire to include a series shopping centers, luxury hotels, movie theaters, and more, Jianlin sets his sights to creating a Chinese entertainment empire that is one of the world's greatest. Either way, hopefully, America's dealings with this mogul will hopefully remain superbly beneficial for all parties involved.