Cinema chain owner is China's richest person: Forbes
SHANGHAI (AFP) - A multi-billionaire who bought US cinema chain AMC Entertainment and has just acquired a luxury British yacht builder has taken top spot as China's richest man, according to Forbes magazine.
Mr Wang Jianlin, head of conglomerate Wanda Group - a private firm with interests ranging from property to retailing - had estimated wealth of US$14 billion (S$17.8 billion), the magazine said on its website.
His fortune soared from US$8 billion last year, when he was in third place, putting him now US$3 billion ahead of former title-holder Zong Qinghou, a beverage tycoon, it said.
A recovery in China's property market helped swell Mr Wang's wealth, Forbes Shanghai bureau chief Russell Flannery told AFP on Tuesday.