Reversal of fortune: Dalian Wanda's Wang Jianlin sheds acquisitions to keep afloat

Mr Wang Jianlin's reversal in fortune came in 2017.
Mr Wang Jianlin's reversal in fortune came in 2017.PHOTO: BLOOMBERG

SINGAPORE - Entrepreneur Wang Jianlin used to be China's richest man, known for his extravagant acquisitions, but his fortunes have dipped following the move by the government to curb capital outflows and the economic fallout due to Covid-19.

Gone are the days when his lavish spending - which included purchasing a US$20.4 million (S$27 million) Claude Monet painting to being the organiser of Ironman triathlons which cost US$650 million - made headlines.

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