Wang is the founder and chairman of Dalian Wanda Group, a closely held conglomerate with interests in property, cinemas and retail. Its commercial management business had revenue of 39.1 billion yuan ($6 billion) in 2020. It bought AMC Entertainment for $2.6 billion in 2012 and almost entirely exited in May 2021.
Wang Jianlin's net worth of $6.06B can buy ...
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The majority of Wang's fortune is derived from his 50% stake in Dalian Wanda Commercial Management, a unit of the closely held Chinese conglomerate Dalian Wanda Group. Wang holds the stake directly and through his son and wife, and is attributed all of these shares to reflect his status as founder.
Wanda Commercial Management reported revenue of 39.1 billion yuan ($6 billion) in 2020, according to a company bond filing. It's valued using reported financial results and the average enterprise value-to-EBIT and price-to-earnings multiples of five publicly traded peers: Guangzhou R&F Properties Co Ltd, China Resources Land Ltd, Shimao Group Holdings Ltd., Red Star Macalline Group and Poly Developments and Holdings Group Co Ltd. The valuation was revised on May 18, 2021 to reflect the latest financials and new peers, and these changes led to a $3.5 billion decrease in the calculation.
Wang also owns 45% of publicly traded Wanda Film Holding, according to the company's 2021 first-quarter report.
Wang holds about 0.002% of AMC Entertainment Holdings, according to a regulatory filing in May 2021. Wanda bought AMC Entertainment for $2.6 billion in 2012 and almost entirely exited in May 2021.
Wanda Sports began trading publicly on July 26, 2019 and delisted on Feb. 1, 2021. It was previously valued based on trading price of the unit and the value of the business is based on its final market capitalisation prior to privatization.
The billionaire has collected more than 1,000 artworks worth $1.6 billion. Other assets include financial, sports and tourism businesses, and residential property in London.
Liabilities reflect the cost of assets as well as corporate debt.
Yang Zhuo, a spokesman for Wanda Group, declined to comment on Wang's net worth.
Wang was born to a military family in western China's Sichuan province in 1954. His father took the family to northeastern China when he was 15 years old, one year before his son enlisted in the People's Liberation Army. Wang served for 16 years before he was honorably discharged.
He started working as a government clerk in Xigang district in the northern port city of Dalian in 1986, and later took a job at an indebted residential developer affiliated with the district government.
Wang changed the company's name to Dalian Wanda and became the general manager in 1992. During the next 20 years, he developed the business into a diversified conglomerate with interests in commercial property development, tourism, entertainment and department store chains across China.
Wanda agreed in May 2012 to buy AMC Entertainment Holdings for $2.6 billion as part of Wang's efforts to expand into the U.S. and create the world’s biggest cinema company. Dalian Wanda Commercial Properties went public in a December 2014 initial public offering in Hong Kong.
Wang also owned Dalian Wanda Football Club when it held the title in the 1990s, according to reports in the local media. He bought a 20% stake in Spain's Atlético Madrid for $52.3 million in January 2015. Xinhua News Agency also reported in 2011 that Wang would spend over $78 million to train young Chinese soccer players in Europe.
Wang told Economic Information Daily that his only son, Wang Sicong, isn't interested in succeeding him and the billionaire will ensure he has a "powerful" board with capable professional managers.