Guo Guangchang
{{family name hatnote|Guo|lang=Chinese}}
{{short description|Chinese businessman and investor (born 1967)}}
{{Infobox person
| name = Guo Guangchang
郭广昌
| image = Guo Guangchang.jpg
| alt =
| caption =
| birth_date = {{Birth date and age|1967|2|16}}
| birth_place = Dongyang, Zhejiang, China
| occupation = Businessman
| known_for = Founder and chairman, Fosun International Limited
| education = Fudan University
| spouse = Wang Jinyuan
| children = 3
}}
Guo Guangchang ({{zh|s=郭广昌|t=郭廣昌}}, born February 1967) is a Chinese businessman and investor. He is the chairman and co-founder of Fosun International Limited, and a representative of the 12th Chinese People's Political Consultative Conference. As of July 2024, Forbes estimated his net worth was US$2.8 billion.{{Cite web|url=https://www.forbes.com/profile/guo-guangchang/|title=Guo Guangchang|website=Forbes|language=en|access-date=17 July 2024}} According to Hurun Report's 2019 China Rich List he was the 45th richest person in China.{{Cite web|url=https://www.hurun.net/EN/Article/Details?num=CE08472BB47D|title=LEXUS·Hurun China Rich List 2019|date=10 October 2019|website=Hurun Report|access-date=1 January 2020|archive-date=6 November 2020|archive-url=https://web.archive.org/web/20201106155408/https://www.hurun.net/EN/Article/Details?num=CE08472BB47D|url-status=dead}}
Early life
Guo Guangchang was born in Dongyang, Zhejiang, in 1967. In 1989, Guo received a BA in Philosophy and an MBA from Fudan University.{{Cite web|url=http://www.chinavitae.com/biography/Guo_Guangchang|title=China Vitae : Biography of Guo Guangchang|website=www.chinavitae.com|access-date=2019-11-24}}
Career
=Guangxin Technology Development Company Ltd.=
In 1992, Guo founded Guangxin Technology Development Company Ltd, with friends Liang Zinjun and Tan Jian,{{Cite web|url=https://www.scmp.com/business/china-business/article/1075123/making-tycoon-guo|title=The making of tycoon Guo Guangchang|last1=Chan|first1=Ray|last2=Chen|first2=Georg|date=3 November 2012|website=South China Morning Post|language=en|access-date=2019-12-03}} which was among the first to use scientific methods in market research in mainland China.{{Cite web|url=https://www.ft.com/content/74233bfe-9fa2-11e5-beba-5e33e2b79e46|title=China's Warren Buffet caught up in Beijing probe|last=Anderlini|first=Jamil|date=11 December 2015|website=www.ft.com|access-date=2019-12-03}}
=Fosun Group=
{{main|Fosun International}}
Since 1994, Guo has been the chairman of Fosun Group and invested in insurance, pharmaceuticals and healthcare, property, steel, mining, retail, services, finance and other investment, and asset management, creating one of the largest non-state owned enterprises in China.{{Cite web |date=2017-11-11 |title=Fosun Founder Guo Guangchang Steps Down From Tech Unit - Caixin Global |url=https://www.caixinglobal.com/2017-11-11/fosun-founder-guo-guangchang-steps-down-from-tech-unit-101169093.html |access-date=2019-12-03 |website=www.caixinglobal.com |language=en}} Fosun International employs over 74,000 people.{{Cite web|url=https://uk.finance.yahoo.com/quote/0656.HK/|title=FOSUN INTL (0656.HK) stock price, quote, history & news|website=uk.finance.yahoo.com|language=en-GB|access-date=2019-12-03}}
In 2007, Fosun International the holding company of Fosun, was listed on the HKSE.{{Cite news|url=https://www.reuters.com/article/fosun-pricing-ipo-idUSHKG21808020070706|title=UPDATE 3-China's Fosun prices $1.5 bln HK IPO at top of range|date=2007-07-06|work=Reuters|access-date=2019-12-03|language=en}} Fosun has invested in Club Med of France,{{Cite news|url=https://www.reuters.com/article/us-fosuntourism-ipo-idUSKCN1LK0P7|title=China's Fosun files for Club Med IPO in Hong Kong, seeks up to $700 million: sources|date=2018-09-04|work=Reuters|access-date=2019-12-03|language=en}} insurance company Fidelidade Seguros of Portugal{{Cite web|url=https://www.ft.com/content/ddcad8aa-7952-11e3-b381-00144feabdc0|title=China’s Fosun buys Portuguese insurer Caixa Seguros|date=9 January 2014|website=www.ft.com|access-date=2019-12-03}} and Folli Follie of Greece to jointly explore opportunities brought by the growth of China's economy.{{Cite web|url=https://www.cnbc.com/2019/01/24/chairman-of-fosun-international-well-continue-to-bet-big-on-china.html|title=Chairman of multibillion-dollar Chinese conglomerate: We'll continue to bet big on China|last=Ng|first=Abigail|date=2019-01-24|website=CNBC|language=en|access-date=2019-12-03}}
On 11 December 2015, it was reported that Guo has been detained by police, was "assisting authorities with an investigation", and had been "linked to a corruption court case in August". It has been speculated that he may have been caught up in Party General Secretary Xi Jinping’s anti-corruption efforts. This has led to shares in his Hong Kong-listed subsidiary being suspended.[https://www.bbc.co.uk/news/business-35068463 Chinese tycoon Guo Guangchang detained by police.] BBC News, 11 December 2015. Retrieved 11 December 2015. On 14 December, Guo was released and appeared at Fosun's annual meeting in Shanghai. It was Guo's first public event since he was "assisting the investigation".{{cite news|title=Fosun founder Guo Guangchang appears in public |url=https://www.bbc.com/news/business-35089316 |publisher=BBC News |date=13 December 2015 |access-date=13 December 2015}}
In July 2016 Guo’s Fosun International purchased the Wolverhampton Wanderers Football Club a professional association football club based in Wolverhampton, West Midlands, England for a reported £45 million from previous owner Steve Morgan, Wolves went on to clinch the 2017–18 Championship title, to return to the Premier League after a 6-year absence. Wanderers's return to the Premier League resulted in a seventh-place finish in their first season back, their highest placing in the top division since finishing sixth in 1979–80.This position also earned them a place in the Europa League and their first European campaign since 1980–81.{{Cite news|url=https://www.bbc.com/sport/football/36852323|title=Wolves bought by Chinese conglomerate Fosun International for £45m|work=BBC Sport |date=July 21, 2016}}{{Cite web|url=https://www.expressandstar.com/sport/football/wolverhampton-wanderers-fc/2019/05/06/confirmed-wolves-to-finish-seventh-in-the-premier-league/|title=Confirmed: Wolves to finish seventh in the Premier League|first=Joe|last=Edwards|website=www.expressandstar.com|date=6 May 2019 }}{{Cite web|url=https://www.wolves.co.uk/news/club/20190830-europa-league-group-stage-fixtures-confirmed/|title=Europa League group stage fixtures confirmed|website=www.wolves.co.uk}} Following these relatively successful seasons, the club has recently fallen into disarray with club Chairman Jeff Shi showing significant incompetence with signings, managerial appointments and general running of the club.{{Cite web|url=https://www.bbc.com/sport/football/66403405.amp/|title=Wolves do not appear in a great place|first=Simon|last=Stone|website=www.bbc.com|date=4 August 2023 }}
Politics
Guo is a member of the National Committee of the 12th Chinese People's Political Consultative Conference, a member of the Standing Committee of All-China Federation of Industry and Commerce, a member of the Standing Committee of All-China Youth Federation, the Honorary Chairman of Shanghai Zhejiang Chamber of Commerce.{{Cite web|url=http://www.daonong.com/English/information/2013/0813/41194.html|title=Guo Guangchang-Membership_English-中国企业家俱乐部|website=www.daonong.com|access-date=2019-12-03}}
Recognition and awards
As of 2019 he was listed as the 45th richest person in China by Forbes, with a net worth of $6.5 billion. He has been called "China’s Warren Buffett".{{cite web|url=https://qz.com/570524/a-list-of-chinas-top-bankers-who-disappeared-were-detained-or-died-in-the-past-year/|title=China's top bankers who "disappeared," were detained, or died unnaturally in the past year|first1=Zheping|last1=Huang|website=Quartz|date=28 January 2016 |access-date=15 January 2019}}
In 2017 Guo was honored with the 16th Asia Business Leaders Awards’ Lifetime Achievement Award by CNBC.{{Cite web|url=https://www.cnbc.com/2017/09/27/cnbc-to-award-lifetime-achievement-award-to-fosun-internationals-guo-guangchang-at-16th-cnbc-asia-business-leaders-award-ceremony.html|title=CNBC gives Lifetime Achievement Award to Fosun International's Guo Guangchang|date=2017-09-28|website=CNBC|language=en|access-date=2019-12-30}} He received the 2016/17 “Nobel Laureates Series-Asian Chinese Leaders Award” by Asian College of Knowledge Management, and the “Lifetime Achievement Award” at the 8th World Chinese Economic Summit in 2016.{{Cite web|url=https://www.fosun.com/language/en/p/3411.html|title=Leadership: Guo Guangchang|website=Fosun|access-date=30 December 2019|archive-date=27 September 2019|archive-url=https://web.archive.org/web/20190927161203/https://www.fosun.com/language/en/p/3411.html|url-status=dead}}
References
External links
- [http://www.fosun-international.com Fosun International Limited]
- [https://web.archive.org/web/20030111112332/http://www.forbes.com/finance/lists/74/2002/LIR.jhtml?passListId=74&passYear=2002&passListType=Person&uniqueId=CYTD&datatype=Person "Guo Guangchang], "China Rich List", Forbes magazine, 2002
- [http://www.chinavitae.org/biography/Guo_Guangchang/bio Bio], ChinaVitae.com, retrieved December 11, 2007
- [https://archive.today/20130116013707/http://english.cri.cn/2600/2005-1-14/87@193134.htm Bio], China Radio International (CRIEnglish.com), January 13, 2005, retrieved December 12, 2007
{{DEFAULTSORT:Guo, Guangchang}}
Category:21st-century Chinese businesspeople
Category:Billionaires from Zhejiang
Category:Businesspeople from Zhejiang
Category:Chinese company founders
Category:Chinese philanthropists
Category:Chinese businesspeople in real estate
Category:Fosun International people
Category:Fudan University alumni
Category:People's Republic of China politicians from Zhejiang
Category:Politicians from Jinhua
Category:Members of the 12th Chinese People's Political Consultative Conference