Guo Guangchang

Guo Guangchang 郭广昌
Born	February 1967 (age 57) Dongyang, Zhejiang, China
Alma mater	Fudan University
Occupation	Founder & Chairman Fosun International Limited
Net worth	$7.3 billion (Nov 2015)
Spouse(s)	Wang Jinyuan
Children	3

Guo Guangchang (simplified Chinese: 郭广昌; traditional Chinese: 郭廣昌, born February 1967) is a Chinese billionaire business magnate and investor. He is the chairman of Fosun International Limited and a representative of the 12th Chinese People's Political Consultative Conference. According to Hurun Report's 2013 China Rich List he was the 41st richest person in China. As of 2015 he was listed as the 34th richest person in China by Forbes, with a net worth of $7.3 billion.

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.

Career

In 1992, Guo founded Guangxin Technology Development Company Ltd, which was among the first to use scientific methods in market research in mainland China. 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.

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.

In 2007, Fosun International (00656.HK), the holding company of Fosun, was listed on the HKSE. Fosun has teamed up with IFC in reinsurance business, invested in Club Med of France, insurance company Fidelidade Seguros of Portugal and Folli Follie of Greece to jointly explore opportunities brought by the growth of China's economy.

At the 2010 Shanghai World Expo, Guo, together with 15 other Chinese entrepreneurs, funded the Chinese Private Enterprise Pavilion, which was the debut of China's non-state-owned enterprises in World Expo.

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. 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".

Wealth

As of 2015 he was listed as the 34th richest person in China by Forbes, with a net worth of $7.3 billion.

Philanthropy

Guo is the vice chairperson of China Glory Society, China Social Entrepreneur Foundation and Youth Business China Foundation. Fosun has donated an aggregate of up to 600 million RMB to charity causes to help fight poverty, improve access to education and provide natural disaster relief.

External links

• Fosun International Limited
• "Guo Guangchang, "China Rich List, Forbes magazine, 2002
• Bio, ChinaVitae.com, retrieved December 11, 2007
• Bio, China Radio International (CRIEnglish.com), January 13, 2005, retrieved December 12, 2007