What a difference a decade makes.
China’s richest man, with a net worth of $14.2 billion. By 2015, that fortune would more than triple.has plummeted nearly $40 billion, thanks in part to a mountain of debt saddling his empire of malls, theaters, and real estate. The pandemic dealt him another crippling blow, as the Chinese government imposed severe restrictions on public gatherings.
, told The Daily Beast. And he added that the bleeding is likely to continue: “If he walks away with much of anything, he'll be very lucky.”Leonardo DiCaprio waves to fans during a red carpet event promoting Wanda Group's Oriental Movie Metropolis project in Qingdao.
In 2012, Wanda Group made a major splash in the American market, with a $2.6 billion deal to buy cinema giant AMC Entertainment. When combined with Wang’s Chinese assets, the acquisition made him the biggest theater owner in the world, the companyWang sought additional favor in the U.S.
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