China's richest man invests in million-dollar australian hotel
China's wealthiest man has invested in a million-dollar Australian hotel project. Wang Jianlin, who is worth approximately $17.1 billion, topped the Forbes@ China Rich List last year. Now, he is planning to put some of that wealth into his company Wanda Group's new resort Down Under.
The company currently has 51 five star hotels around the world, along with a large commercial portfolio of department stores and malls. The latest, The Jewel, is a $970 million development and will be the first five-star hotel on the beach front of the Gold Coast's Surfer's Paradise area. Wanda Group's plan is to expand to have 15 hotels in 15 cities.