Guo Guangchang

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Name: Guo Guangchang

Country: China

Date of Birth: 1st January 1967

Education: BA, MBA

Type of Business: Investment firm 

Main Achievements: He is theChairman of Fosun International. Received 16th Asia Business Leaders Award, Lifetime Achievement Award, and Nobel Laureates Series-Asian Chinese Leaders Award. Was ranked 521st on Forbes’ World’s Richest People List. He is a representative of the 12th Chinese People’s Political Consultative Conference; he is also ranked 45 on the 2019China Rich List and was declared as the 50th richest person in China by Forbes.

Something interesting about the person: In 2015, Guo Guanchang was gone missing; he was released after ‘helping with a probe,’ which was inspired by US magnate Warren Buffett.

Biography:

Guo Guangchang, one of China’s wealthiest people, was born in Dongyang, China. He did not share much of his life details with the public. He showed a keen interest in philosophy and did his Bachelor’s in it from Fudan University. Later he completed his MBA from the same university. In 1992, Guo founded the first company in China to use scientific methods in market research named Guangxin Technology Development Company Ltd, along with two other people Liang Zinjun and Tan Jian. Later the company’s name was changed into Fosun International. The company was first incorporated in Hong Kong and had its main headquarter in Shanghai, China. Fosun Pharmaceutical Company was established in the year 1994. The company exclusively produced medicines for the cure of Hepatitis A, a disease that is frequently occurring in China. The three significant development motors of Fosun, industrial profits, investment profits, and asset management skyrocketed in the year 2011. In the coming years, the company invested billion dollars in buying foreign companies in the healthcare unit, fashion, and banking industries. All from counties such as the United States of America and also Europe. France’s Club Med and Britain’s Thomas Cook Group were a part of these. Everything was going perfectly fine until on 11th December 2015, Guo Guanchang was reportedly missing. During his disappearance, the company suspended all trades. Some reports stated that Guo had been held by police, some said he was assisting authorities with an investigation and had been linked to a corruption court case in August. Fosun’s board directors issued a statement that Guo was helping in a government inquiry, which poses no adverse impacts on Fosun’s finances. On 14th December, Guo was released and made his first public appearance at Fosun’s annual board of director’s meeting in Shanghai. The English football club Wolverhampton Wanderers was brought by Fosun in 2016 for an estimated amount of £45 million. During his ownership, Fosun’s Wolves made tremendous progress. They came seventh in the FA Premier League, reaching an FA Cup semi-final and qualifying for European competition all from only being a mid-table side in the Football League Championship. 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, and a member of the Standing Committee of All-China Youth Federation. He is also the vice-chairman of China Glory Society, China Social Entrepreneur Foundation, and Youth Business China Foundation. Because of being a chairman of the Fosun Foundation and earning billions, Guo is very interested in philanthropy. To fight poverty causes, improve the weak education areas, he donated six hundred million RMB to charity. During the current coronavirus pandemic, Fosun Pharmaceuticals partnered with Biopharmaceutical New Technologies, to work on coronavirus vaccine. Fosun, along with other Chinese, donated medical supplies to 23 countries during the coronavirus outbreak. Fosun also donated medical supplies to Milan and Italy. The current net worth of Guo Guangchang is 5.2 billion dollars. 

Links:

https://www.bloomberg.com/profile/person/4072928

http://www.chinavitae.com/biography/Guo_Guangchang

https://successstory.com/people/guo-guangchang