Wang Sicong, China’s richest son not interested in managing his father’s $91b business empire

Wang Sicong, a businessman and an only son to the Chinese tycoon named Wang Jianlin, is not interested in taking over his father’s business empire. He wants a different life for himself.

Sicong (Right) takes a photo with his female fan.

Sicong’s father is the chairman of the Dalian Wanda Group, China’s largest real estate developer. Jianlin’s company is also the world’s largest movie theater operator.

For his bachelor status, the Chinese media always refer to him as “the people’s husband“.

However, the young man was widely criticized in 2015 after he told reporters during an interview that he “loves women with large breasts”. That was one criteria he gave as a requirement for any potential girlfriend.

An editorial in China’s state-run news outlet Xinhua blasted him for objectifying women. The article was titled: “Son of the rich, do not treat vulgarity as a personality,” picked on him for his sexist comments.

Sicong has “stained the purity of the Chinese…with the arrogance of Silvio Berlusconi,” the editorial mourns.

Nonetheless, the young man’s spending habits has always gained attention from the media. Earlier in March 2016, he was reported to have spent a whooping 2.5 million yuan in just one night at a karaoke bar.

Sicong is interested in building his own business, having established an e-gaming company named Invictus Gaming. He is the chairman of Prometheus Capital, a private equity company founded with 500 million RMB he received from his father. He’s also a director in his father’s company with a reported 2% stake.


wang sicong dog watch gold

He made headlines around the world when he purchased eight new iPhone 7s for his pet, a dog named Coco. His kindness, not pride, got people so emotional that many wished to be his dog for just a day.

Coco wears two gold Apple watches, too. One of the watches retails for $10,000 upwards.

As a social media celebrity, Jianlin’s son has over 20 million followers.

Image shows Sicong taking a selfie with his female fan.

Sicong’s father, Wang Jianlin spoke with reporters in Beijing on Sunday saying: “First, for the issue of the successor, as of now, I have asked my son. He has said that he isn’t willing to live the kind of life I live.

“Perhaps young people make their own choices, but I think there is still time to consider this issue.

“Our company professional managers also have a reserve team. It may be better to hand over to the professional managers.

“We have seen what they’re doing from the board level, and it is not a bad choice. We have many professional managers to choose from.

“We have five industry groups. Those are the future successors, of which only one can be chosen.

“We will not choose anyone deliberately, but shall see who that person is through competition.

“Deliberate cultivation would not necessarily be good; competition bringing someone forward is better.”