Son of China’s richest man with a fortune of $122 billion refuses to take his fathers throne


There are some who take an entire lifetime to become billionaires. And then there are others who are offered a $122 billion fortune on their plate to throw it away instead! That’s the story of Wang Sicong, the only son to the wealthiest business tycoon in China, who recently turned down the offer to inherit his father flourishing $122 billion business.

Wang Jianlin, founder and Chairman of Dalian Wanda Group, wished to hand over the reins to his billion-dollar empire (including shopping centers, hotels, theme parks and sports clubs) to his only son. However, the 28-year-old lad declined the offer stating that he does not want to live a life similar to that of his entrepreneur dad. Jianlin then announced that he will defer the control to a professional manager and oversee the work as part of the board. The company is screening a number of candidates for this post and will ultimately choose the best man and train him to become a successful business leader.

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While Sicong may have shown disinterest in running the family business, he certainly has his entrepreneurial streak in place. After schooling in Britain and studying philosophy at the University College of London, Sicong founded Prometheus Capital in 2011 and has made investments in Invictus Gaming, Dining Concepts Holdings. He is also a social media icon with over 21 million followers on Weibo, with a separate account for his dog on the portal. Although he has rejected his father’s proposal, Sicong will continue to own directorship in his business.

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[Via:Gossipmill]