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Chinese Billionaire Officially Buys Sunseeker Yachts

Posted: Jun. 21st, 2013  |  By DailyLuxe News

Photo: Sunseeker

The third richest man in China, Wang Jianlin, is officially the new owner of the British yacht builders, Sunseeker, CNN reports this week.  The acquisition became official this week, as Wang’s real estate and hotel conglomerate, theDalian Wanda Group, bought 92% of Sunseeker’s for $1.6 billion.

 Wang is hopeful to capitalize on the rising demand of China’s affluent consumers for luxury yachts. It has been a busy time for the Dalian Wanda Group, as it also announced its plans to spend around $1.1 billion to develop a five-star hotel and apartment complex in a prime London location overlooking the River Thames.

The ranks of China's super-rich are growing rapidly. The number of people with more than $30 million in assets grew by nearly 60% between 2007 and 2011, according to research from WealthInsight, boosting demand for luxury goods and high-end services.

 

Read More on money.cnn.com
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