Wang Jianlin, China's richest man wants to make Dalian Wang a worldwide brand

China's richest man believes in spending money to make money.

He is snapping up major American and European companies in hopes of building a global brand for his business.

As Hollywood looks East to a massive potential new audience, China itself is gearing up to get its own slice of the action.

A star-studded red carpet event held last year for the launch of a planned $5 billion dollar studio complex in the city of Qingdao.

Bankrolled by Wang Jianlin, China's richest man and founder of the country's biggest commercial property developer Dalian Wanda.

Both the company and Wang are household names in China, but now he wants to go global.

"Our goal is the make Wanda a brand like Wal-mart or IBM or Google. A brand known by everyone in the world. A brand from china," said Wang.

Its an ambition apparently matched by spending power.

Earnings at Wanda last year hit $30 billion, the goal is to hit $100 billion by 2020.

And Wang says the profits generated from property are his springboard to the world, "The real estate industry has given us the opportunity to accumulate capital. We have decided if there are opportunities in culture, or entertainment as you would call it, retail and luxury hotel management, we will not hesitate in purchasing them."

So far Wang has made two international acquisitions.

In 2012 he bought the biggest movie house chain in the world, the U.S.-based AMC for $2.6 billion.

Wang followed up last year with a modest $500 million purchase of British luxury boatmaker Sunseeker.

Tourism is also a target. Wanda has been buying property in Europe and the U.S. with an eye to developing five-star hotels.
In Wang's grand plan, by 2020 Wanda's overseas businesses will be earning about a third of that $100 billion turnover.


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