The son of a Chinese billionaire has been banned from flying first class, playing golf, buying property, or going clubbing
Added 11-12-19 03:14:02am EST - “Wang Sicong, the heir of Chinese real estate mogul Wang Jianlin's estimated $12.5 billion fortune, is said to have a personal debt of $21.6 million.” - Businessinsider.com
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Posted By TheNewsCommenter: From Businessinsider.com: “The son of a Chinese billionaire has been banned from flying first class, playing golf, buying property, or going clubbing”. Below is an excerpt from the article.
Wang Sicong, the only son of Chinese real estate mogul Wang Jianlin and the heir to his estimated $12.5 billion fortune, has been banned from doing stereotypical billionaire heir activities: traveling and partying.
According to The South China Morning Post, Wang was banned from these luxuries last month via a court order after his e-sports company Shanghai Panda Entertainment Co lost a lawsuit in Shanghai Jiading District Court.
News of the court order resurfaced in local media on Monday after a separate court case said the 31-year-old owed a personal debt of about 151 million yuan ($21.6 million).
According to The Post, the Shanghai ruling prevents Wang from traveling first class, buying property, staying in luxury hotels, going on vacations, playing golf, or visiting nightclubs. These restrictions may be lifted by the court if it appears to infringe on his legitimate business ventures, The Post added.
The Millennial heir is commonly referred to as "China's most eligible bachelor" and often flaunts his wealth by throwing lavish star-studded parties, and buying expensive tech gadgets — including eight iPhones — for his dog, Coco.
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