The wealthiest man in China is looking for an heir to his $122 billion empire after his son told him he does not want to live a life like that.
Wang Jianlin, founder and chairman of Dalian Wanda Group, said his only son, 28-year-old Wang Sicong, doesn’t want to take over his shopping centres, hotels, theme parks and sports clubs.
‘I have asked my son about the succession plan, and he said he does not want to live a life like mine,‘ Wang, 62, told an entrepreneurs summit over the weekend.
The transcript of the speech published on the Wanda group website was translated from Chinese by South China Morning Post.
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Wang Sicong is a director at his father’s empire, with a 2 per cent stake, South China Morning Post reported.