1. Skip to content
  2. Skip to main menu
  3. Skip to more DW sites
In focus
German election 2025Middle East crisisRussia's war in Ukraine
Latest audioLatest videos
Live TV

China's 'Warren Buffet' Guo 're-emerges'

December 14, 2015

Chairman of Fosun Group Guo Guangchang returned to work after abruptly disappearing from the public eye days ago, Chinese media reported. Guo has been "assisting" the authorities with their inquires, his company said.

https://p.dw.com/p/1HMnc
China Guo Guangchang
Image: picture-alliance/dpa/M.A. Lopes

The billionaire spoke at a corporate event in Shanghai Monday morning, according to various media reports and pictures posted by the business magazine, Caijing.

Guo went missing on Thursday, with unconfirmed reports stating he was picked up by the police at Shanghai airport.

The next day, Guo's conglomerate Fuson Group said the chairman was "assisting in certain investigations" conducted by the Chinese authorities.

Other reports indicated that the businessman was questioned in connection with a corruption inquiry.

On Monday, the Caijing magazine reported that Guo "finalized" his assistance and "returned home safely."

The Fuson Group also resumed stock trading after suspending it on Friday.

War on corruption

The 48-year-old tycoon discussed the need for global expansion at the Monday meeting, according to the Chinese media. The reports cited no details on the investigation.

On Sunday, Wang Qunbin of Fosun International said the government inquiry was "mostly about [Guo's] personal affairs."

Guo is the 17th richest person in China, with a net worth of $5.7 billion (5.2 billion euro). His Fosun company is one of the biggest privately-owned corporations in the country.

Guo is also dubbed by the media as "China's Warren Buffet."

Several of China's top executives have temporarily gone missing this year, in the wake of Beijing's crackdown on its financial sector.

The anti-corruption drive launched by Chinese President Xi Jinping has also brought down many senior and lower-level Communist party officials.

dj/rc (AFP, AP, Reuters, dpa)