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Business and Finance
Chinese and South African billionaires hook upPosted by Jeremy Goldkorn, November 11, 2006 11:59 AM
From The Financial Times:
Chinese billionaire takes stake in Anglo The Oppenheimer family and Anglo-American are have a complicated but intimate relationship with De Beers, a South African company that controls most of the world's legal diamond trade. Anglo American is listed on Johannesburg and London exchanges; it not easy to understand the complex shareholding arrangement of the family and those two companies. Chairman of De Beers and current head of the family's business, Nicky Oppenheimer is ranked together with his family at number 134 on the Forbes list of the world's richest people. His fortune is estimated to be USD 4.6 billion. Larry Yung (in Chinese Rong Zhijian — 荣智健) is the son of Rong Yiren (榮毅仁), a textile tycoon in pre-revolutionary China who became known as a 'red capitalist' because he stayed on after 1949, becoming vice president of the People's Republic. The Rongs did not fare well during the Cultural Revolution but were rehabilitated when Deng Xiaoping came to power. In 1979, Rong senior founded CITIC, the state-owned company that became China's first successful experiment with capitalism and international finance. Rong junior, usually known in English as Larry Yung, made his own fortune by leading CITIC Pacific's charge into Hong Kong's capital markets and beyond. Yung is listed at number 451 on Forbes' list of billionaires, with a fortune of USD 1.7 billion. Links and Sources
There are currently 1 Comments for Chinese and South African billionaires hook up.
Comments on Chinese and South African billionaires hook upIt is sad that so much money change hands,i have started a small bussines and battle to get R1,000,000-00 from banks in south africa.We have a brilliant project which is 90% complete which is only second to a similar project in Germany,and i beg every day just to get of my feet. |
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