Baidu’s Li dis­places Wang as China’s rich­est man

China Daily (Canada) - - NEWSCAPSULE -

The rich­est Chi­nese man is Robin Li, founder of China’s largest search en­gine, Baidu Inc, who dis­places prop­erty ty­coon Wang Jian­lin on the Bloomberg Bil­lion­aire In­dex.

It hap­pened 14 days af­ter Li grabbed sec­ond place in the in­dex. Li’s net worth has in­creased by 65 per­cent, or $4.8 bil­lion, to reach $12.23 bil­lion so far this year as Baidu’s shares ral­lied. Mean­while, Wang, chair­man and pres­i­dent of Dalian Wanda Group Corp Ltd, has seen his for­tune climb by $2.9 bil­lion to $12.16 bil­lion this year.

The prol i ferat i on of smart­phones and tablets, com­bined with Baidu’s prom­i­nent po­si­tion in the desk­top search mar­ket, has boosted its share price by 69 per­cent over the past six months. (Photo 3)

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