MISSING TYCOON LAST SEEN BEING TAKEN BY POLICE
One of China’s richest men and best- known entrepreneurs has been reported missing, forcing the suspension of trading in his company’s shares and sending shivers through the stock market on Friday.
Fo sun International, which owns Club Mediterranee as well as the Chase Manhattan building in New York, said it had been unable to contact its chairman Guo Guangchang since midday on Thursday, according to the financial magazine Caixin.
The magazine cited social media messages that Guo was last seen being taken away by police at an airport in Shanghai.
Guo’ s disappearance comes in the midst of a farreaching crackdown on corruption launched by President Xi Jinping, which has caught up many top Chinese executives, mostly f rom state- owned companies but also from the private sector.
Many have been held for questioning for weeks without any public announcements.
Guo, 48, has a net worth of US$ 7.8 billion, according to the Hurun Report, which tracks China’s wealthiest people.