Reportedly last seen carried away by the strong hand of the law in a Shanghai airport, 48 year-old billionaire Guo Guangchang has seemingly disappeared. It is unclear if Guo is being detained, but he has been unreachable since Sunday, as his phone has been shut off.
Guo is the chairman of Fosun, one of the largest private investment firms in China. He has a net worth of $7 billion and is the 11th richest man in the country, according to Forbes. He’s the same guy that bought the One Chase Manhattan Plaza skyscraper in 2013 for a cool $725 million.
Earlier this year, a Shanghai court filing alleges Guo had inappropriate connections to Wang Zongnan, the former chairman of a state-owned enterprise who is now imprisoned for the misuse of 195 million yuan, reports Caixin.
Since 2013, Guo has repeatedly fought against accusations that he is being investigated for corruption.
In an e-mail provided by Reuters, Fosun claims: “[We] never sought to inappropriately benefit from cooperation with [Wang’s] Friendship Group and never delivered benefits to Wang Zongnan.”
In a text message, Fosun says they are “handling the situation.” In the meantime, the company has halted trading in shares of its listed units, just in case.
Of course, it is certainly possible that Guo simply hurt his back while swimming, but it is starting to seem likely that the man known as “China’s Warren Buffett” may be the latest victim in Chinese President Xi Jinping’s never-ending fight against corruption.
By Mary DeMay