Friday, November 6, 2015

   Youngest Billionaire: Wang Han breaks Guinness World Records record (VIDEO)

   BEIJING, China -- Wang Han has a net worth of $1.3 billion according to the Bloomberg Billionaires Index; the 27-year-old inherited 27 percent of Shanghai-based Juneyao Airlines Co. from his father, who died in 2004; he also controls 14 percent of department store operator Wuxi Commercial Mansion Grand Orient Co., giving him a $1.3 billion fortune, thus setting the new world record for being the Youngest Billionaire, according to the World Record Academy.

  Photo: Wang Han debuted as the youngest billionaire on the 2015 Forbes China Rich List after an IPO in May by Juneyao Airlines, the China carrier led by his family. Photo: Reuters (enlarge photo)

  The Guinness World Records' record for the richest person is William H Gates III (aka Bill Gates, USA), with a fortune of $79.2 billion (£51.9 billion), according to the World's Billionaires 2015 list released by Forbes.

  Guinness World Records also recognized the world record for the oldest living US dollar billionaire; it is John Simplot (USA, b.4 January 1909), who had a net worth valued at $3.2 billion (£1.6 billion) when listed on Forbes.com on 8 March 2007, aged 98 years 63 days. Mr Simplot of Boise, Idaho, USA, self-made his fortune in the agricultural business, most notably in potato products.

    Wang Han debuted as the youngest billionaire on the 2015 Forbes China Rich List after an IPO in May by Juneyao Airlines, the China carrier led by his family.

   Wang inherited a stake in the company after the death of his father in 2004. He also has a stake in Wuxi Commercial Mansion Grand Orient, a department store.

   Photo: Airbus A320 of Juneyao Airlines.
(enlarge photo)
   
   Aviation billionaires are rare in China due to the low returns on economy seats, making it difficult to turn a profit in the ultra competitive global airlines industry.

    Juneyao Air's jump gave the carrier a market capitalization of 26.1 billion yuan ($4.2 billion), making it more valuable than Air Canada and Air France-KLM.

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