Hidden Chinese Billionaire Cruises to Yacht Clubs

April 26 (Bloomberg) -- Billionaire Wang Dafu has made his fortune building apartment complexes and hotel resorts in China’s Hainan and Guangdong provinces. Now he's betting on yacht clubs amid a rise in affluent Chinese embracing Western sailing culture. Wang, the chairman of property developer Visun Group, has a net worth of at least $1.2 billion, according to the Bloomberg Billionaires Index. Wang has never appeared on an international wealth ranking as a billionaire. Bloomberg's Matthew G. Miller reports. (Source: Bloomberg)

Decision to Freeze Fund Has Been Vindicated: Richards
17:03 - M&G Investments will reopen its £4.5 billion property fund on November 4, Chief Executive Officer Anne Richards tells Francine Lacqua on "Bloomberg Surveillance." Funds investing in commercial property, including Standard Life Investments and a number of others, declared it had suspended U.K. Real Estate funds as people tried to get their money back following the Brexit vote. Several funds had shut the door to prevent unnerved customers forcing fire sales of offices, shopping malls and warehouses.
  • Davide Serra: Brexit to Help Europe Focus, Find a Model
  • Ericsson's Frykhammar: Company Is Not for Sale
  • Serra: China Not Going to Be 'Financial Armageddon'