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Billionaire’s Detention Rocks His Chinese Real Estate Empire

  • Future Land says Wang Zhenhua detained for ‘personal reasons’
  • Developer’s shares and bonds sink, spurring carve up talk
Bloomberg business news
Billionaire’s Detention Highlights Key Man Risk in China
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Chinese billionaire Wang Zhenhua was detained by Shanghai police, triggering an investor exodus from his real estate empire that erased more than $4 billion of market value, sent his companies’ dollar bonds tumbling and fueled speculation that rival developers might try to pounce.