Chen Tianqiao Explained

Chen Tianqiao
Native Name:陈天桥
Birth Place:Xinchang County, Zhejiang, China
Occupation:Co-founder of Shanda Group and Tianqiao and Chrissy Chen Institute
Organization:Member of the 11th and 12th National Committees of the Chinese People's Political Consultative Conference
Alma Mater:Fudan University
Party:Chinese Communist Party
Spouse:Chrissy Luo

Chen Tianqiao ; born 1973) is a Chinese businessman who co-founded the Tianqiao and Chrissy Chen Institute in 2016.[1] [2] [3] [4] [5] [6] His net worth is an estimated .

Early life and education

Chen was born in Xinchang County, Zhejiang Province, China in 1973 and grew up near Shanghai with his younger brother Danian. His father was an engineer and his mother was a middle school English teacher. He earned his bachelor's degree in economics from Fudan University in 1993.

Career

Chen started at the state-owned property developer Shanghai Lujiazui Group in 1994, holding management positions in the public relations office before becoming secretary to the chairman. In 1998, he became the vice director of the office of the president at Kinghing Trust & Investment before resigning in 1999.

In 1999, Chen started the online gaming company Shanda with members of his family. The company went on to become the largest Internet company by market capitalization in China in 2004.[7] That same year, Chen was second on the Hurun Report's "rich list",[8] was voted China Central Television's "Rising Business Star",[9] and was featured in MIT Technology Reviews Innovators Under 35 list.[10]

Shanda Group went private in early 2012, with Chen, his wife, and his brother keeping a combined 57% stake.[6] In 2015, Chen, as the beneficial owner of Shanda Asset Management, acquired over 80,127 hectares of land in Oregon from Fidelity National Financial for US$85 million, making him one of the largest foreign owners of land in the United States.[11] [12]

Tianqiao Chen and his family sold all their stakes in Shanda Games in November 2014, after which Shanda Group refocused on investing.

With Chen remaining chairman and CEO, by early 2017 Shanda Group was the majority shareholder of Legg Mason, Lending Club, and Community Health Systems.[13] [14] It also had property operations in China and North America and stakes in companies such as Sotheby's. Shanda sold its stakes in Sotheby's in 2017 and then it sold its stake Legg Mason later that year, and then Chen resigned as vice-chairman of the Legg Mason board.[4] Chen has invested in the venture funds Propel(x) and Ubiquity Ventures.[15]

Ranked on various rich lists,[16] [17] Chen personally had $4 billion in net value in 2017 and was ranked as the 93rd richest person in China, according to the Hurun Report.[18] [19]

In 2018, Chen purchased 500,000 acres in Ontario.[20] The same year, the Committee of 100 gave Chen an award for Lifetime Achievement as Tech Entrepreneur.[21]

Politics

According to China Youth Daily, Chen joined the Chinese Communist Party at age 18 and was elected to the central committee of Communist Youth League of China in Shanghai.[22] In 2008, Chen was appointed to the 11th National Committee of the Chinese People's Political Consultative Conference (CPPCC).[23] [24] In 2013, Chen was appointed to the 12th National Committee of the CPPCC.[25] [26]

Boards

Chen is chairman of the Shanda Group,[5] and is also on the boards of various portfolio companies.[4] [27]

Personal life

Chen is married to Qianqian "Chrissy" Luo.[6] They moved from Shanghai to Singapore in 2009, then from Singapore to the Bay Area of California in late 2017.[28] They are currently residents of Menlo Park, California.[29] Chen bought in 2018 for $39 million a historic mansion built for Alice Gwynne Vanderbilt in 1881 on East 69th Street in the Upper East Side of Manhattan.[30] [31]

Notes and References

  1. News: Missing China mogul reappears in Singapore with US$1 billion for brain research. 16 August 2017. Today. 14 January 2024. https://web.archive.org/web/20240114122948/https://www.todayonline.com/business/missing-china-mogul-reappears-singapore-us1-billion-brain-research. live.
  2. News: Shanda gaming co-founder buys GCB for $23 million . Kalpana . Rashiwala . The Business Times . Jan 20, 2017 . July 20, 2017 . January 14, 2024 . https://web.archive.org/web/20240114123057/https://www.asiaone.com/business/shanda-gaming-co-founder-buys-gcb-23-million . live .
  3. News: Chinese billionaire with ambitions to reshape investment models . live . https://web.archive.org/web/20240114114907/https://www.ft.com/content/750d8a0e-c0e6-11e6-9bca-2b93a6856354 . 2024-01-14 . 2017-02-08 . Financial Times. (published 12-26-2016)
  4. Web site: Billionaire's gamble on distressed US firm reflects growing confidence of Chinese investors . . 25 January 2018 . 27 May 2019 . 14 January 2024 . https://web.archive.org/web/20240114114910/https://www.scmp.com/news/china/money-wealth/article/2130455/chinese-investor-who-gaining-decision-making-power-us . live . (published 01-25-20)
  5. News: Chinese Donors Step Up Giving to American Universities . . 2019-05-27 . 2019-05-27 . https://web.archive.org/web/20190527010000/https://www.chronicle.com/article/Chinese-Donors-Step-Up-Giving/238736 . live . (published 12-21-20)
  6. Web site: House of Flying Fingers . . 2019-05-27 . 2024-01-14 . https://web.archive.org/web/20240114115018/https://www.forbes.com/global/2005/0523/020.html#14c75e5410f4 . live . (published 05-23-20)
  7. News: Chinese donors fund studies into acceptance of death . . 2019-05-27 . 2024-01-14 . https://web.archive.org/web/20240114114908/https://www.ft.com/content/8c6eb4ba-bb65-11e6-8b45-b8b81dd5d080 . live . (published 12-06-20)
  8. Web site: If I was a lowly official they would be proud . . 8 November 2004 . 27 May 2019 . 14 January 2024 . https://web.archive.org/web/20240114114946/https://www.theguardian.com/world/2004/nov/08/china.emmabrockes . live . (published 11-08-20)
  9. Web site: Chen Tianqiao: the billionaire funding brain research . . 8 September 2017 . 27 May 2019 . 14 January 2024 . https://web.archive.org/web/20240114114947/https://moneyweek.com/472473/chen-tianqiao-the-billionaire-funding-brain-research . live . (published 09-09-20)
  10. The Complete TR100 . . 2019-05-27 . 2024-01-14 . https://web.archive.org/web/20240114114909/https://www.technologyreview.com/2004/10/01/232325/the-complete-tr100/ . live . (published 10-01-20)
  11. News: Pendleton . Devon . January 8, 2024 . Chinese Billionaire Is Second-Biggest Foreign Owner of US Land . 12 January 2024 . . 2024-01-14 . https://web.archive.org/web/20240114122951/https://www.bloomberg.com/news/articles/2024-01-08/chinese-billionaire-named-as-one-of-america-s-biggest-landowners . live .
  12. Web site: O'Keefe . Eric . 2024-01-08 . Tianqiao Chen Joins Land Report 100 with 198,000 Acres . 2024-01-13 . . en-US . 2024-01-12 . https://web.archive.org/web/20240112235106/https://landreport.com/chinese-billionaire-tianqiao-chen-joins-land-report-100 . live .
  13. Web site: Billionaire's gamble on distressed US firm reflects growing confidence of Chinese investors . South China Morning Press . 25 January 2018 . 27 May 2019 . 14 January 2024 . https://web.archive.org/web/20240114114910/https://www.scmp.com/news/china/money-wealth/article/2130455/chinese-investor-who-gaining-decision-making-power-us . live . (published 01-25-2018)
  14. Web site: Barkholz, D. Chen's 22% CHS stake carries clout – with or without a board seat. Modern Healthcare . Modern Healthcare . 17 August 2017 . (published 08-17-2017)
  15. https://www.barrons.com/articles/unlocking-the-mysteries-of-the-brain-01564765962 Barron's
  16. The World's Billionaires: #828 Chen Tianqiao . . 3 October 2010 . 24 June 2010 . 14 January 2024 . https://web.archive.org/web/20240114115558/https://www.forbes.com/lists/list-directory/#46c422b2b274 . live .
  17. China's Richest: #10 Chen Tianqiao . . 24 June 2011 . 14 January 2024 . https://web.archive.org/web/20240114115510/https://www.forbes.com/lists/list-directory/#ec3657bb274d . live . (2005)
  18. Web site: Hurun Report Releases China Rich List 2017 in Association with 36G . . 2018-12-14 . 2018-12-14 . https://web.archive.org/web/20181214214025/http://www.hurun.net/EN/Article/Details?num=5A320E03FD31 . live . (published 10-12-2018)
  19. Web site: Hurun Report Global Rich List 2014 . . 2014-08-21 . https://web.archive.org/web/20140831225147/http://hurun.net/EN/HuList.aspx?nid=1 . 2014-08-31 . dead . (published 2014)
  20. Web site: Baumhardt . Alex . January 21, 2024 . Chinese billionaire owns hundreds of thousands of acres of Oregon timberland, report reveals . 2024-01-22 . . en . 2024-01-22 . https://web.archive.org/web/20240122014149/https://www.opb.org/article/2024/01/21/tianqiao-chen-oregon-land-acquisition/ . live .
  21. Web site: Committee of 100 honors leaders who advanced U.S.-China relations . Asian American Press . 2019-05-27 . 2019-05-27 . https://web.archive.org/web/20190527004047/http://aapress.com/community/committee-of-100-honors-leaders-who-advanced-u-s-china-relations/ . dead . (published 06-03-20)
  22. Web site: 13 November 2007 . 从团干部到企业家有多远 . How far is it from a league cadre to an entrepreneur? . https://web.archive.org/web/20071114132337/http://zqb.cyol.com/content/2007-11/13/content_1952886.htm . 14 November 2007 . 2024-01-13 . . zh.
  23. Web site: February 27, 2008 . 十一届全国政协委员职务和界别情况（7） . Positions and sectors of members of the 11th CPPCC National Committee . https://web.archive.org/web/20080303161406/https://www.gov.cn/rsrm/2008-02/27/content_902564.htm . 3 March 2008 . 2024-01-12 . . zh.
  24. Web site: 3 March 2009 . 第十一届全国政协委员名单 . List of members of the 11th National Committee of the Chinese People's Political Consultative Conference . dead . https://web.archive.org/web/20130928014403/http://www.indaa.com.cn/zt/2009qglh/zxzs/200903/t20090303_127573.html . 28 September 2013 . . zh.
  25. Web site: June 26, 2014 . 中国人民政治协商会议第十二届全国委员会委员名单 . List of members of the 12th National Committee of the Chinese People's Political Consultative Conference . https://web.archive.org/web/20170923084629/http://politics.people.com.cn/n/2014/0626/c351134-25204026.html . 2017-09-23 . 2024-01-12 . . zh.
  26. Web site: February 26, 2014 . 中国人民政治协商会议第十二届全国委员会委员名单 . List of members of the 12th National Committee of the Chinese People's Political Consultative Conference . 2024-01-12 . . zh . 2018-01-06 . https://web.archive.org/web/20180106232120/http://www.cppcc.gov.cn/zxww/2014/02/27/ARTI1393487184783942.shtml . live .
  27. News: BRIEF-Legg Mason appoints Tianqiao Chen and Robert Chiu to its board . . 2017-02-08 . 2017-08-18 . https://web.archive.org/web/20170818090046/http://in.reuters.com/article/idINASB0AXRW . live . (published 01-31-2017)
  28. Web site: With A New Gift, Chinese Games Billionaire Takes Step To Treat Brain Diseases . live . https://web.archive.org/web/20200925051352/https://www.forbes.com/sites/kerryadolan/2017/11/02/with-a-new-gift-chinese-gaming-billionaire-takes-step-to-treat-brain-diseases/#4d18857b42e8 . 2020-09-25 . 2018-12-14 . Forbes. (published 11-02-2017)
  29. News: A Chinese Billionaire Is Using His Fortune to Unlock the Human Brain . . 21 August 2018 . 2019-05-27 . 2024-01-14 . https://web.archive.org/web/20240114121050/https://www.bloomberg.com/news/articles/2018-08-21/chinese-investor-devotes-fortune-to-unlock-the-human-brain-q-a . live . (published 12-21-2018)
  30. News: A Surge of High-Priced Closings, Including a Sale by Harvey Weinstein . . 29 March 2018 . Marino . Vivian . 27 May 2019 . 9 November 2020 . https://web.archive.org/web/20201109013142/https://www.nytimes.com/2018/03/29/realestate/a-surge-of-high-priced-closings-including-a-sale-by-harvey-weinstein.html . live . (published 03-29-20)
  31. News: Online Gaming Billionaire Buys New York City 'Vanderbilt Mansion' For $39 Million . 2020-10-26 . 2024-01-14 . https://web.archive.org/web/20240114121112/https://www.mansionglobal.com/amp/articles/online-gaming-billionaire-buys-new-york-city-vanderbilt-mansion-for-39-million-91528 . live . (published 03-15-18)

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