Socialist China's Billionaire Playboys

the Formula One circuit in Shanghai was built to host the world's best drivers if the Chinese Grand Prix but visits any other weekend of the year and you're less likely to find the world's fastest men and China's richest the most exclusive car club in the country has rented the track once again the sports car club now has over 1,000 members according to the club president there are very strict conditions for membership even for the wealthiest of businessman sweetie the rugged gold reserve r2d2 are the minimum requirement for membership is a post-911 or innocent GTR a 2-door sports car that accelerates from zero to 150 0.5 seconds each you you're ten Damiano yet this condition reveals a second less openly discussed requirement for membership large personal wealth in addition to the cars a weekend at the Formula One race track costs at least ten thousand euros the members gathered today comprise a second generation of privilege they are the children of new millionaires for whom expensive hobbies are no longer out of reach for these two young men the expense is not a problem leech out and zhang gichan have traveled from beijing they are entrepreneurs and car enthusiasts their annual budget for the hobby is up to five hundred thousand euros Georgia law maker and a doctor though everyone has their own idea of a sports car the Porsche 911 is very popular in Europe of course a Ferrari is very good and expensive I could just as easily afford one of those but I like my Porsche 911 because the engine sits in the back and the turbo goes properly he isn't exaggerating in fact on this point he is impressively convincing mr. Zhang paid around 200,000 euros for his Porsche he also owns a BMW and an Audi and these are just his race cars used only for this hobby entertainment for the almost exclusively male clientele is provided for all car club events luxury European car manufacturers are guaranteed to appear represented by their finest hostesses and the rich petrol heads are quickly acquiring a taste for it he rotators our past weekend is like a meeting of friends fliora one year the race is just a warm-up for anyone to meet friends here you can also do cab business be fast I reckon I'm menthol or shut no good following the end of the racing the evenings parties announced over the PA unfortunately cameras are definitely not allowed mr. Lee returns to his hometown Beijing a couple of days later where he is staying in the center he also owns a villa in the suburbs Lee was educated at a British university his degree in business management funded by his family he is wealthy though exactly how wealthy he is reluctant to reveal bleach I'll made his fortune through the distribution and sale of milk powder which he imported from Europe his business transformed into a gold mine in 2008 when a huge scandal erupted in China milk powder manufactured domestically was found to be contaminated with melamine causing illness in hundreds of thousands of infants the public's confidence in milk powder manufactured in China was thoroughly shaken and now those who can afford to buy imported milk the cows milk gender be a lot has changed I started the business seven years ago there was not a lot of money tens of thousands of euros perhaps not in that today I put away a good 25 million euros a year and I hope there is a great deal more to be made that should be like that if I don't get horrific on that why does she run on every line nobody got something's what a comeback Lee Chow is a reflection of Chinese society today only one thing counts money and success she rewards rather calm going over I could never have enough money or money helps me fulfill my dreams younger a bomb that can afford my hobbies such as motor sports our the long jump this is not total and therefore I need a lot of money as easily as possible or tiny bad referrer China's new rich spend their money well for evidence you need look no further than the luxury fares constantly running across the country by 2015 China will replace Japan is the largest single market for luxury goods by then Chinese spending on luxury items is estimated to reach more than 20 billion euros per year according to consulting firm McKinsey don't what are the potential luxury goods market in China is huge there are 1.3 billion shining in your uniform anyone out of tell originally would have 130 million potential customers high that the outlook is fantastic we don't know that she'll be get all cherish around a leader traditional British sports car manufacturer Morgan is represented in China for the first time at this trade show they're hoping the new Chinese appetite for luxury goods results in good business the China auto market is perhaps another story it's now the largest market in the world surpassed the American market and and the appetite for unique cars that have this great combination of heritage but modern performance we think should really the sweet spot with the Chinese consumers that are now looking for something that's a little bit distinctive the trends are convincing the number of Chinese millionaires is increasing rapidly as are the ranks of the super-rich only the United States is home to more dollar billionaires than China Wang defu manages approximately the five hundredth richest firm in China and his personal fortune is estimated at half a billion euros wang was born into a poor family it's a story that's fast becoming the Chinese dream taking him less than 15 years to become the undisputed properties are on the resource island of Hainan certainly not the kind of project he'd have been expected to achieve as a young boy the island is a two-hour flight south of Shanghai and is considered by many Chinese people to be the epitome of a tropical paradise a resort no longer only for the rich but increasingly the China's middle class a la campagne 500 euros to come immediately understood why this place is so popular we just want to enjoy ourselves alive our vision our box just twenty years ago these were empty beaches now tourism is worth billions enough to lure even more investors here your son your you are you here we have mountains the sea rivers stingapede horny young in addition bounty door there is a good infrastructure tell me it Haley that's everything you need in a high school but mostly it's a real estate market it is evolving very fast so what mr. clean your sure that you have what it takes to make this place a world-famous world-class tourism destination your gold on board yeah Singh be these men are among the richest in southern China Wang the food has been invited for a weekend to Hainan by a man who deals exclusively in toys for the rich get you the one thank you site a three bar what am I – those were 280 billion dollar recruit on particular she's reading a passage Aventine positive about you're all included result of a pause well yeah okay yeah mind defuse yachts manufactured in the West was made strictly to order it's his belief that sailing and cruising will boost luxury tourism in high night so he has invested in both your titty milk I met him in Hoover you didn't ago it out Dan Dakini with me I'm happy see ya mr. Wong the layout is according to your needs I also lied about having an apple tree wait how's Alicia we're known as little if I had chicken wings do you not want to eat them all at once it's a Nathaniel garlic I was so valuable I would wrap them again and again gang out also with Assad yeah though you and I started my wife did you I could then sometimes affordably alchemy and a bowl of England's so high like they want my little that's was a luxury for us and we were happy a counselor that gone that's okay today I'm idle a I've earned twenty year as a month-long Holly min I have worked as a day laborer in fact to stay gorgeous up I became an agent hour I sold oh yeah fertilizer and clio you're like I really have done many things I got food on the end see the saw lurking Dora modesty is not weighing the food thing he is proud of his success and his personal wealth right now that includes hotels supermarkets marinas and entire neighborhoods in Hainan and there are many investors trying to copy him real estate is a popular investment opportunity one of the reasons for this is the difficulty of moving capital overseas but now the Chinese millionaires have discovered the international art market which they flooded with approximately 14 billion euros in terms of money spent at auction houses China is already way ahead of the US at number one in the world it's just over a third of global sales out of the Chinese market this is China Guardian auctions one of the largest art auction houses in mainland China last year alone it made more than 1.3 billion euros in revenue thousands of art objects are displayed ahead of each individual auction anyone planning to bid must first deposit 20,000 euros small change for most of the people sitting in the auction room the prices for the artworks throws us an impressive rate shooting up as the seconds tick by often the buyers are not here in person preferring to remain anonymous and give instruction by phone mmm the US sir your chela China's art market is booming father because of lots of money as in circulations of it I don't know people need investment opportunities and that they need ways to invest their money who care what I see over there are real estate stocks so back and even works of art side puzzle there you gotta find this has propelled the price of art in China avatar you say that I don't usually invested aquapark yeah legal Chang is one of the most famous art collectors among China's multimillionaires his personal fortune is estimated at around 450 million euros and his office is decorated with oil paintings by contemporary Chinese artists not without pride he says that for this piece alone he paid almost 1 million euros many years ago how about y hoy did she like you you're here Sofia I see hi usual some people love it you can type all the usual pedelec others just want to earn their money and do nothing about it hurrah how would you do it they are pure investors so it hasn't won yet I would call them speculators del Ponte did aren't you sure a pleasure daughter mr. Li refuses to give precise details of how he came about his great fortune his company certainly operates in the forestry business investing in real estate and buying up companies the richest man in China Zhang Qing how is a modest man and has hardly any hobbies except smoking cigarettes mr. Zhang started out at 20 euros a day according to him that was all he needed his fortune is estimated to be equivalent to approximately 10 billion euros yo-chan when I was little there was something to eat only once a day that could then be shattered I'm used to being through the party I did you leadership when I give nothing so that's a luxury no matter how much money you have a birthday there is a limit how much you can spend it and how much you can eat here do you thought that the money ultimately belongs to society at you Debra did it so I invest incessantly operated constantly creating new jobs and paying taxes to the state the wha-ha-ha group has become one of China's most successful brands it includes 160 companies in 60 locations across the country and employs some 30,000 people it's core business is the manufacture and sale of the most popular soft drinks in China a market in which were haha products have a share of 60% you guys sitting in yamir do you have not succumbed to the usual temptations anyway I got fired it's time to quickly make money in real estate or investments the billion sir where me I'm still a classic industrialist are you this is healthy and stable is out there digester Goodell will pull a museum on the premises tells the family history Jean King how presents himself as an entrepreneur with heart a man of the people with a sense of social responsibility a showcase for a particularly Chinese brand of capitalism exactly is the Communist Party envisage mr. song is a party member and well-connected China's Supreme Leader's past present and future a personal friends for Zhan to be a capitalist and communist party member simultaneously it's not a contradiction okay I guess so a third yeah I didn't become a member until after I was rich and successful yeah that got today a party encouraged private entrepreneurs to join unlike before it progress now comes from entrepreneurs who support the Communist Party quite do you think as it's you again the party is focused on Co all the forces acting on the structure of the economy either party did so they need us I did you that is how you get there you can see a and look at the rich list shows the close connection between big business in the Communist Party out of the 20 richest Chinese entrepreneurs you will find 18 party members also impressive are the incomes of the members of the People's Congress the official Parliament which meets once a year the 70 richest members collectively have assets worth over 65 billion euros this compares favorably to the meager four billion euros available to the 70 richest members of Congress in Washington whilst the irony of wealthy capitalists running the Communist Party may be lost on men like some rumbles of discontent can still be heard especially amongst the left-wing of the Communist Party from individuals like economists angkong Liang he describes the incorporation of capitalists into the party it's an historic mistake directors of companies can't be party secretaries it should be the proletariat secretaries and the directors representing the capitalists when a person takes those two functions one thing is clear the Communist Party is nothing but a capitalist party three and three know what dung usage shambleau go ahead and get a pretender a group who were an equally powerful and opaque network has emerged as economic and party interests have merged that's according to Australian economist David Kelly how Seraph he operates a private research institutes in Beijing I don't know if you saw today the market entry is by no means open and it's much easier to get into the market in most of the country if you have the party background but once you're in the market in many sectors in many cases you have to play by the market rules but your entry was not by market rules if you're a businessman you get into a business dispute it might go to court if you're if you're catch to the party you've got the decision you've got the decision in your pocket our amateur racers and young entrepreneurs admit party connections are useful but insist they aren't everything margin another for her car when she's offering even Bedard or in the eighties businessmen could do nothing without the party don't know without contacts it was in a possum a violate but now other things are more important she got a good woody today you have to understand and capture the market what contacts are of course useful but no more than five to ten percent of the business referral Lee remains silent about his family background he refuses to reveal the nature of his connections with senior party officials but having these contacts has made it easier for him to make a great deal of money those without contacts who move in the everyday circles of ordinary men can make the pilgrimage to this place who are she supposedly the richest community in China every year around 2 million tourists travel to this model village of red capitalism they all come with only one purpose in mind to find out the secrets of getting rich they can get tips from this 86 year old man every day we were in Bao imparts his wisdom to the pilgrims for decades he was the party chief in who are she it was his vision for transforming the impoverished rural village which is responsible for the residents new wealth more watches how are you Whitney ah socialism is our number one priority but we also use the positive aspects of capitalism but that creates socialism with Chinese characteristics ah whatever the ideology the main thing is that we become rich together number book with genre jury who are she has become a sensor of conspicuous wealth on the 60th floor of the recently completed hotel you can admire this golden ball it's made of pure gold and weighs exactly one Sun and eight kilograms who are she now has dozens of factories the village holding listed on the stock exchange makes more than six billion euros in annual sales the four hundred established local families are shareholders and benefit from the profits all alone exclusive townhouses its wealth the thousands of migrant workers who toil in the factories of who as she can only dream of the rich province of Zhejiang south of Shanghai is considered the cradle of Chinese capitalism the assumed entrepreneurial skill of the residents is apparently taken for granted even when the nation was still on a tight socialist course the grip of the party in Zhejiang was weaker than in the rest of the country here you can find the headquarters of neo glory world leader in fashion jewelry the boss miss Zhao embodies the Chinese dream from a poor farmer's daughter it's one of the richest women in China miss Zhao found her start selling cheap junk traveling as a stowaway on the nation's railways law boards attempt without nucleus I was able to get a seat I could ride continuously for two days peace out pageant shoe when it came to the evening I would creep under the seats lie down and sleep there and during the day I stood in the hallway again just some Iguala joke I was a days past year after year it was very difficult to make money joint you that was 25 years ago today the sow has a fortune of 2 billion euros employs six thousand people and has long since moved into the real estate and grocery industries in season so that the saw the jolly learn her partners occupies the top floors of the company seven story headquarters hundreds of square meters housing for generations that's 36 family members some of whom sit on the board of the group as her extended family is intricately woven into the success with Miss sow so I suggest Union and what's your side char disorder Somali bagua Chandni my how did either so I my sister along with her husband is responsible for our partnership with the Austrian company it's Faris cases all you possess all passes are you Michael said of us are you leasing has sheet homeless this lunch meeting is between a group of investors from South China they talk about golf projects it could be developed jointly events and transactions like these dominate the life of Miss Zhao this means she has little time for much else this Buddhist temple is her retreat it provides short moments of calm in the restless life of a confident woman who she says has had to work hard to succeed in the male-dominated business world of China sensual a aegis or woman's well since wala nan and Jo from birth though those in our society you clean up men are strong courageous response up your noise yeah we're gonna supposedly slightly weaker in these areas Dalian doubts as an entrepreneur you have to bring exactly these characteristics teas hey yo Danny Danny Prison them all on board which other was cheap and cheap rates its own I took a Sanka family three decades of economic liberalisation have changed the face of China those benefiting most from the change of the children of the first generation of pioneering red capitalists immodest accustomed to success and able to spend more money in one luxury evening than others can earn in a year this is life in the new China and it looks as though the red ideals of the past have probably been discarded forever you you

27 thoughts on “Socialist China's Billionaire Playboys

  • That is true; man can only eat, drink and play so much or to a point. There is limit. Excess money eventually becomes society's money.

  • Ideologies are noise, have nothing to do with reality neither they have an accurate physical reference in which we all can agree.
    To manage we must make inventories of the Earth resources.

  • Message to poor people who meet rich bragging rights kids or just plain bragging about themselves, poor people just say good for you or lucky for you to the braggers do not covet just work with what you have and surround yourself with positive people. Remember depression is a choice. Don't let it be a priority in your life.

  • 一群脑残败家子,爸爸都快被三規了,还在败家。一口烂牙也当富家子,等着替你老爸收尸吧。

  • That is trash-China as yet a rich country if taking into account millions of poors and handicaped in remote countryside .I think they would rethink -think of Confucius -of philantrophy-Share with Chinese peasents…be patriotic …Don't act like the modern Tartufs-Idiotic "nouveaux riches"…jetter la monaie a la fenetre…Enjoy with moderation but always share with poor Chineses..

  • Proof communism doesn't work – it eventually just transforms into a more extreme form of concentrated wealth capitalism.

  • no choice, we shifted all our jobs & manufacturing to China 20years back. Now they prosper, we blame them.
    Who started this rubbish of outsourcing to cheaper countries?

  • These guys didnt become rich thru hard work its connections within the communist party together with corruption.

  • As easy and quick as it was for some of them to become rich, it will be distressingly so to become poor again when their time comes. And then what will they have to show for it? "I once owned a replica of the Palace of Versailles with statues of Greek Gods in the middle of China." Bravo.

  • so the original title was The Orient Excess. who's to blame for the title of the upload? coz i see billionaires but no playboys…. friggin st*p*d whoever did it really

  • "Mr. Lee refuses to discuss how he made his fortune…"

    That's how you spell lying, cheating, stealing, graft, fraud, forgery and scamming….. China is one massive scam…..

  • All the money that is spent on useless garbage just because it’s pretty why don’t you help some people enough money in this video to feed the world

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