Fosun Group Chief Executive Officer Guo Guangchang Interview
Billionaire Guo Guangchang, chairman and chief executive officer of Fosun Group, speaks during an interview in New York City on April 23, 2015  Michael Nagle—Bloomberg/Getty Images

Missing Chinese Tycoon Guo Guangchang Resurfaces at Company Meeting

Dec 14, 2015

A Chinese billionaire who went missing late last week in what was a suspected detention by government authorities appeared in public Monday at his company's annual meeting in Shanghai, according to sources in attendance.

Fosun International chairman Guo Guangchang received a standing ovation after detailing his company's strategy and performance, the two sources told Reuters after requesting anonymity.

The 48-year-old tycoon was first pronounced missing on Friday, prompting Fosun, which recently staged a buyout of French resort chain Club Med and owns businesses in several industries, to suspend trading of its shares.

A statement by the company on Sunday, however, said that Guo — dubbed the Warren Buffett of China — was assisting the authorities with an investigation.

It is unclear what the probe was in relation to but it comes in the midst of a sweeping anticorruption crackdown led by President Xi Jinping in which dozens of executives at state-owned companies have been detained or questioned.

[Reuters]

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