For the first time, someone from mainland China has made it into Forbes top 20 rich list.  China produced over 400 billionaires and billionaire families in 2015. 

Like Us on Facebook

With his fortune up $12.3 billion in 2015, China's richest man Wang Jianlin has become the world's 20th richest billionaire - the first time a person from mainland China has broke into the top 20 list. With a net worth of $28.8 billion, Wang's wealth is closing in on the fortune of the Waltons and is only $2 billion short of Hong Kong taipan Li Ka-shing's wealth. In May last year, Wang surpassed Li as the richest man in Asia, only to be dethroned after the stock market crash in July.

Wang is a former army soldier, who worked in the government before conquering the real estate market. He has since diversified his holdings to include entertainment and sports. The rapid increase in his fortune is due to two successful IPOs in 2015 for his real estate firm, Dalian Wanda Commercial Properties and Wanda Cinema Line, one of the largest theatre chains in China. The latter's stock price has soared 575% after its IPO despite the shaky nature of China's stock market.

But Wang has not stopped there. He is also planning to expand his business operations beyond China. In 2012, he acquired the iconic American cinema brand AMC Theatres, and since then embarked on an investment spree. He earlier announced that he is ready to invest $10 billion in the U.S. He also purchased a 20% stake in Spanish soccer team Atletico Madrid and also acquired the Ironman triathlon racing brand for $650 million plus debt. He is also close to sealing a deal to acquire Hollywood's Legendary Entertainment. 

TagsForbes, Li Ka-shing, Dalian Wanda Commercial Properties, Wanda Cinema Line