Update: Missing Billionaire Businessman Resurfaces In China

Photo: Bloomberg/Getty Images.
Guo Guangchang is reportedly missing.
Update: Guo Guangchang, the Chinese billionaire businessman whose disappearance made international headlines last week, has resurfaced. His company, the Fosun Group, said the tycoon had been detained by police as part of an investigation that concerned private, not business, affairs, according to the BBC. Guangchang reportedly made a public appearance at the company's annual meeting in Shanghai following his release.

This story was originally published on Friday, December 11, 2015.

One of China's biggest billionaire businessmen has vanished.

Guo Guangchang is chairman of the Fosun Group, China's largest private company. The group's interests include major brands such as Club Med and Cirque du Soleil.

The company lost touch with its executive on Thursday, according to widespread media reports. The timing of his disappearance, which happened in the middle of a massive anti-corruption crackdown, has prompted speculation that he is being detained or questioned by authorities, The Guardian reported, citing local media.

News that the Fosun Group had lost contact with its chairman was first reported by Caixin magazine, which cited anonymous sources on its website.

Bloomberg has ranked Guo, who has a reported net worth of $5.6 billion, as China's 17th-richest person. His wealth and business acumen have earned him a reputation as "China's Warren Buffett."

A Fosun executive told Bloomberg via text that the company is “handling” the situation. Fosun has not issued an official response to requests for comment from Refinery29 or other media outlets.

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