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Billionaire’s son Wang Sicong, who owes US$21.6 million, ordered to stick to the bare necessities

  • No more first-class travel, holidays or buying property for son of Dalian Wanda Group chairman after ruling by Shanghai court
  • Decision comes after Wang loses case brought by e-sports gaming host over US$515,000 contract dispute

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A court in Shanghai has pulled the plug on Wang Sicong’s extravagant lifestyle. Photo: Handout
Zhuang Pinghuiin Beijing
Wang Sicong, the son of Chinese billionaire Wang Jianlin, who was identified as having personal debts totalling US$21.6 million has also been told he must restrict any future spending to life’s necessities, according to a court report.
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Issued by Shanghai Jiading District Court last month, the order came following a request by Cao Yue, an e-sports gaming host who in December last year won a lawsuit against Shanghai Panda Entertainment Co – founded by Wang Jnr – involving a 3.6 million yuan (US$515,000) contract dispute, the document said.

On Monday, the Beijing No 2 Intermediate People’s Court, named the 31-year-old Wang as being personally liable in a financial dispute involving about 151 million yuan.

Wang once boasted that his pet dog Coco had travelled by private jet. Photo: Weibo
Wang once boasted that his pet dog Coco had travelled by private jet. Photo: Weibo

Under the Shanghai ruling, Wang is banned from buying property, going on holiday, flying, travelling first class on boats and trains – including China’s high-speed rail network – staying in star-rated hotels, visiting nightclubs and playing golf.

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Subject to approval by the district court, any of the restrictions may be lifted temporarily if deemed to be restrictive to Wang’s genuine business activities.

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