birth_place networth salary birth_date article_title name occupation
prc shanghai , china us n/a 31 january 1942 larry yung
 larry yung chi-kin 榮智健 rong zhijian former chairman of citic pacific
larry yung

larry yung chi-kin -lrb- -rrb- -lrb- born january 1942 -rrb- , also often called rong zhijian in mainland china , is a chinese businessman and the former chairman of citic pacific , a hong kong-based conglomerate .
according to hurun report , he was one of the wealthiest people in mainland china , with a personal net worth of us$ 2.9 billion as of 2013 . .
he was in charge of citic pacific when it made its first major loss in 20 years , us$ 2 billion , due to speculation in fx accumulators .
this exposed the lack of internal management controls , which subsequently resulted in a temporary suspension of citic pacific shares on the hong kong stock exchange and police raids at citic .
yung was born in shanghai to businessman rong yiren , who later became the vice president of china during the 1990s .
he graduated from shanghai nanyang model high school in 1959 and went on to tianjin university , where he majored in electronic engineering .
yung 's uncle , paul , elder brother of yiren , died with 34 others in hong kong 's worst air disaster on basalt island on 21 december 1948 .
when the cultural revolution started , because of his capitalist background , rong yiren was exiled to liangshan , in sichuan , in 1966 .
after the turbulent years , he became associated with deng xiaoping and was later appointed vice-president of the people 's republic of china .
his family 's ties to the communist party of china earned him the nickname `` the red capitalist . ''
with the support of the chinese government and its capital , son larry moved to hong kong and started businesses with the chinese government as major shareholder , becoming wealthy in the process .
yung is on the board of directors of the hong kong jockey club .
he is also the owner of bombardier global express .
in 2007 , yung was reported to have joined the ranks of real estate speculators in shanghai with an investment of more than one billion rmb .
in 2009 , having left citic , he established yung 's enterprise holdings to pursue this line of business .
