Asia's richest man just bought World Triathlon for $650 Million

folarin okunola

August 27, 2015 2:29 PM

Wang already owns a stake in Spanish football club Atletico Madrid football club and Infront Sports & Media.

Asia's richest man, Wang Jianlin

According to several media reports, Chinese billionaire Wang Jianlin has agreed to pay $650 million for World Triathlon Corporation, in the latest addition to his growing sports empire. World Triathlon organizes Ironman events and controls the brand name.

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The signature Ironman event is made up of a 2.4-mile swim, a 112-mile bicycle ride, and 26.2-mile run (that's a full marathon).

After completing the spartan-like event, a lot of participants choose to tattoo the Ironman brand logo on their bodies.

Wang already owns a stake in Spanish football club Atletico Madrid football club and Infront Sports & Media.

Once the World Triathlon acquisition is done, the Chinese billionaires’ company, Dalian Wanda Group, says it will be the "largest sports operating company in the world."

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Wang recently surpassed Hong Kong billionaire Li Ka-Shing as Asia's richest man, according to a new ranking released last week by the Hurun Report. Wang is worth $42.6 billion, according to the report.

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