Son of property tycoon barred from high-end spending

Source:Global Times Published: 2019/11/9 18:20:37

Wang Sicong attends a music festival in 2017. Photo: IC

Wang Sicong, a super celebrity in the world's largest internet market and the only son of Chinese property tycoon Wang Jianlin, has been barred from wide-ranging high-end consumption due to a contract dispute involving his live-streaming business, according to a local Chinese court ruling that became publicly known on Saturday.

The consumption restriction order was issued by Shanghai's Jiading district court on October 12.

Panda TV and its legal representative and actual controller Wang Sicong were ordered to refrain from flying beyond standard class, buying high-speed railway first-class seats, spending in star-rated hotels, nightclubs, and golf courses, travelling and vacationing, among other behaviors that may come under the purview of high-spending consumption items.

Disobeying the restriction order, if verified, will lead to fines and detainment, and gross violations that constitute crimes will lead to Wang to face criminal penalties, read the court document.

The news that began transpiring early Saturday has immediately piqued the interest of Chinese netizens who have long followed every move of the outspoken Wang, known for flaunting his wealth and lambasting Chinese entertaining stars.

The 31-year-old Wang stirred widespread speculation over the troubles he and his family business might have encountered. Only a few days ago, a court in Beijing identified Wang Sicong as a debtor owing over 150 million yuan ($21.44 million).

In a surprising move that has generated fierce contentions, all posts from his 44 million following Sina Weibo account were deleted in early November. His Weibo account remains emptied as of Saturday.

Many net users, still impressed with photos he posted in the past flaunting his pampered Alaska pooch, named Wang Keke, wearing two fancy Apple watches on its legs, lamented on the social media on how unlucky the year of 2019 has fared for Wang Sicong.

Meanwhile, his father, Wang Jianlin, slipped to the 14th on the Forbes China Rich List in 2019. Wang Jianlin, the former richest man in China, saw his fortune downsizing to $12.5 billion from $22.7 billion in 2018. 

Global Times


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