Asia Billionaires Emerging at Torrid Pace as Risk Abounds
- Meituan Dianping, the Yelp of China, burns cash to fuel growth
- Company co-founder Wang Xing worth an estimated $6.2 billion
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Another day. Another IPO. Another Chinese billionaire magically appears.
Mu Rongjun, the co-founder of food-delivery behemoth Meituan Dianping, is poised to be the latest to join the club as the company announced plans to go public last month. Of the 27 billionaires to surface in Asia this year, about a third did so through initial public offerings in Hong Kong and Shenzhen, according to the Bloomberg Billionaires Index.