The outlandish life of Guo Wengui, once one of China’s richest men and Steve Bannon confidant whom the DOJ accuses of a billion-dollar fraud

  Guo Wengui's life has been likened to a story from a spy thriller.


The controversial billionaire, once one of China's richest men, has positioned himself as an activist trying "to expose the leviathan Chinese mafia state."


An ally of Steve Bannon and other pro-Trump Republicans, Guo has also variously portrayed himself as a rapper, online influencer, crypto guru and real estate mogul.


The enigma around the billionaire deepened this week after US authorities charged the property tycoon with orchestrating a billion-dollar fraud.

Much of his background is still shrouded in mystery and Guo's exact purpose and loyalties are the subject of speculation and conspiracy theories. 


Here's what we know about Guo and his outlandish lifestyle: 

Guo grew up in a village in Xicaoying, in the Chinese province of Shandong

Zhengzhou
New tower blocks being constructed in Zhengzhou in 2007. 
Orjan F. Ellingvag/Dagens Naringsliv/Corbis via Getty Images

Guo was born into an impoverished family of eight in a mining town in Jilin Province. 

"Sometimes we didn't even have firewood," Guo told the New York Times. "So we burned the wet twigs from the mountains — the smoke was so thick." 

He then moved to Shandong province, where according to a New Yorker, he spent time in prison before launching his business career in Zhangzhou, Henan. 

He met his wife and married her when he was only 15, she 14, the New York Times claims. 

 

Guo made his fortune in China's real estate market before fleeing the country

Guo Wengui building
Pangu Plaza Tower 5, an office building in Beijing formerly owned by Guo Wengui 
Zhang Peng/LightRocket via Getty Images

In Zhengzhou, Guo founded the Zhengzhou Yuda Property Company and built city's tallest building, the Yuda International Trade Center. 

His signature project, however, was the Pangu Plaza near Beijing's Birds Nest stadium. 

But Guo claims he fell foul of powerful and corrupt officials, and fled the country in 2014, claiming asylum in the US in 2017.

Guo has himself been accused of corruption and fraud by Chinese authorities, charges he denies.

Guo was once one of the wealthiest men in China

Guo yacht
A 145-foot luxury yacht worth approximately $37 million which belonged to Guo Wengui is pictured in this image released as part of March 16 DOJ indictment. 
USDOJ

Guo is believed to have once been the 73rd richest person in China. His fortune was estimated at $1.1 billion in 2015.

Forbes said Guo's wealth was linked his real estate investments, and his control of a business that owned a stake in China's Founder Securities.

However he had a huge number of assets seized in Hong Kong in 2018, The South China Morning Post reported. 

Guo filed for bankruptcy in February 2022. He estimated that his assets had dropped to between $50,001 and $100,000.

Guo's New York apartment is a 9,000-square-foot $82 million penthouse overlooking Central Park

Guo in Manhattan
Billionaire Guo Wengui poses at his New York City apartment on November 28, 2017. 
TIMOTHY A. CLARY/AFP via Getty Images

The palatial apartment has been host to various journalists and political influencers.

It boasts six bedrooms and seven bathrooms, as well as a large terrace that wraps around the building. 

Previous residents in the same building have including David Bowie and Diana Ross. 

It has now become central to the case against Guo. A fire broke at the apartment on Wednesday as FBI agents were still searching it, after charging Guo with operating a billion-dollar fraud scheme.

According to the New York Post, the FBI is looking into whether the blaze may have been started remotely to destroy evidence. 

Guo formed an alliance with former Trump advisor Steve Bannon, and brokered ties with influential right-wing figures

Guo Wengui, Steve Bannon
Former White House Chief Strategist Steve Bannon (R) greets fugitive Chinese billionaire Guo Wengui on November 20, 2018 in New York 
DON EMMERT/AFP via Getty Images

Guo's alliance with Steve Bannon propelled him into elite Republican circles. 

Bannon has long railed against the Chinese government, and in 2020 the pair formed the New Federal State of China, an organisation aimed at toppling China's Communist rulers.

Guo also joined Donald Trump's Mar-a-Lago country club in Florida, and was among the funders of Gettr, the right-wing social media site created by former Trump aide Jason Miller. 

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