Beginning with diamonds in the 1990s, the relatives of Wen Jiabao amassed a fortune by forming a complex business network that bought stakes in sectors as varied as real estate and telecommunications. Corporate records reviewed by The Times show that a tight-knit group of about 20 relatives and friends made investments that were sometimes aided by Asia’s wealthiest tycoons. By far the biggest source of the wealth came from investments in Ping An Insurance, China’s biggest financial services company.
The Wen Family Empire
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Beginning with diamonds in the 1990s, the relatives of Wen Jiabao amassed a fortune by forming a complex business network that bought stakes in sectors as varied as real estate and telecommunications. Corporate records reviewed by The Times show that a tight-knit group of about 20 relatives and friends made investments that were sometimes aided by Asia’s wealthiest tycoons. By far the biggest source of the wealth came from investments in Ping An Insurance, China’s biggest financial services company.
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