The Journey of Chen Tianqiao : Business Tycoon
Biography of Chen Tianqiao:
Chen Tianqiao, a Chinese businessman born in 1973, has made
a significant mark in the business world with an estimated wealth of US$4
billion. Originally from Shanghai, he relocated to Singapore in 2009 before
moving to California's Bay Area in 2017.
In 2016, Chen co-founded the Tianqiao and Chrissy Chen
Institute. This institute reflects his commitment to philanthropy and his
interest in contributing to scientific research and healthcare initiatives.
Early Life and Education
Chen Tianqiao was born in 1973 in Zhejiang Province, China.
His upbringing near Shanghai was influenced by his father, an engineer, and his
mother, a middle school English teacher. In 1993, Chen earned a bachelor's
degree in economics from Fudan University.
Leadership at Shanda Group
Mr. Chen Tianqiao is not only a co-founder but also serves
as the Chief Executive Officer and Chairman at Shanda Group. He has been
pivotal as Chairman at Shanda Games since August 2012. Since the inception of
Shanda Interactive in December 1999, Mr. Chen has held the dual roles of
Chairman of the Board and Chief Executive Officer. He assumed the presidency of
Shanda Interactive in January 2010.
Career Beginnings
Chen began his career at the state-run property developer
Shanghai Lujiazui Group in 1994. He held several management positions,
including roles in the public relations office and as secretary to the
chairman. By 1998, he advanced to vice director of the office of the president
at Kinghing Trust & Investment. However, he resigned from this position in
1999 to pursue new ventures.
Entrepreneurship in Online Gaming
In 1999, Chen embarked on a new journey by founding Shanda
Interactive Entertainment Limited. This venture, started with his family,
focused on the burgeoning online games industry. Shanda Interactive
Entertainment would go on to become a significant player in China's online
gaming sector, marking Chen's entry into entrepreneurship and pioneering role
in the digital entertainment industry.
Rise to Prominence and Business Ventures
In 2004, Shanda Interactive Entertainment, under Chen
Tianqiao's leadership, became the largest Internet company in China by market
capitalization. This success propelled Chen to the second spot on China's Hurun
Review rich list that year, marking a significant milestone in his career. He
was also recognized as a leading "Rising Business Star" by China
Central Television and featured on the MIT Technology Review's "100
Innovators Under 35" list.
Transition to Private Ownership and Expansion
In early 2012, Shanda Group, led by Chen Tianqiao along with
his wife and brother, transitioned to private ownership, retaining a combined
57% stake. The group's diversification continued with significant investments,
including acquiring over 80,127 hectares of land in Oregon through Shanda Asset
Management for US$85 million in 2015. This acquisition made Chen one of the
largest foreign landowners in the United States at the time.
Strategic Investments and Wealth Accumulation
After selling their stakes in Shanda Games in November 2014,
Chen focused on expanding Shanda Group's investment portfolio. By early 2017,
Shanda Group emerged as a major shareholder in companies like Legg Mason,
Lending Club, and Community Health Systems. The group also held substantial
property operations in China and North America and stakes in prestigious
companies such as Sotheby's.
Continued Influence and Recognition
Chen Tianqiao's entrepreneurial acumen and strategic
investments consistently earned him a place on various rich lists, with a
personal net worth estimated at $4 billion in 2017. According to the Hurun
Report, he ranked as the 93rd richest person in China that year. In 2018, Chen
expanded his land holdings by purchasing 500,000 acres in Ontario,
demonstrating his ongoing commitment to strategic investments and asset
management.
Honors and Legacy
In recognition of his contributions to technology entrepreneurship,
Chen received the Lifetime Achievement as Tech Entrepreneur award from the
Committee of 100 in 2018. His achievements underscore his influential role in
both business and philanthropy, shaping his legacy as a visionary leader in
global entrepreneurship.
The Journey of Chen Tianqiao : Business Tycoon / Biography of Chen Tianqiao / Life lessons / Strategies used / Trader / Investor /
Politics
Chen became a member of the Chinese Communist Party when he
was 18 years old. He later achieved a position on the central committee of the
Communist Youth League of China in Shanghai. In 2008, Chen was selected to join
the 11th National Committee of the Chinese People's Political Consultative
Conference (CPPCC). His involvement continued in 2013 when he became a member
of the 12th National Committee of the CPPCC.
Boards
Chen currently serves as the chairman of the Shanda Group, a
prominent position in the company. Additionally, he holds seats on the boards
of several other companies in his investment portfolio.
Personal Life
Chen is married to Qianqian "Chrissy" Luo.
Originally from Shanghai, they relocated to Singapore in 2009 before moving to
the Bay Area of California in late 2017. They currently reside in Menlo Park,
California. In 2018, Chen purchased a historic mansion on East 69th Street in
the Upper East Side of Manhattan for $39 million.
Public and Community Service
Mr. Chen Tianqiao is actively involved in public service and
holds several prominent roles. He serves as a member of the 11th National
Committee of the Chinese People's Political Consultative Conference (CPPCC).
Additionally, he holds positions as Vice-Chairman of the Shanghai Federation of
Industry and Commerce, Vice-Chairman of the Shanghai Youth Union,
Vice-President of the Shanghai Youth Development Foundation, and Vice-Chairman
of the Shanghai Information Services Association. His commitment to education
is evident as a member of the Board of Directors at Fudan University.
Some companies where he invested
Mojo Vision - Electrical Equipment
DigiFT -Financial Software
NeuroXess- Therapeutic Devices
Solfar - Entertainment Software
Leg Masson - Asset Management
Lumus – Hardware
LendingClub - Commercial Banks
SpaceVR - Electronics (B2C)
Timeline
1973 Chen Tianqiao was born in Zhejiang Province, China.
1993 Chen earned a bachelor's degree in economics from Fudan
University.
1994 Chen joined Shanghai Lujiazui Group, holding management
positions.
1998 Chen became vice director of the office of the
president of Kinghing Trust & Investment.
1999 Chen resigned from Kinghing Trust & Investment and
co-founded Shanda Interactive Entertainment Limited as an online games company.
2004 Shanda became the largest Internet company in China by
market capitalization.
2008 Chen was appointed to the 11th National Committee of
the Chinese People's Political Consultative Conference (CPPCC).
2009 Chen moved from Shanghai to Singapore.
2012 Shanda Group went private, with Chen and his family
retaining a combined 57% stake.
2013 Chen was appointed to the 12th National Committee of
the Chinese People's Political Consultative Conference (CPPCC).
2014 Chen sold all stakes in Shanda Games, leading Shanda
Group to focus on investing.
2015 Chen acquired over 80,127 hectares of land in Oregon,
US, becoming one of the largest foreign landowners in the country.
2017 Chen moved from Singapore to the Bay Area of California.
2018 Chen purchased 500,000 acres in Ontario, Canada.
