Wine Spectator: China’s Internet Billionaire Buys Bordeaux Château For More Than $16MFebruary 26, 2016
Jack Ma, the founder and chairman of Alibaba and one of the richest men in China, has quietly begun a campaign to acquire Bordeaux wineries, completing a deal to buy Château de Sours, a 198-acre estate in Entre-Deux-Mers. Trading through holding companies in Luxembourg and Hong Kong, Ma paid more than $16 million, three times the value of similar châteaus.
Located in the town of Saint-Quentin-de-Baron, de Sours dates back to 1785. Ma bought it from Martin Krajewski, who will remain at the estate as a consultant.
Ma, 51, founded Alibaba Group, a network of Internet businesses, in 1999, and is worth an estimated $21.3 billion. He and a group of his friends, also Chinese billionaires, visited Bordeaux last year, each with the intention of buying châteaus. As a group, they intend to acquire 20 properties this year and 30 within two years, according to a source close to the dealmaking. They are also in the hunt for a négociant firm. An umbrella company would oversee management and distribution. Wine Spectator has the full story.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.