A Chinese billionaire dies of an accidental fall in the south of France

Chinese billionaire Wang Jian died on Tuesday at age 57 after an accidental fall at a police station. tour of the Luberon Mbadif in south-eastern France, leaving behind a large conglomerate present in tourism, logistics and air transport.

The founder of HNA He lost his life in Bonnieux, explained the French gendarmes. "He had climbed a parapet high to take a picture and fell," said the gendarmes. Firefighters failed to revive him.

According to a source close to the case, the Chinese businessman wanted to see the view by climbing a small wall. To do this, it takes its momentum and ends up being propelled by its own forces, falling 10 meters.

The local gendarmerie brigade in charge of the investigation reports an accident.

"We mourn the loss of an exceptionally talented leader and model, whose vision and values ​​will continue to serve as a guide to all who have had the chance to meet him," he said. HNA in a statement, explaining that Wang was on a business trip to France

. It is estimated that the wealth of this understated entrepreneur is $ 1,700 million, according to Forbes magazine.

Wang had specialized in civil aviation at the University of China. Since the early 1990s, he has been involved in the founding of Hainan Airlines

– HNA, a "Gray Rhinoceros" –

According to the New York Times, Wang Jian could turn the small regional business into a large conglomerate through a long-held, secretive collaboration with his brother Wang Wei, who was selling services and equipment to Hainan Airlines

Currently, HNA, which was developed mainly in the sectors of logistics and of tourism, is perceived as a "gray rhino", according to the terms of the Chinese press, that is to say one of those companies targeted by the Chinese authorities for their worrying debt.

In fact, HNA has increased investments abroad and in May 2017, it became the largest shareholder of Deutsche Bank Deutsche Bank, with 9.9% of shares

Similarly, the conglomerate announced in October 2016 the acquisition of a quarter of the company's capital. Hilton, for $ 6.25 billion.

In the past two years, he has spent at least $ 50 billion in investments and stock purchases, not without controversy over the opacity of his complex shareholder structures

. He has entered the capital of several foreign airlines: Azul (Brazil), Aigle Azur (France), Virgin Australia (Australia) and TAP (Portugal).

In the logistics sector, he participated in the Swiss Gategroup, an on-board service provider for air transport. He also unveiled in 2016 the purchase of the aircraft leasing branch of the US group CIT for $ 10 billion.

At the end of 2017, HNA announced that its total debt was approximately 638 billion yuan ($ 94.8 billion), an increase of 36% over the end of 2016.

If one takes into account all the entities that she controls, she could reach a debt of about 1 trillion yuan, according to the Bloomberg financial agency. 19659005] At the request of the Chinese government, HNA strives to make transfers and get rid of expensive real estate to float its cash