Chinese heir turns 25, becomes billionaire

Wang Guanran, a 25-year-old Chinese heir, has become a billionaire due to a significant rise in the value of his family's gold mining business. He inherited a 31% stake in Lingbao Gold Group in 2020, which has seen its stock price increase by over 400% in the past year, boosting his net worth to at least $1.2 billion. His fortune is primarily tied to his stake in the precious metals producer and a share in an aluminum wheel manufacturer.

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