- Tianqiao Chen is the US’ 82nd-biggest landowner in keeping with The Land Report.
- He owns 198,000 acres of timberland in central Oregon close to the Deschutes Nationwide Forest.
- The Chinese language billionaire cofounded online-gaming firm Shanda Interactive Leisure in 1999.
Chinese language billionaire Tianqiao Chen is the US’ 82nd-biggest particular person landowner in keeping with the newest version of The Land Report.
Chen owns 198,000 acres of timberland in central Oregon by his funding group – Shanda Asset Administration – per the rating.
A grant software from 2018 mentioned the corporate owned not less than 196,000 acres of land, with components bordering the Deschutes Nationwide Forest close to the town of Bend.
Chen acquired the land in 2015 for $85 million, or $430 per acre, The Land Report mentioned. Enterprise Insider couldn’t independently confirm this data.
Chen purchased the land from Constancy Nationwide Monetary Ventures through the funding car Whitefish Cascade Forest Assets, in keeping with each The Land Report and the Deschutes Land Belief, which carries out conservation work in central Oregon.
The land is at present owned by Shanda Asset Administration, The Land Report mentioned, citing Oregon tax data. The Deschutes Land Belief mentioned that Whitefish Cascade beforehand rebranded as Shanda Asset Administration.
The grant software included a map of Shanda Asset Administration’s land. It mentioned that the land is “extraordinarily fashionable” with hunters, hikers, mushroom pickers, and mountain bikers and that species on the land embrace deer, elk, bears, and turkeys.
The Land Report mentioned that Chen additionally owns about 500,000 acres of timberland in Ontario, Canada. Shanda Asset Administration says on its web site that it had acquired 700,000 acres of timberland predominantly in Oregon and Ontario “to diversify its holdings and shield and steward pure sources.”
Chen is behind solely the Canadian Irving household as the largest particular person proprietor of US land by a non-US citizen, Bloomberg reported.
Tianqiao Chen was a billionaire by 30
Chen stop his job at a securities agency to cofound on-line gaming firm Shanda Interactive Leisure in 1999 along with his spouse, Chrissy, and his youthful brother, per Bloomberg.
Chen listed the corporate on the Nasdaq in 2004 earlier than taking it personal once more in 2012. Bloomberg reported that Chen turned a billionaire at 30, however later largely disappeared from the general public eye amid well being issues. The information group reported Wednesday that Chen continues to be a billionaire.
Shanda Asset Administration is a department of the Shanda Group, an funding agency. In addition to the land in Oregon and Ontario, Shanda Asset Administration owns actual property in China.
