China’s second richest man, Alibaba founder Jack Ma, is the latest Chinese investor to purchase a renowned French vineyard.
Jack Ma has bought the Château de Sours vineyard in the renowned wine growing region of Bordeaux, according to an article of French news agency «AFP». The 85-hectare estate contains a castle dating back to the 18th century and is said to produce up to 500,000 bottles of red, white and rosé wines a year.
He purchased the vineyard from Briton Martin Krajewski via one of his Hong Kong-based businesses, according to a legal notice. The purchase price has not been made public.
Increasing List of Chinese Investors
Ma joins an increasing list of Chinese investors who have purchased in Bordeaux and becomes one of the highest profile château buyers in the French wine region. His personal fortune according to Forbes, is estimated at $21.5 billion.
In excess of 100 estates in France’s southwest wine-producing area are currently owned by Chinese tycoons looking to diversify their riches and also capitalise on the demand for wine from their homeland.
Biggest Consumer of French Red Wine
China is the biggest consumer of red wine in the world and despite the slowing economy, remains the top export market for Bordeaux.
