CHINESE BILLIONAIRE IS SECOND-BIGGEST FOREIGN OWNER OF US LAND
A Chinese national who made his fortune from online gaming has emerged as one of the most significant non-American holders of land in the US. Chen Tianqiao owns 198,000 acres (80,127 hectares) of Oregon timberland, making him the country’s 82nd-largest property owner.
Chen, 50, acquired the acreage from Fidelity National Financial Ventures for $85 million in 2015. Oregon tax records last month disclosed the name of the beneficial owner as Shanda Asset Management, the same moniker as Chen’s Singapore-based holding group. His Oregon property makes him one of the biggest individual owners of American land by a non-US citizen.