Juan Perez, Jay Z associateJay Z’s 40/40 Club opened in New York City in 2003 and quickly became a popular destination for athletes visiting town. The rapper often would mingle with his guests, and inevitably talk would turn from sports to business. «They all wanted advice,» said Juan Perez, Jay Z’s longtime associate who co owned and managed the club.

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Recently bumped from top spot of China’s rich list by tech giant Alibaba founder Jack Ma, Wang established an Australian arm of his sprawling Wanda Group empire in August. Funded with an initial cash chest of $1.7 billion, Wanda Australia’s first foray will be a joint venture with fellow Chinese group Ridong to develop the $1 billion Jewel hotel and apartment resort complex on the Gold Coast, amid a string of acquisitions in London, Madrid and other parts of Europe. Wanda has the stated ambition of becoming the largest owner of five star hotels across the world..

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