Saturday, October 24, 2015

Went for a birdie

Members Wentworth Club, in Surrey, one of the U.K.'s most prestigious golf clubs were informed annual rates would double and cost of joining would rise to £125,000 from £15,000. That's a 733 percent increase. Existing members were asked to pay a one-time fee of £100,000.It is owned by Chanchai Ruayrungruang (also known by his Chinese name, Yan Bin) through his closely held Beijing-based conglomerate, Reignwood Group. He's the 2nd-richest person in Thailand, and the world's 153rd-richest, worth $7.9 billion according to the Bloomberg Billionaires Index. Reignwood is best known in China for distributing the energy drink Red Bull, though it's also involved in energy, property and financial leasing, among other industries. Reignwood bought Wentworth in September 2014 for £135 million.

He also owns the exclusive Reignwood Pine Valley Golf club in the countryside outside Beijing, near the Great Wall. China's first invitation-only golf club, its individual members pay a minimum of $250,000 to join

1 comment:

USuncutMN said...