Football/Investment
2017: No.1 - £4.2bn
2016: - New Entry
Compared to some other drawn-out football club sales, Steve Morgan's £30 million disposal of to Guo Guangchang's Fosun International Group was a whirlwind affair.
The diversified Chinese company involved in healthcare, fashion, tourism and property investment completed the deal in July, following Steve Morgan's announcement last September that he was looking for a buyer for the club which he bought from the late Sir Jack Hayward for £10.
Steve Morgan invested heavily in the club, with new stands and facilities as well as community and youth facilities. He left it in good financial shape with £26.4 million turnover and a £731,000 pre-tax profit. Gate receipts reached £5.6 million.
Guo Guanchang runs the Fosun business which has investment assets in the Europe including holiday companies and Club Med, nursery brand Silver Cross and entertainment group Cirque de Soleil.
After the takeover Fosun promised to invest between £20 million and £30 million over the next two years to get the club into the as soon as possible.
But while the new owners are certainly not short of cash, they have shown themselves to be short of patience. Italian manager Walter Zenga was shown the door just 87 days into his managership after a run of defeats saw the team slide towards the relegation zone. Zenga was Kenny Jackett's replacement after he too left the club.
Fosun investment director Jeff Shi heads up a new four-man board at Wolves, representing Fosun chairman Guo Guanchang, 49.
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Guo Guanchang, a devotee of Tai Chi, was born in a small farming village in 1967.
He came from a poor family and his mother grew sweet potatoes to feed the family. He received a government bursary to attend Shanghai's renowned Fudan University where he studied philosophy.
When the Chinese government began to encourage business enterprise, he and four university friends set up their own company in 1992.
It began by advising foreign companies trying to set up in the rapidly growing Chinese economy.
The business grew into a huge conglomerate, becoming the biggest non-state owned enterprise in China. He married to Shanghai television presenter Wang Jinyuan.
Fosun continues to be successful with revenues of £3.7 billion in the first half of the year and profits of £502 million.
Almost half of its income comes from large insurance businesses in China, the USA and Portugal. The business is expanding into Brazil, Russia and India.