HOLLYWOOD—China’s richest man, Wang Jianlin just purchased Dick Clark Productions, one of the leading companies for entertainment in Hollywood, for $1 billion. The entertainment company is home to renowned TV shows including the Golden Globe Awards, The American Music Awards, and Times Square New Years Rocking Eve Show.

The purchase of the company came through the Dalian Wanda Group which acquired  the AMC Movie Theater chain for $2.6 billion in 2012. The Corporation bought Legendary Entertainment, a production company that produced the films “Inception” and “The Dark Knight,” for $3.5 billion in January 2016 and is currently looking to acquire Carmike Cinemas which will make the conglomerate group the largest theater owner in the world.

Before becoming a self-made billionaire,  Jianlin served in the military, as part of the People’s Liberation Army from 1970 to 1986, according to www.successstory.com. His initial fortune can be attributed to his years in real estate. Dalian Wanda Group was started with a $120,000 loan that he later turned into a multi-billion dollar company.

According to Forbes.com, since talks about acquiring Dick Clark Productions, Jianlin has assured the Hollywood Foreign Press Association, the organization that stages the Golden Globes,  that he has no intention of interfering with its nominee and winner process.