Domain billionaires are popular in China.
A Chinese billionaire from Shanghai has registered 1.2 million .XYZ domains today, between 7am and 9am.
Xiong Yang Zen, who made the bulk of his fortune manufacturing baby food, women’s faux bags and shoes and nuclear byproduct processing units, is now diversifying his investments.
The 34 year old billionaire flies between Shanghai and Los Angeles daily, to discuss investment opportunities with domain Registries in California.
“We look invest more in digital asset domain, four letter XYZ and number XYZ best,” said Ming Song Kong, virtual real estate manager for the Chinese mogul.
“Experience with China stock market, last year made money reverse market mentality for defeat crash. So buy XYZ domain, so penny cheap, success domain investment,” added Ming Song Kong.
It comes as no surprise seeing the ultra-rich Chinese billionaires enter the domain investment market, and gTLDs in particular.
So far, the immense success of the .XYZ penny promotion has generated hundreds of thousands of domain portfolios overnight, many of which are in China.
According to Ming Song Kong, in the coming days Xiong Yang Zen plans to acquire several million more .XYZ domain names, as the gTLD matches his name’s acronym.
This is considered very lucky, in China and the far East.
