Xiao Says He Models Himself After Warren Buffett

On the twenty-fifth anniversary of the Tiananmen Square massacre, the New York Times profiled head of the Peking University student union Xiao Jianhua, who worked with the government to try defuse tensions ahead of the protests. Now in his forties, Xiao is a billionaire with close ties to China’s ruling elite, but in a response to the profile he claims to have earned his fortune by following the example of Warren Buffett not through political corruption.

A statement released by his company Tomorrow Group says that Xiao’s reaction to Tiananmen Square and the crackdown that followed...