"Mystery buyer" behind $157 million Manhattan apartment

Another Chinese billionaire bought a luxury flat in New York. This time it is Joe Tsai who is a co-founder of Alibaba. He bought 2 floor condo apartment in 220 Central Park South. It has sweeping views of Central Park and mid-town.

Joe Tsai is worth about $10 billion.

China is creating 3 new billionaires per week so many more real estate purchases in the US are expected.