In 1988, Elliott Bernerd's property investment company Chelsfield bought Wentworth Golf Club for £17.7 million (also reported as £20 million). Bernerd sold 40% of the club to Japanese investors, raising £32 million, in 1989. In 2004, Chelsfield sold the remaining 60% share, as fashion industry entrepreneur Richard Caring bought the club for £130 million. In 2014 Caring sold the club for £135m to Beijing-based Reignwood Investments (a holding company associated with billionaire Yan Bin), which has made the club more exclusive by cutting the number of members and raising the fees.