Yang Huiyan, a Chinese businesswoman, saw her wealth rising by $2 billion in just the first four trading days of the year.
She must not have imagined even in her wildest dreams that good fortune will knock her door in just the first week of the new year. Nevertheless, it happened for real and Yang Huiyan, a Chinese businesswoman, saw her wealth rising by $2 billion in just the first four trading days of the year. A share surge at Country Garden Holdings Co, China’s largest developer by sales, has sent Vice Chairman Yang Huiyan’s soaring to new heights, Bloomberg reported. According to the Bloomberg Billionaires Index, Yang, the controlling shareholder of Country Garden, saw her fortune soar to $25.6 billion as of January 5 to rank as the fifth-richest person in the nation. That’s before Country Garden’s shares rose another 6.9 percent on Monday in Hong Kong trading, taking its year-to-date-gain to more than 16 percent.The 36-year-old Yang is China’s richest woman and the nation’s youngest billionaire, according to the Bloomberg index. In 2005, her father transferred his controlling stake to her “due to his intention to train Yang Huiyan as the successor of his family’s interest” in the group, Country Garden said in its 2007 initial public offering prospectus.Her father Yang Guoqiang, usually known by his Cantonese name Yeung Kwok Keung, co-founded Country Garden in 1992.
In October last year, the real estate tycoon Xu Jiayin who founded the Evergrande Group, became China’s richest man with a staggering net worth of $43 billion, according to a Hurun report. Xu Jiayin added more than three fourth’s of Mukesh Ambani’s total net worth in the last one year alone, thanks to the Chinese real-estate boom. Xu Jiayin added $30 billion in one year, while Mukesh Ambani, India’s richest person and Chairman of India’s most valued company, has a total of $38 billion in net worth, according to the latest Forbes India Rich list 2017. Mukesh Ambani added $15.3 billion to his wealth in the last year, to top the list for the 10th consecutive time. Xu Jiayin climbed nine places to trump well-known names, including Jack Ma of Alibaba who has now slipped to the third position in Hurun China Rich list.