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.
The real estate tycoon Xu Jiayin who founded the Evergrande Group, is now 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.
According to media reports, Xu Jiayin is majority owner of the Guangzhou Evergrande Football Club, which is a professional football club that currently participates in the Chinese Super League under the license of the Chinese Football Association. The team is based in Guangzhou, Guangdong, and their home is the Tianhe Stadium which has a seating capacity of 58,500. According to Forbes, Guangzhou Evergrande is the most valuable football team in China, with a team value of $282 million and an estimated revenue of $57 million in 2015.
Mukesh Ambani-led Reliance Industries owns Mumbai Indians, which is a franchise cricket team in the Indian Premier League (IPL). The Mumbai franchise was sold to the Reliance Industries Ltd (RIL) for $111.9 million, making it the most expensive team to be sold in the IPL. RIL, owned by Mukesh Ambani acquired the rights to the franchise for a period of 10 years, starting 2007.
Xu Jiayin also owns a luxury Yacht in China with an estimated $80 million in value. The 62-metre long Yacht also features a ‘touch and go’ helipad! Mukesh Ambani’s home Antilla, often referred to as world’s most expensive private residential property, valued at over $1 billion, also features three helipads on the terrace along with an air space floor. The 27-floor skyscraper boasts of a 50-person home-theater with a garden roof, a private car-service center located on the 7th floor, and 9 high-speed elevators, each dedicated for different floors and purpose, according to reports. In 2007, Mukesh Ambani had gifted his wife, Neeta Ambani, a Rs 242 crore Airbus 319 Corporate Jet on her 44th birthday. Mukesh Ambani also owns a Boeing Business Jet 2 which is worth $73 million and also a Falcon 900EX, as per reports.
The the 59-year-old Xu Jiayin’s China Evergrande Group has a market value of $47 billion, while total debt of the company tops an eye-popping $100 billion. In comparision, Reliance Industries has a market capitalization of $26.9 billion as on date, according to Bloomberg.