It’s no secret that Yang Huiyan is one of the wealthiest people in China. What may be surprising, however, is just how much she’s worth. According to recent estimates, Yang Huiyan has a stunning net worth of $9.4 billion.
So how did she acquire such immense wealth? Much of it can be traced back to her father, Yeung Kwok Keung, who is the founder and chairman of Country Garden Holdings, a major real estate developer in China. Prior to Country Garden’s stock market launch in 2007, Yeung gifted 70% of the company’s shares to his daughter. That same year, she was named the wealthiest person in China with a net worth of $16.2 billion.
Though her fortune has taken a hit in recent years due to economic volatility in China, 2012 was a busy year for Country Garden. The company was working on 110 projects across its home base of Guangdong Province, and17 new hotels were added to its portfolio (bringing the total number of hotels owned or operated by Country Garden to 29). Phoenix, the company’s flagship hotel brand, continued to expand as well.
Looking forward, it will be interesting to see if Yang Huiyan can maintain her status as one of China’s richest people. Given her significant stake in Country Garden Holdings and the company’s continued growth, it seems likely that she will be able to hold onto her spot on the list for years to come.
Net Worth details: Yang Huiyan is the owner of a 57% stake in the real estate developer Country Garden Holdings. The company was founded by Yang’s father in 1992 and is located in Foshan, China. In 2015, it reported revenue of $18 billion.
Country Garden owner Yang Huiyan’s fortune has shrunk from $24 billion earlier this year to $9.4 billion now. The downturn in the real estate market and the sharp drop in the stocks of real estate companies are the reasons why Yang Huiyan’s net worth has shrunk sharply.
Falling house prices, people’s low willingness to buy houses, and the debt default crisis of housing companies have put housing companies in a difficult situation. During this period of time, the collective loan suspension of unfinished buildings in various places has made the problem of shortage of funds for housing enterprises more prominent, and will also make it more difficult for housing enterprises. The collective suspension of loans for unfinished buildings has made people less confident in housing companies, less willing to buy a house, and banks will be more careful in issuing housing loans, all of which will affect the sales of commercial housing. Earlier this week, international rating agency S&P Global Ratings estimated that sales of commercial housing in China this year will fall by a third from a year earlier. As sales decline further, more housing companies will struggle to survive.
Now Country Garden’s market value is less than half of what it was at the beginning of the year, and the net worth of the owner, Yang Huiyan, has shrunk by more than half. But a dead camel is bigger than a horse. Yang Huiyan remains the richest woman in China and Asia, according to the Bloomberg Billionaires Index, though she is only worth $100 million more than the second-richest woman in Asia.
The second richest woman in Asia is also Chinese. She is Fan Hongwei, the owner of Hengli Petrochemical Co., Ltd.
Josh Yang is a Tech Writer who loves helping people understand what's going on in the tech industry. He writes about all things tech, from the newest gadgets to how to get your cat off your keyboard. Josh has been writing since 2013 and enjoys discovering new topics and sharing them with his audience.