Forbes: 26-year-old woman is China's richest person
By Joe McDonald, AP Business Writer
BEIJING — A 26-year-old Ohio State University graduate worth $16.2 billion is mainland China's richest person, the business magazine Forbes said Monday, topping a list of tycoons whose wealth has soared amid a boom in stock and property prices.
The fortune of Yang Huiyan — also Asia's richest woman — is based on shares in Country Garden Holdings, a real estate developer founded by her father, Forbes said. It said the company's Hong Kong stock market debut this year made billionaires of Yang and four other people.
In second place was another developer, Hui Wing Mau, with a net worth of $7.3 billion. No. 3 was Guo Guangchang, chairman of a manufacturing, retailing and real estate conglomerate, with a fortune of $4.85 billion.
Their rise reflects a sharp increase in Chinese real estate prices over the past year despite government efforts to restrain a boom that it worries could ignite a debt crisis or leave the country's poor majority without affordable housing.
Yang also represents an unusual case of second-generation wealth in China, most of whose richest people are self-made entrepreneurs still in their 30s and 40s.
LinkHere
BEIJING — A 26-year-old Ohio State University graduate worth $16.2 billion is mainland China's richest person, the business magazine Forbes said Monday, topping a list of tycoons whose wealth has soared amid a boom in stock and property prices.
The fortune of Yang Huiyan — also Asia's richest woman — is based on shares in Country Garden Holdings, a real estate developer founded by her father, Forbes said. It said the company's Hong Kong stock market debut this year made billionaires of Yang and four other people.
In second place was another developer, Hui Wing Mau, with a net worth of $7.3 billion. No. 3 was Guo Guangchang, chairman of a manufacturing, retailing and real estate conglomerate, with a fortune of $4.85 billion.
Their rise reflects a sharp increase in Chinese real estate prices over the past year despite government efforts to restrain a boom that it worries could ignite a debt crisis or leave the country's poor majority without affordable housing.
Yang also represents an unusual case of second-generation wealth in China, most of whose richest people are self-made entrepreneurs still in their 30s and 40s.
LinkHere
posted by Kangaroo Brisbane Australia at 9:38 PM
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