Evergrande chairman becomes richest person in China
With personal wealth of $36.7 billion, Xu Jiayin (Hui Ka Yan), chairman of real estate developer Guangzhou Evergrande Group, has become the richest man in China.
Hui’s fortune puts him ahead of Alibaba chairman Jack Ma ($35.4 billion) and Tencent founder Pony Ma Huateng ($35.3 billion), according to the Forbes Real-Time Billionaires List.
China’s three richest men currently rank respectively 20th, 21st and 22nd in global ranking.
It’s attributed to changes in share price, China Securities Journal reported. Shares of Evergrande continued to rise over the past month. On the other hand, shares of Alibaba and Tencent tumbled, dragged down by global tech stocks.
As nearly half of the wealth in the Billionaires List come from technology companies, the tumble of tech shares could reshuffle the rankings. (Photo 2)