Ever­grande chair­man be­comes rich­est per­son in China

China Daily (Canada) - - NEWS CAPSULE -

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)

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