Yang Huiyan, Asia's wealthiest woman, has seen her wealth fall to $11 billion from nearly $24 billion this year as China's property crisis escalates, according to the Bloomberg Billionaires Index.
The 41-year-old controls Country Garden Holdings, China's largest real estate developer by sales.
Her stake was largely transferred from her father Yang Guoqiang, who founded the company in Foshan, Guangdong province, in 1992.
Country Garden's stock has lost more than half its value this year, as the country's real estate sector has struggled with falling home prices, weakening buyer demand, and a debt default crisis that has engulfed some of its largest developers since last year.
Despite losing more than half her fortune, Yang remains the richest woman in Asia, according to the Bloomberg Billionaires Index. The plunge in her net worth has narrowed the wealth gap between her and fellow female billionaires in China, making Yang only some $100 million away from being surpassed by Fan Hongwei in wealth. Fan chairs Hengli Petrochemical, a chemical fiber producer.
More at https://shrtcô.de/CNpeIw
The 41-year-old controls Country Garden Holdings, China's largest real estate developer by sales.
Her stake was largely transferred from her father Yang Guoqiang, who founded the company in Foshan, Guangdong province, in 1992.
Country Garden's stock has lost more than half its value this year, as the country's real estate sector has struggled with falling home prices, weakening buyer demand, and a debt default crisis that has engulfed some of its largest developers since last year.
Despite losing more than half her fortune, Yang remains the richest woman in Asia, according to the Bloomberg Billionaires Index. The plunge in her net worth has narrowed the wealth gap between her and fellow female billionaires in China, making Yang only some $100 million away from being surpassed by Fan Hongwei in wealth. Fan chairs Hengli Petrochemical, a chemical fiber producer.
More at https://shrtcô.de/CNpeIw
