Bloomberg Billionaires Index

View profiles for each of the world’s 500 richest people, see the biggest movers, and compare fortunes or track returns.

#31 Hui Ka Yan $23.5B

Random fact: Plans to introduce a Harvard University-related hospital to China.

Overview

Hui is the chairman and largest shareholder of China Evergrande Group, a property developer that's built more than 500 projects in 180 Chinese cities. The Guangzhou-based company has became China's biggest property developer in 2016 based on sales volume and had revenue of 211.4 billion yuan ($31.8 billion) in 2016.

As of July 21, 2017:
Last change -$24.3M (-0.1%)
YTD change +$16.1B (+218.2%)
Industry Real Estate
Biggest asset 3333 HK Equity
Citizenship China
Age 58
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Hui Ka Yan's net worth of $23.5B can buy ...

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of U.S. existing home sales
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Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

The majority of Hui's fortune is derived from his 74 percent stake in China Evergrande Group, a property developer with revenue of 211.4 billion yuan ($31.8 billion) in 2016, according to Bloomberg data. Hui holds the shares through a British Virgin Islands entity, Xin Xin (BVI), and through his wife, according to a May 5, 2017 Hong Kong stock exchange filing. Hui is credited with his wife's shares to reflect his status as founder. The company became China's biggest property developer in 2016, according to its Oct. 10, 2016 press release.

The value of his cash investments is based on an analysis of dividend income, insider transactions, taxes and market performance.

Guo Yunnan, an Evergrande spokeswoman, declined to comment on Hui's net worth.

Biography

Birthdate: 1958
Family: Married, No children
Education: 1982, Bachelor's Degree, Wuhan University of Science & Technology

Hui, also known as Xu Jiayin in Mandarin Chinese, was born into a veteran's family in Henan province on Oct. 9, 1958. After losing his mother when he was eight months old, Hui was raised by his grandmother, who sold homemade vinegar, and his father, who cut wood for a living. His dad was barely able to afford to send his son to school. Adversities in life strengthened Hui's belief that "knowledge will change destiny," according to his company's website.

Hui was one of China's first college students in 1978, after the end of Mao Zedong's Cultural Revolution. Upon graduation, he was assigned to a job at a state-owned steel company in his home province. At the time, workers like him received a lifetime guarantee of work in China, in what came to be known as the "iron rice bowl." In the next decade, Hui rose from technician to department head and eventually to manager.

Encouraged by the prospect of late paramount leader Deng Xiaoping's economic reforms plan, Hui quit his job in 1992 and headed south to Shenzhen, China's first special economic zone, where he entered the real estate market. Five years later, Hui founded Evergrande and had early success developing property in Guangzhou, the capital city of southeastern Guangdong province.

The company sold a 50 percent stake of its soccer club to billionaire Jack Ma's Alibaba Group for about $196 million, the two companies announced in June 2014. The team has won five straight Chinese league titles between 2011 and 2015 as well as the 2013 Asian Champions League in 2013 under the direction of Italian coach Marcello Lippi.

Evergrande agreed to sell its 14.1 percent stake in China Vanke Co. for about $4.3 billion in June 2017. The deal will help the company reduce debt, according to a Bloomberg News report.

The billionaire also holds an honorary doctorate degree from the University of West Alabama.

Milestones
  • 1958 Born to a poor family in central China's Henan province.
  • 1978 Enrolls at the Wuhan University of Science and Technology.
  • 1992 Quits his job as steel plant manager and moves to Shenzhen.
  • 1996 Founds Evergrande in Guangzhou with a handful of staff.
  • 1999 Evergrande becomes one of 10 largest developers in Guangzhou.
  • 2008 Becomes a delegate to Chinese government's top advisory body.
  • 2009 Hong King initial public offering for Evergrande.
  • 2010 Acquires a professional men's soccer team in China's top league.
  • 2011 Movie and music business started at Evergrande.
  • 2014 Alibaba buys 50 percent of Evergrande's soccer club for $192 million.