Bloomberg Billionaires Index

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#286 Vivien Chen $5.93B

Random fact: Chen's father, Chen Din-hwa, started Nan Fung as a textile maker.

Overview

Chen is chairwoman of closely held real estate developer Nan Fung Group. The Hong Kong-based company has built more than 130 residential and commercial properties in China, including Hong Kong's Asia Trade Centre and the Octa Tower in Kowloon. The development company also has projects in the U.S., Germany, Japan and Malaysia.

As of Dec. 16, 2017:
Last change -$103M (-1.7%)
YTD change +$320M (+5.7%)
Industry Real Estate
Biggest asset Nan Fung Group
Citizenship Hong Kong
Age 56
Wealth Inherited
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Vivien Chen's net worth of $5.93B can buy ...

0
troy ounces of gold
0
barrels of crude oil

... and is equivalent to ...

0%
of the GDP of the United States
0%
of the total wealth of the 500 richest people in the world
0%
of the top 100 U.S. college endowments
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of the top 200 U.S. executives’ total awarded compensation
0%
of U.S. existing home sales
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times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

The majority of Chen's wealth is derived from Nan Fung Group, a closely held property developer founded by her late father, Dr Chen Din Hwa. The Hong Kong-based company reported revenue of $799 million in the year to March 31, 2017. Vivien's credited with 100 percent ownership of Nan Fung Group because she took over control of the company after her father was diagnosed with Alzheimer's disease in 2009.

The property developer's valuation is based on the average price-to-book multiples of four publicly traded peer companies: Sun Hung Kai Properties, Sino Land, Henderson Land and New World Development.

The billionaire's mother filed a lawsuit against her daughter in 2010, claiming Vivien had misinterpreted the arrangement for the distribution of the late Chen's assets, according to lawsuit documents. A liability is included in this analysis to reflect real estate transactions, taxes and legal obligations associated with a 2016 court judgement.

Nelson Tang, Nan Fung's financial director, declined to comment on Chen's wealth.

Biography

Birthdate:
Family: Divorced, No children

Vivien Chen's father, Chen Din-hwa, founded Nan Fung Textiles in 1954, five years after he immigrated to Hong Kong from Shanghai as the Communist Party took control of China. The cotton-yarn maker established itself in the 1950s as Hong Kong became a manufacturing hub in Asia, earning him the sobriquet The King of Cotton Yarn.

Nan Fung entered Hong Kong's property market in the 1960s, the same time as other Hong Kong billionaires such as Li Ka-shing, Lee Shau-kee and Cheng Yu-Tung. Its first project, Nan Fung Sun Chuen, was built on a site in Quarry Bay purchased from British firm John Swire and Sons. Nan Fung later became a key developer in Hong Kong.

Vivien, whose Cantonese name is Chen Wai Wai, joined the company in 1981 after attending a design school in San Francisco. As one of only two children, Vivien took over control of Nan Fung after her father was diagnosed with Alzheimer's disease in 2009. The patriarch died of dementia and prostate cancer in 2012.

In December 2010, Vivien's mother, Yang Foo-oi, sued her over a trust fund, alleging the younger daughter had misled Chen into transferring his assets, according to the Hong Kong Standard. The case hasn't been resolved. Vivien's sister Angela also failed in legally removing her as the boss of Nan Fung, the newspaper said.

Milestones
  • 1949 Family moves to Hong Kong from Shanghai.
  • 1954 Father sets up a cotton-yarn maker Nan Fung Mill in Hong Kong.
  • 1965 First Nan Fung property development completed in Hong Kong.
  • 1970 Company sells shares to the public on Hong Kong's stock exchange.
  • 1981 Joins Nan Fung Group after attending a design school in the U.S.
  • 1989 Nan Fung taken private by her father.
  • 2006 Teams with HSBC to set up a fund to develop property in China.
  • 2009 Takes over Nan Fung after father is diagnosed with Alzheimer's.
  • 2012 Sells $600 million in bonds on the Singapore Stock Exchange.
  • 2013 Agrees to buy a stake in Singapore-listed property developer Forterra Trust.