Bloomberg Billionaires Index

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#316 Hui Wing Mau $5.32B

Random fact: Parents were doctors specializing in traditional Chinese medicine.

Overview

Hui is chairman and largest shareholder of Shimao Property Holdings, a Shanghai-based developer of luxury homes, offices and hotels. The publicly traded company built the 1,100-foot International Plaza tower in Shanghai and the 3 million-square-foot Olive Garden development in Beijing. Shimao had revenue of $8.9 billion in 2016.

As of July 24, 2017:
Last change -$57.9M (-1.1%)
YTD change +$1.34B (+33.7%)
Industry Real Estate
Biggest asset 813 HK Equity
Citizenship Hong Kong
Age 66
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Hui Wing Mau's net worth of $5.32B 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
0%
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 Hui's fortune is derived from his 67 percent stake in Shimao Property, the Shanghai-based high-end real estate developer he founded in 2001. Hui holds his stake through two British Virgin Islands-based holding companies, Gemfair Investments and Shiying Finance, according to its 2016 annual report.

The value of his cash holdings is based on an analysis of dividends, insider transactions, taxes and market performance.

James Yu, a spokesman at Shimao, declined to comment on the billionaire's holdings in the company in July 2017.

Biography

Birthdate: 1950
Family: Married, 2 children
Education: University of South Australia, MBA

Hui Wing Mau was born in China's eastern Fujian province in 1950, one year after the Communist Party seized control. His parents were doctors who practiced traditional Chinese medicine. Like many people in Fujian, the family moved to Hong Kong in the 1970s. Hui, who didn't speak Hong Kong's local dialect Cantonese, switched jobs from an errand boy at a medicine shop to working in factories. He became a stockbroker during Hong Kong's bull market in the early 1980s.

As China embarked on economic reforms, Hui shifted his focus to textile and apparel manufacturing in Hong Kong and China, and began developing real estate in 1989. During the next two decades, he expanded his property company, Shimao, into a national builder, known for some of its high-end luxury residential complexes, such as Shimao Riviera Garden in Lujiazui, Shanghai's affluent financial district.

His son, Hui Sai Tan "Jason," serves as Shimao's vice chairman, and daughter Xu Weiwei "Carol" is the president of Shanghai Shimao.

Milestones
  • 1950 Hui Wing Mau is born in Fujian province in eastern China.
  • 1989 Starts real estate development business in hometown Fujian.
  • 2001 Changed company's name from Wanxiang Group to Shimao Property.
  • 2001 Expands business from residential to commercial in Shanghai.
  • 2004 Taps into the less developed Heilongjiang province in China.
  • 2007 Shimao Property injects commercial property assets to Shanghai Shimao.
  • 2008 Subsidiary Shanghai Shimao becomes a public company.
  • 2011 Property company raises $350 million by bonds issuance.