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Asia Has New Richest Woman as Property Crisis Reshapes Fortunes

India’s Savitri Jindal overtook Chinese real estate billionaire Yang Huiyan atop the wealth rankings as the country’s developers reel from a mortgage boycott.

Savitri Jindal

Savitri Jindal

Photographer: Rajkumar/Mint/Getty Images

Updated on

Yang Huiyan is no longer Asia’s richest woman as China’s property crisis hammers the nation’s developers, including her Country Garden Holdings Co.

Yang on Friday was surpassed in the Bloomberg Billionaires Index by India’s Savitri Jindal, who has an $11.3 billion fortune thanks to her conglomerate Jindal Group, which is involved in industries including metals and power generation. She also slipped below fellow Chinese tycoon Fan Hongwei, whose wealth derives from chemical-fiber company Hengli Petrochemical Co.