Tag Archives: real estate

Real Estate Taipan Xu Jiayin Became the Richest Man in China

Rreal estate taipan Xu Jiayin ‘crowned’ as the richest man in China. According to Hurun’s list, Evergrande’s founder of his fortune soared to US $ 43 billion.

Xu, which owns more than 70 percent of Evergrande’s shares, enjoys a gain of more than 450 percent since the start of 2017. The price of property in China continues to rise despite the government’s efforts to ‘cool’ the price.

The man born October 9, 1958 was not the only real estate tycoon who profited from the explosion of property prices this year.

A 36-year-old woman who is the heir of Country Garden, Yang Huiyan, her fortune triple to reach US $ 24 billion. The richest woman in China, ranked fourth in the list of Hurun.

Xu, also known as Hui Ka Yan, shifts the position of real estate tycoon and entertainment Wang Jianlin. Wang who is the owner of Dalian Wanda, was forced to fall to fifth position after his wealth was reduced by 30 percent.

Wang, a longtime player in Chinese real estate, expanded his empire abroad and tried a number of areas, ranging from AMC Entertainment (AMC) movie network, Hollywood Legendary Entertainment studio, and Spanish football club Atletico Madrid.

The overseas business of the tycoon was forced to be dismissed this year as the Bamboo Curtain Government banned any cash transactions outside of China. A number of state-owned banks were also ordered to stop financing Wanda’s foreign transactions.

Wang, who once promised to destroy Disney in China, was forced to sell Wanda’s amusement park business for US $ 9.3 billion at the beginning of 2017. It aims to reduce the debt burden of the company.

In addition to real estate, China’s tech industry dominates the top 10 lists of China’s richest people of Hurun version.

The founder of social media giant Tencent, Pony Ma, climbed to second place. His fortune rose more than 50 percent to US $ 37 billion after the company’s stock price soared.

Meanwhile Alibaba founder Jack Ma slumped to third with a fortune of US $ 30 billion. It happened after Ma reduced her stake in Alibaba’s subsidiary, Ant Financial, which was actually profitable.

Founder of Chinese search engine Baidu, and electric car manufacturer Geely also made it into the top 10.

Arrested For Alleged Corruption, It’s Prince Alwaleed’s Business

A total of 11 princes including Alwaleed bin Talal and four serving ministers were arrested by the Saudi Anti-Corruption Committee. The arrests were made in connection with alleged involvement in corruption cases.

Alwaleed is the son of Prince Talal bin Saud, the direct grandson of the late King Abdulaziz bin Saud who established the Kingdom of Saudi Arabia. So Alwaleed is the nephew of King Salman who is currently in power.

His father Alwaleed, Prince Talal, was a controversial member of the royal family and was exiled when there was reform in the Saudi Arabian family.

Alwaleed was educated at Menlo College, California, United States (US) before establishing Kingdom Holding Company (KHC). The man who was married-divorced three times this became a business graduate in 1979, then returned home and pioneered his own business.

The first business he did was in the property sector, through the sale of land. Gradually he began to spread his wings while diversifying his business to other sectors.

His expertise in investing made Alwaleed earned the nickname Warren Buffet from the Middle East. Because, in the midst of a boom in oil prices in the 1970s to the 1980s, Alwaleed opted to do business in other sectors and was keen to see investment opportunities.

Also read: When King Salman Great Investment in China and Buy Russian Weapons

The ex-husband of Ameera Al-Taweel also succeeded in reforming the Saudi Commercial Bank which will go bankrupt as the number one bank in the Middle East after being merged with Saudi Cairo Bank and SAMBA.

Alwaleed is also most keen to buy stocks of famous companies, such as Twitter to Apple. Quoted from the official site of Kingdom Holding, Tuesday (28/2/2017), the following investment portfolio:

Sector of Financial Services and Investment
– Citigroup

Property
– Jeddah Economic Company Ltd
– Kingdom Riyadh Land
– Kingdom Center
– Real Estate Investment Company (REIC)
– Canary Wharf (Songbird Estates PLC)
– Ballast Nedam

Education
– Kingdom Schools Company

Hotel
– Kingdom Hotel Investments, owner of The Four Seasons, Fairmont, Raffles, Swissôtel, and Mövenpick.

Health
– Kingdom Hospital
– Riyadh Consulting Clinics

Airline
– National Private Air Transport Services Company LLC (NAS Saudi Arabia)

Petrochemicals
– National Industrialization Company (TASNEE)

Media and Publications
– News Corporation
– TimeWarner

Entertainment
– Euro Disney S.C.A

Fund and Investment Manager
– Kingdom Africa Management (KAM)

Agriculture
– Kingdom Agricultural Development Company (KADCO)

Consumer and Retail
– Jingdong
– Saks Incorporated
– Fashion Village Trading Company
– Savola Group
– eBay

Social Media and Technology
– Twitter
– Aol
– Apple
– Motorola