Yang Huiyan is a 2003 graduate of The Ohio State University.
The richest person in China is Yang Huiyan, worth over $16.2 billion, and only 26 years old. Yang is worth so much due to the boom in stock and real estate that is happening in China. She is the majority stockholder of Country Garden Holdings, a property development company which her father started. He had transferred 70% of the companies shares over to her right before its IPO.
On top of only being 26, a billionaire, and the richest person in China, she’s also pretty cute:
Not bad, eh? Too bad she’s married!
Yang Huiyan now sits on the board with an executive director title, and works in the companies logistics activities.
The growth in wealth in China has been very dramatic over just the past year. If you look at the combined net worth of the top 40 richest people, they were worth $38 billion in 2006. Just one year later, that number grew to $120 billion.
Of the top 40, 12 of them are real estate developers. This just goes to show you how fast real estate is on the rise. Unfortunately that is a potential problem for the country:
Their rise reflects a sharp rise in Chinese real estate prices over the past year despite government efforts to restrain a boom that it worries could ignite a debt crisis or leave the country’s poor majority without affordable housing. CNN
By comparison, the youngest American that makes the top 40 list are Sergey Brin and Larry Page, founders of Google and 34 years old. They are both worth $18.5 billion.
Became the Richest Property Dealer in China Again Yang Huiyan
On October 20, 2008 Hurun Property Rich List was issued. The list showed that although the wealth the property riches in China suffered great shrink, their average wealth still exceeded 8.7 billion Yuan (USD 1.24 billion). Yang Huiyan, the largest shareholder of Country Garden became the richest property dealer in China with the wealth of 27.5 billion Yuan (USD 3.93 billion). She was also ranked No.3 in the 2008 Hurun Rich List.
This was the second time that 27-year-old Yang became the richest property dealer in China. Compared with the 130 billion Yuan (USD 18.57 billion), she lost 102.5 billion Yuan (USD 14.64 billion), which was the largest of all the property riches. The global financial crisis and the credit crunch in China resulted in the serious shrink of the Chinese property riches this year.
On day after the issuance of the list, Country Garden declared that Yang Huiyan increased her shareholding of the company. The total amount is 100 million Yuan (USD 14.29 million). This was the third time that Yang increased her shareholding of Country Garden since this April. After being depressed for quite a long time, the Chinese property industry welcomed a favorable macro adjustment by government. Yang’s increase in shareholding showed the large shareholders’ confidence in the outlook of the company and market.
Yang Huiyan has watched her fortune lose more than two-thirds of its value as China's stock markets plummeted along with those in the west. But such is the scale of the 26-year-old heiress's wealth, that she is still the third richest person in China and remains Asia's wealthiest woman.
The fortunes of China's super-rich have diminished on average by 22 per cent since last year, according to the annual Hurun Report on the 1000 richest people in China, published last week. Mrs Yang Huiyan, though, has suffered more than most. Her 70 per cent stake in the property company founded by her father was worth more than £8 billion in October 2007; now it has shrunk to below £3 billion.
Yang Huiyan is one of China's 101 billionaires, but is one of the very few who isn't self-made. Mrs Yang was unknown until early last year, when her father Yang Guoqiang transferred the majority of his shares in his company Country Garden Holdings to her, just before the company went public in Hong Kong. She was instantly elevated to celebrity status in China and video of her opulent 2006 wedding ceremony was leaked to the internet.
But little is known about her or her publicity-shy father. Mr Yang was a rice farmer and part-time bricklayer in Shunde in southern China's Guangdong Province, until he started buying up and developing vacant lots of land. He founded his company in 1997 and seems to have groomed Mrs Yang, the second of his three daughters, to play a part in the family business from an early age.
By the time she was a teenager, she was attending board meetings. Like most children of the rich in China, she went to university overseas, graduating from Ohio State University in the US in 2003. In late 2006, she married the son of a top official from the north-east after meeting him on a blind date.
Now, Yang Huiyan sits on Country Garden's board and works in the company's logistics division.
But her status as the country's richest female hasn't made her a heroine for Chinese women. The fact that she inherited her fortune means most regard her simply as a very lucky woman with a very rich father.