Home News Asia’s richest woman loses half her $24 billion fortune due to China’s growing real estate crisis

Asia’s richest woman loses half her $24 billion fortune due to China’s growing real estate crisis

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Yang Yan, the wealthiest woman in Asia, has more than half of her $ 24 billion in wealth over the past year as China’s real estate crisis continues to escalate, buyers are less likely to buy homes and home prices have fallen further. I lost it.

according to Bloomberg Billionaires IndexHoi An, who is tracking the top 500 wealthiest people in the world, currently has a total net worth of $ 11.3 billion, plunging $ 12.4 billion from 2021.

The drop also chairs Hengri Petrochemical, a chemical fiber manufacturer, and headed with Chinese billionaire female Hwang Hong Wei, who was once worth $ 11.2 billion a few miles behind Hoi Yang. I thrust it in. Currently, their gap is only $ 100 million.

In 2018, Hoi An stood just below Wang Jianlin of Wanda Group, the wealthiest Chinese.She had a fortune of $ 28 billion she soared after she earned $ 2.1 billion in the first 4 days Of the new year.

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Hoi An inherited her Huge wealth From her father, Yang Guoqiang, the founder of Country Garden, which started the company in 1992.

The 41-year-old reportedly owns more than half of the Country Garden Holdings that her father gave her in 2005.

The country’s largest real estate developer has lost more than half of its value this year and has succumbed to a debt crisis in which the country’s largest developers are desperately seeking help paying creditors.

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The crisis was exacerbated by thousands of frustrated homebuyers who threatened to stop paying mortgages for their imperfect homes due to construction delays.

Buyers from above last week 100 cities Come with me and withhold payment for their unfinished home.

Huiyan’s company shares only on Wednesday after declaring that they tried to raise $ 361 million by selling new shares at a 13% discount in a desperate attempt to raise more cash It has fallen by nearly $ 2 billion.

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The Real estate sector With about 18-30% of China’s GDP, China is an important part of the country’s economy.

Real estate sales are projected to decline by about one-third this year. However, experts have concluded that this decline is probably twice as bad.

Rating agency S & P released a statement on Tuesday, stating that the company “currently expects to sell state-owned property,” “down 28-33% this year … almost double the previous forecast.” Said.

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