2018 sees some extraordinary individual financial success. Last week, we saw Chris Larsen, co-founder of cryptocurrency Ripple, spurted to the fifth richest person in the world, dethroning Mark Zuckerberg on the top 5 spot. On January 5, we see a new champion—Yang Huiyan has become the richest woman in China.
The news came after Bloomberg ranked her on Bloomberg Billionaires Index after a share surge at Country Garden Holdings Co., China’s largest developer by sales. Yang, the vice chairman of the company, has made $2.1 billion (approx. RM8.3 billion) in the first four days of the year, making her the fifth richest person in China and the youngest billionaires in the country.
The 36-year-old tycoon current net-worth stands at $25.6 billion (approx. RM102 billion), not too far behind the third richest Chinaman at $38.2 billion, Hui Ka Yan, who is also a chairman of real estate development company Evergrande Group.
Yang gained her position in the Country Garden through his father (photo), Yang Guoqiang, better known by his Cantonese name Yeung Kwok Keung. His father founded the company in 1992 and transferred his controlling stake to her “due to his intention to train Yang Huiyan as the successor of his family’s interest” in the group, said in its 2007 initial public offering prospectus.
Currently, Yang holds 57% of the company’s shares. Country Garden is among many companies that benefited from China’s property boom in recent years which led to buoyant earnings and soaring sales, especially when the company has the highest property sales in the country.
The company projected 500 billion yuan of sales back in August but on Friday, the results exceeded expectation with over 550.8 billion yuan in sales. On the first day of the year, Country Garden saw a 6.9% increase in share price in Hong Kong trading, achieving a staggering year-to-date-gain to more than 16%.
According to Forbes, Yang got her Bachelor’s Degree in Art / Science at Ohio State University. She married her husband, Chen Chong, in 2006.
The Harbin native also chairs Bright Scholar Education Holdings, the largest institution that runs international and bilingual schools in China. It was listed on the New York Stock Exchange with a $200 million initial public offering (IPO) in 2007.
It’s always nice to see a powerful woman figure. We wish 2018 to see more aspiring women rising to power in boardrooms and other leadership.