This Chinese billionaire has lost over 90% of his fortune
The past few years have not been great for the super-rich in China, particularly those who built their fortune in the country’s once red-hot property market. The net worth of Hui Ka Yan, chairman of real estate developer China Evergrande, has plunged nearly 93%, according to the Bloomberg Billionaires Index. Once the second-richest person in Asia, Hui’s wealth has fallen from $42 billion at its peak in 2017 to about $3 billion, Bloomberg said.
But that was far from enough and Evergrande defaulted on its US dollar bonds in December 2021 after scrambling for months to raise cash to repay creditors, suppliers and investors. Last year, the firm failed to deliver its preliminary debt restructuring plan, leading to further concerns about its future. Evergrande is massive: It has about 200,000 employees, raked in more than $110 billion in sales in 2020 and owns more than 1,300 developments in more than 280 cities.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
2024 Mazda CX-90 confirmed with 340-hp turbo-6Mazda's CX-90 three-row SUV is coming soon with the automaker's most powerful production engine.
Weiterlesen »
2024 Mazda CX-90: another teaser ahead of debut | Car News | Auto123The 2024 Mazda CX-90 has been teased again ahead of the new SUV’s unveiling, scheduled for the end of January. Auto123 has the info.
Weiterlesen »
Mazda CX-90 2024 : un autre aperçu | Actualités automobile | Auto123Mazda CX-90 2024 : Mazda donne un autre aperçu de son prochain VUS avant le dévoilement prévu fin janvier. Auto123 a les infos.
Weiterlesen »
2024 Alfa Romeo Tonale, 2024 Mazda CX-90: Car News HeadlinesAlfa Romeo's compact crossover, Mazda's upmarket move, and updates to the 911 all made headlines today.
Weiterlesen »
That 90's Show Star Felt The Strong Support From The Legacy CastThat90sShow star Callie Haverda felt strong support from That70sShow's legacy cast, including her onscreen parents Topher Grace & Laura Prepon: 'It was a really great experience.'
Weiterlesen »
How AS-90 self-propelled artillery will be used by Ukraine against RussiaThe military aid destined for Ukraine is all designed to function together, former U.S. Army Europe Lieutenant General Ben Hodges told Newsweek.
Weiterlesen »