The state of Yang Huayan, the main shareholder of the Chinese real estate giant Country Garden, has decreased by 52% and now amounts to $ 11.3 billion. Bloomberg Billionaires Index.
The richest woman in Asia has lost more than half of her condition over the past year. The reason for this is the crisis that covered the real estate sphere in China and continues to aggravate.
Young Juayan inherited the fortune in 2005 from the father, founder of Country Garden, who is now one of the largest real estate operators in China. On Wednesday, July 27, Country Garden shares fell by 15% after the company announced that it would sell new shares to attract funds.
Sales from the sale will be used to “refinance existing offshore debt, general working capital and future development,” the Country Garden statement on the Hong Kong stock exchange said.