Yang Huiyan (simplified Chinese: 杨惠妍; traditional Chinese: 楊惠妍; pinyin: Yáng Huìyán; born 1981) is a Chinese-born billionaire businesswoman and property developer.[1] She is the chairman and the majority shareholder of Country Garden Holdings,[2][3] a stake largely transferred to her by her father Yang Guoqiang in 2007. Previously the richest woman in Asia, her net worth is around $5.5 billion as of August 2023, according to the Bloomberg Billionaires Index.

Yang Huiyan
杨惠妍
Born
Yang Huiyan

1981 (age 42–43)
Citizenship
  • China (till 2018)
  • Cyprus (2018–present)[1]
Alma materOhio State University
Occupation(s)Chairman and majority shareholder (55%), Country Garden Holdings
Known forRichest Woman in Asia
Spouse
Chen Chong
(m. 2006)
ParentYang Guoqiang (father)

Personal life edit

Yang is a 2003 graduate of Bachelor of Arts/Science, Ohio State University where she was a member of The National Society of Collegiate Scholars (NSCS).[4][5]

According to leaked documents known as "The Cyprus Papers",[6] Yang obtained Cypriot citizenship in 2018, though China does not recognize dual nationality.[7] As of October 2020, Yang's passport status remains uncertain, following the Cyprus governments suspension of the passport scheme.[8] In June 2022, she was recognized by the International Hospitality Institute on the Global 100 in Hospitality, a list featuring the 100 Most Powerful People in Global Hospitality.[9]

Business career edit

Her father Yang Guoqiang started the real estate company Country Garden in 1997 and transferred 70% of Country Garden's shares to her before its IPO in 2007.[10] Country Garden's initial offering raised about $1.6 billion, or as much as Google raised in 2004 in the United States.[11] As of August 2021, Yang had a net worth of US$27.3 billion.[12][5] Yang is vice chairman of the board's governance committee and helped raise $410 million selling new shares in 2014, according to Forbes.[13]

In February, 2023, due to age reasons, Yang Guoqiang resigned from the position of chairman of the board of Country Garden. The position of chairman was succeeded by Yang Huiyan.[14]

Yang was previously the richest woman in Asia.[13][15] However, due to the 2020–2023 Chinese property sector crisis, she lost a total of $28.6 billion since 2021, leaving her net worth at $5.5 billion as of August 2023, according to the Bloomberg Billionaires Index.[16]

Social activity edit

In 2023, Yang Huiyan donated approximately 55% of her personal stake in the property management firm, valued at around US$826 million, to a charity founded by her younger sister.[17] This philanthropic move comes as the company grapples with China's real estate crisis, and Yang's fortune has declined by 80% in the past two years.[18] Despite the donation, she will retain control of over 36% of the shares through voting rights. The Guoqiang Foundation Hong Kong, the recipient of the donation, has committed not to sell the shares for the next decade, with the proceeds intended to support various charitable causes in Hong Kong, the Greater Bay Area, and mainland China.[19]

References edit

  1. ^ a b "Asia's richest woman named in leaked Cyprus migration documents". South China Morning Post. August 25, 2020.
  2. ^ "China's Richest Woman Just Made $2 Billion in 4 Days". Fortune.
  3. ^ "China's 100 Richest 2015: Wang Jianlin Regains Top Spot". Forbes.com. Retrieved 2017-03-21.
  4. ^ "#125 Yang Huiyan". Forbes.com. 2008-02-11. Archived from the original on March 9, 2008. Retrieved 2017-03-21.
  5. ^ a b "Yang Huiyan". Forbes. Retrieved September 29, 2020.
  6. ^ Al Jazeera Investigative Unit (24 August 2020). "Exclusive: Cyprus sold passports to 'politically exposed persons'". Al Jazeera. Retrieved 26 August 2020.
  7. ^ Zhou Xin (25 August 2020). "Cyprus Papers: secret migration of China's rich, led by Asia's richest woman, revealed in leaked documents". South China Morning Post. Retrieved 26 August 2020.
  8. ^ Dawkins, David (15 October 2020). "Billionaires Worth Over $35 Billion Could Be Locked Out Of Europe As Cyprus Finally Suspends 'Golden Passport' Schemes". Forbes. Retrieved 8 February 2022.
  9. ^ Mix, Pulse (2022-08-01). "Dr Jeffrey Obomeghie and Dupe Olusola among the 100 most powerful people in global hospitality". Pulse Nigeria. Retrieved 2022-08-03.
  10. ^ Sorry bachelors - richest Chinese woman married, China Daily, April 29, 2007.
  11. ^ "China adds billionaires with IPO". Chinadaily.com.cn. Retrieved 2017-03-21.
  12. ^ "Country Garden founder Yeung resigns, succeeded by daughter Yang Huiyan". South China Morning Post. 2023-03-01. Retrieved 2023-08-11.
  13. ^ a b "richest woman in the world". CNN. January 16, 2015. Retrieved January 17, 2015.
  14. ^ "Country Garden founder Yeung resigns, succeeded by daughter Yang Huiyan". South China Morning Post. 2023-03-01. Retrieved 2023-09-02.
  15. ^ "China Rich List". Forbes. Retrieved 2020-11-23.
  16. ^ "Once Asia's Richest Woman, China Property Tycoon Loses More Wealth Than Any Billionaire". Bloomberg News. 2023-08-09. Retrieved 2023-08-25.
  17. ^ "One of China's richest women Yang Huiyan has just given away around $826 million to charity". Fortune. Retrieved 2023-09-02.
  18. ^ "Yang Huiyan & family". Forbes. Retrieved 2023-09-02.
  19. ^ "Asia's former richest woman—now property mogul—Yang Huiyan has given 55% of her company to charity, a payout worth $826 million". Yahoo Finance. 2023-08-01. Retrieved 2023-09-02.