Hui Ka Yan Biography
Hui Ka Yan is the chairman of Evergrande Group, a Chinese real estate developer, and a Chinese billionaire. Hui is China Evergrande Group’s largest shareholder, owning nearly 60% of the company’s stock as of December 2021.
How old is Hui Ka Yan? – Age
He is 63 years old as of 9 October 2021. He was born in 1958 in Taikang County, Zhoukou, China.
Hui Ka Yan Family – Education
He was born into a rural family in Jutaigang Village, Gaoxian Township, Taikang County, Henan. His father served in the Second Sino-Japanese War in the 1930s and 1940s and is now retired. He became a warehouseman in his hometown after the communist state was established. When Xu was eight months old, his mother died of sepsis. His paternal grandmother raised him. He worked for a few days after high school in a cement production factory before returning home to work for two years.
He was in charge of the production team. Xu was accepted to the Wuhan Institute of Iron and Steel (now Wuhan University of Science and Technology) in 1978 after retaking the college entrance exam. He served as commissary in charge of hygiene in his class.
Hui Ka Yan Wife
He is married to Ding Yumei (Chinese: ), whom he met at Wuyang Iron and Steel Company (Chinese: ). The couple lives in Guangzhou with their two children.
Hui Ka Yan Career
After graduating from university in 1982, Xu was hired by Wuyang Iron and Steel Company (Chinese: ), where he rose through the ranks to associate director in 1983 and director in 1985. Xu was the director there for seven years. He moved to Shenzhen, a newly established special economic zone in southeast China’s Guangdong province, after resigning in 1992. A trading company called “Zhongda” (Chinese: ) accepted him. He became president of the company’s “Quanda” (Chinese: ) branch office a year later. Xu moved to Guangzhou, the capital of Guangdong province, on October 1, 1994, to start the Guangzhou Pengda Industrial Co., Ltd. (Chinese: ).
After an unsuccessful negotiation with the society’s boss in May 1996, Xu Jiayin left Zhongda Group with a monthly salary of 2000 yuan. He founded the Evergrande Group in March 1997 and served as its chairman of the board. As of 2016, Xu is the owner of Guangzhou Evergrande, one of China’s most successful football clubs. Xu announced a three-year investment in electric vehicles worth $6.4 billion in 2019.
His fortune was estimated to be $45.3 billion at its peak in 2017, and Forbes ranked Xu third among the wealthiest Chinese billionaires in 2020. However, due to mounting debts, which were exacerbated by the coronavirus pandemic, his wealth was estimated to have dropped by more than $20 billion to $21.8 billion from 2017 to 2020. In the autumn of 2021, the Hurun China Rich List estimated his personal fortune to be around $11.3 billion. However, his net worth had dropped to $6.2 billion by 13 December 2021, according to the Bloomberg Billionaires Index, after losing $17.2 billion over the year, owing in part to the sale of personal assets during the Evergrande liquidity crisis.
Hui Ka Yan Net Worth
Hui is China Evergrande Group’s largest shareholder, owning nearly 60% of the company’s stock as of December 2021. Evergrande Real Estate Group made RMB 450 billion (the US $69.5 billion) in sales in 2017. Based on sales volume, the Guangzhou-based firm was China’s largest property developer in 2016, with a revenue of 211.4 billion yuan (US$31.8 billion).
According to the Bloomberg Billionaires Index, Xu has a net worth of $6.2 billion as of December 2021, making him the 462nd wealthiest person on the planet, down from a peak of $45.3 billion in 2017.
