A US$100b REIT rout pulverises family fortunes across Asia


Thailand’s richest person, Charoen Sirivadhanabhakdi, who controls retail and real estate conglomerate TCC Group, has lost $7.5 billion this year from his fortune and is now worth about $12.1 billion

THE Tangs are a classic Singapore power couple. Gordon, a former professional windsurfer and avid sailor, and his wife Celine moved from China in the 1990s, founded trading firm Tang Dynasty and then established a real estate empire.

Their SingHaiyi Group Ltd. invests in commercial and residential properties in the island state and has expanded to the U.S. and Australia. Neil Bush, brother of former U.S. President George W. Bush, is on the board, where Celine serves as group managing director.

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