Hui Ka-yan, 58, chairman of property developer China Evergrande, became China’s richest man – unseating Tencent’s Ma Huateng and Alibaba’s Jack Ma Yun – for a day.
The Henan-born Hui’s wealth advance has been driven by an extraordinary rally in Hong Kong-listed Evergrande’s share price. The country’s largest home builder by sales has seen its shares soar over 480 per cent so far this year, the biggest winner among all the mainland China property stocks listed in Hong Kong.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!