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/ India News / 2007 / October 2007 / October 9, 2007 Chinas richest person is a 26-year old woman |
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The 26-year-old daughter of a rags-to-riches property developer is now mainland Chinas wealthiest person, with a 16.2 billion dollar fortune.
New Delhi, Oct.9 : The 26-year-old daughter of a rags-to-riches property developer is now mainland China's wealthiest person, with a 16.2 billion dollar fortune.
According to the business magazine Forbes,Yang huiyan is not only China's richest person, but also the richest woman in Asia, after Country Garden Holdings Ltd, the property firm her father founded, floated on the Hong Kong stock exchange in April, creating five billionaires at once.
Yang's low-profile father, Yeung Kwok Keung who is also known as Yang Guoqiang, worked as a farmer and as a worker on construction sites in Guangdong Province before making his fortune.
According to the China Daily, he transferred his stake in Country Garden Holdings Ltd to his daughter in 2005. Yang is one of the few on the list to have inherited her wealth, in a country where booming economic growth has created fortunes virtually overnight.
Country Garden, based in the southern city in Guangdong focuses on building villas, townhouses and large apartments. Yang's father is still chairman and chief executive while she sits on the board as an executive director.
ANI
