| Forbes Asia's richest woman's wedding video |
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Yang Huiyan,China's latest richest woman owns
breath-taking 16,000,000,000 USDs share in
her Hong Kong stock exchange market listed
corporation called Country Garden Holdings
based in Foshan City of Guangdong Province.
China's richest woman is only 25 years old
and actually represent her family to own the
wealth. Her father is the founder and big
boss behind her. Here is her wedding video.
Following is from the reports of Forbes:
http://www.forbes.com/2007/04/24/Yang-China-b
illionaire-face-market-cx_vk_0424autofacescan
01.html
China's Richest, Thanks To An IPO And Dad
HONG KONG - It sounds like a fairy tale. Yang
Huiyan, a 25-year-old woman, has virtually
overnight become the richest person in China,
with a net worth of nearly $9 billion.
Yang owes her great fortune to the initial
public offering of Country Garden Holdings, a
real estate developer run by her father that
posted sharp gains after debuting on the Hong
Kong Stock Exchange last week.
Shares of Guangdong-based Country Garden
surged 35.1% from the issue price of 5.38
Hong Kong dollars (69 cents) to 7.27 Hong
Kong dollars (93 cents) on Friday, following
strong demand from institutional and retail
investors. The shares slipped a modest 5 Hong
Kong cents (1 cent), to 7.22 dollars (92
cents) on Monday.
Having raised $1.7 billion in the initial
public offering in Hong Kong, Country Garden
is now the biggest developer in China, with a
market value of about $15 billion.
Yang's wealth puts her far ahead of Yan
Cheung, chairwoman of Nine Dragons Paper, as
China's richest person. Forbes estimated
Cheung's wealth at $2.4 billion when our
billionaires list appeared in March. Yang
would also have ranked as the world's
second-youngest billionaire, behind Prince
Albert von Thurn und Taxis of Germany, and
she would be the youngest woman on the list.
Country Garden was co-founded by Yang's
father, Yeung Kwok Keung. Her enviable
financial position has more to do with his
accomplishments than hers.
Yang holds a degree in marketing and
logistics from Ohio State University. She
joined the family business in 2005; that
year, her father transferred his shares in
the business to her, with the intention of
grooming his daughter as his successor.
According to Country Garden's offering
prospectus, Yang currently is an executive
director of the company, overseeing
procurement, enterprise resources management
and development strategies.
In a statement on April 10, Country Garden
said that Yang's ownership interest is not
bound by a trust or any other arrangement
with her father or other family members, and
she has the freedom to manage her assets as
she sees fit.
Yang Erzhu, another of the five founders of
Country Garden, has also joined the ranks of
China's billionaires, thanks to the IPO. He
reportedly comes from the same village as
Yeung. His 10.2% stake is worth about $1.5
billion.
The wealth of Yeung and Yang was hard to
track in advance of the Country Garden
offering. The co-founders had shunned the
media, and, until a corporate reorganization
last year, their investments were spread
across more than 30 entities, including real
estate development companies, a theme park,
hotels, a decoration business and a
management concern.
People in Guangdong Province are familiar
with Country Garden, which sold its first
project -- Bi Gui Yuan -- in 1997 in Shunde,
a city on the outskirts of provincial capital
Guangzhou and one of China's richest urban
areas. Over 10 years, the group has
accumulated about 19 million square meters
(7.3 square miles) of land reserves by the
end of January.
Nonetheless, Yeung had managed to maintain
the lowest of low profiles until he showed up
in public for a road show in support of the
IPO last month.
The 52-year-old Yeung was born in an
impoverished village in Shunde, reportedly
never wearing new clothes before he was 17.
He earned a living by raising cattle and
growing crops before becoming a bricklayer
and contractor, according to the Hong Kong
Economic Times.
In 1992, Yeung and several partners built
4,000 houses in a Shunde development. Hit by
a real estate tax implemented to cool down
rising property prices the next year, Yeung
had a hard time in selling the properties. To
solve the crises, he built an international
school inside the villa that eventually
attracted affluent Guangzhou residents to the
houses.
Yeung has a good relationship with the local
government and is currently a member of the
Standing Committee of the People's Political
Consultative Conference in Foshan, one of the
largest cities in Guangdong Province.
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