A share spike in Country Garden Holdings Co., China’s largest developer by sales, has sent Vice Chairman Yang Huiyan’s wealth up by $2.1 billion — and that’s only in the first four trading days of this year.
Yang, controlling shareholder of Country Garden, saw her luck soar to $25.6 billion as of Jan. 5 to standing as the fifth-richest person in the country, according to the Bloomberg Billionaires Index. That’s before Nation Garden’s shares rose another 7.4 percent on Monday in Hong Kong trading, taking its year-to-date-gain to 17 percent.
The 36-year-old Yang is China’s richest woman and the nation’s youngest billionaire, according to the Bloomberg index. In 2005, her dad transferred his controlling stake to her#x201C;thanks to his intention to train Yang Huiyan because the successor of his loved ones’s attention” at the group, Country Garden said in its 2007 initial public offering prospectus.
Her dad Yang Guoqiang, usually referred by his Cantonese name Yeung Kwok Keung, co-founded Country Garden in 1992.
Country Garden has been one of the beneficiaries of a boom in China’s home market, which has resulted in buoyant earnings and slumping sales, especially for the country’s largest programmers. The business reported preliminary 2017 contracted sales of 550.8 billion yuan ($85 billion) on Friday, exceeding the 500 billion yuan goal it provided in August.
Chinese programmers such as China Evergrande Group also have rallied in Hong Kong trading, boosting the fortunes of the own executives. Evergrande’s Hui Ka Yan, whose wealth is estimated at $38.2 billion by the Bloomberg Billionaires Index, is China’s third-richest person after Alibaba’s Jack Ma and Tencent’s Pony Ma.