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| Rupert Hoogewerf |
In other China Rich lists the estimated value of real estate, equity and other stocks are more important than cash.
From the Want China Times:
Chen Wenpei of investment firm SCAS Group topped the list with 4.5 billion yuan (US$705 million). Huabao International Holdings' Zu Linyao, nicknamed the "Queen of cashout," followed Chen with 3.5 billion yuan (US$549 million). She has cashed in on 8.5 billion yuan (US$1.49 billion) since her company listed in Hong Kong in 2004. In third place on the list was Kao Xuefong of Jingchengtai Chemical, with 3 billion yuan (US$470 million).
Most of the entrepreneurs on the list cashed their stocks prior to the 2008 financial crisis, as stock prices have since fallen dramatically. On average, they started to cash stocks three years after their companies listed in the stock market, but Bawang Group chairman Chen Qiyuan and CEO Wan Yuhua did so after just 6 months. Cashout yuan billionaires have usually invested their earnings in private equities.
Of those on the list, 23% are female, much higher than the ratio seen on the Hurun Rich List, which measures wealthy Chinese by total assets. The youngest cashout billionaire is 38-year-old Jiang Nanchun who started his own business and cashed 1 billion yuan (US$157 million) last year.More about the new list in the Want China Times and the Shanghai Daily. Rupert Hoogewerf is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch.
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