His net worth rose by roughly $27B since the start of the year due to his more than 70% stake in the company, China’s largest developer based on assets. He is one of the top-three richest men in China, rotating which slot as deals close and stocks fluctuate.
Hui has been called China’s Donald Trump: He likes the finer things in life even if they put him in debt. He has spent billions gobbling up the Guangzhou Evergrande soccer team, an insurance company and a home in Sydney, Australia, that violated foreign purchase rules and had to be vacated.
Even the business model of Evergrande has some wondering how sustainable the company is. It has a mammoth pile of debt that keeps growing. The company’s net debt was $49.3B at the end of 2016, double what it had been at the end of 2015. — Cameron Sperance