Property tycoons are the real cash kings – Rupert Hoogewerf

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Rupert Hoogewerf

Rupert Hoogewerf

Beijing rich does not always mean having a lot of cash at hand, unless your are one of the bigger property tycoons in China, says China Rich List founder Rupert Hoogewerf in the Hong Kong Standard. “I am interested to know how they are going to spend the money.”

The Hong Kong Standard:

Evergrande Real Estate Group chairman Xu Jiayin and Shimao Property founder Xu Rongmao are among the top five Chinese billionaires who cashed in the most from last July to this August.

The first netted 4.3 billion yuan (HK$5.26 billion) and the latter 3.7 billion. The top 30 mainland tycoons made 86 billion yuan either by selling shares or receiving dividends, more than double the year before, the Hurun Cash Out Rich List revealed.

Apparently their wealth was not affected by the stock slump this year.Hopson Development founder Zhu Mengyi and his family is ranked top by selling a stake in Shanghai Electric Group for 8.2 billion yuan.

Hurun Report chairman Rupert Hoogewerf said those on the list were the real rich people in China as they hold cash. “I am interested to know how they are going to spend the money.”

More in the Hong Kong Standard.

Rupert Hoogewerf is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers´ request form.

Are you looking for more stories by Rupert Hoogewerf? Do check out this list.