Asia’s richest woman loses $28 billion of her wealth in two ‎years

Yang Huiyan, chairwoman of the real estate giant Country Garden and one of the richest women in China, has lost $28.6 billion, equivalent to 84% of her net worth, since June 2021.

According to the “Bloomberg” news agency, it described the loss of Huiyan as the largest compared to any billionaire in the world in the past two years, as its giant conglomerate is on the brink of default.

Huiyan’s net worth is currently $5.5 billion, which is the biggest dollar drop for the world’s richest people over that period, which puts her at 475th in Bloomberg’s ranking. It lost 490 million dollars on Tuesday alone, according to the index

Reports on Tuesday said Country Garden, once China’s largest developer, had not made interest payments on US dollar-denominated bonds, spooking investors as China’s sinking real estate sector took another hit. As a result, shares of the construction giant fell 16% in Hong Kong

It is worth noting that Yang Huiyan, born in 1981, is the main shareholder in the family-owned Country Garden Company and was the fifth richest person in mainland China. And the youngest billionaire, in addition to being the richest woman in Asia, before her wealth declined at an accelerated rate.