Huang Guangyu Tops Chinese Billionaire’s List
Huang Guangyu is # 1 on China's billionaire's list.…the 2007 Hurun Cashout Ric.
A cashout refers to cash on hand…money in the bank…not just financial assets.
Huang has cashed out on investments totaling $1.25 billion.
The 38-year old founded Gome Electrical Appliances Holdings and owns a bunch of real estate.
2nd on the list – Rong Zhijian, owner of CITIC Pacific in Hong Kong…Y about $800 million.
China's richest woman, Yang Huiyan was eighth.
China has 17 billionaries -
seven from the IT industry
four from the retail industry
three from the real estate market
and three from the chemical, logistics, and composite industries.
The number one dude…will spend $500 million on a retail industry investment and $800 million on real estate in big Chinese cities.
Guys with $800 million to spend on real estate speculation…no wonder the little people have no chance.
What would you do with $1.25 billion in cash?
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