Earning about $22 billion in just over a half-year is not available to many of the world’s investors. Not even among the great fortunes of the planet. In fact, this year is only in the hands of some privileged, such as Mark Zuckerberg – president and founder of Facebook – or as Hui Ka Yan, the fashion man in China.
From his hand, has grown in Guangzhou (in the south of Guangdong Province) Evergrande Group, one of the largest real estate developers in the country. The company, whose creation dates back more than two decades, is one of the companies that has grown the most in recent years, achieving more than 500 projects in 180 cities of the Asian giant.
On the stock exchange, its shares have multiplied their price by 7 since January 2014. And in the United States, in the OTC market, its shares have risen 688% in the same period.
In recent years, China has created dozens of new cities as part of a massive urbanization campaign. Not in vain, hundreds of millions of people have moved from the countryside to the city. A movement that has managed to take advantage of Hui Ka Yan, whose fortune has been raised to 29 billion dollars. Wang Jianlin, owner of the company Wanda and part of Atletico Madrid, although still far behind from the nearly $47 billion of Jack Ma, founder and CEO of Alibaba Group, who is currently the richest man in China.
Be that as it may, more than a third of all analysts who follow the stock market listing recommend taking positions in it. The best example is ABC International, which advises its clients to buy their bonds in the heat of reducing their indebtedness in 2017.
And is that the leverage of the real estate company has become a headache for Hui Ka Yan. According to FactSet, its net debt will amount to 37 billion euros at the end of this year, although Evergrande agreed to sell its 14.1% stake in China Vanke for $.3 billion in June.
There is no doubt in the generation of income by the company. In this regard, analysts expect growth of almost 50% of their net profits, to reach 39,000 million euros at the end of this year. Growth that will be thinner by 2018, when they estimate to increase by 20%, to 48 billion.
Hui Ka Yan has followed the footsteps of his predecessor on the list of China’s greatest millionaires, Wang Jianlin, and has chosen to become fully involved in the world of sports.
He has done it by the hand of the football team of which he owns by 60%, the Guangzhou Evergrande Taobao. It is one of the largest football clubs in the country. Based in the city of Guangzhou, the southern Chinese tigers (that’s how they are nicknamed).
This set has been made with the services of Brazilian ex-champion Luiz Felipe Scolari, former world champion with the South American team of clubs coach like Chelsea. And it does not seem to live a bad moment in the sport. The team has won five consecutive league titles in China (between 2011 and 2015) as well as the Asian Champions League in 2013.
In addition, it has recently generated Chinese entrepreneurs earning about $200 million, selling a 40% stake to Asia’s richest man, Jack Ma.
Therefore, Hui Ka Yan has become the man who has increased his fortune in the year among the great world millionaires. The growth of his fortune even surpasses Mark Zuckerberg in the same period and it is worth to him to enter in the list of the 30 richest entrepreneurs of the earth globe that elaborates Bloomberg.