May 16 2008
You may not expect this, but the richest person in China is a female. Yang Huiyan, is only 26, and has inherited 7.4 billion. Her father, Yeung Kwok Keung, owned Country Garden Holdings Co, which he sold last April in the Hong Kong Stock exchange. Garden Holdings is a real estate investment group that focuses on building townhouses and villas in China. If you ever go to China ask how much the average townhouses cost there. They are so expensive that the majority of the population cannot live there, Chinese constructors build houses for the wealthy affluent foreigners.
Basically, Keung buys cheap land and builds villas with cheap labor. He then sells them for extremely high prices, because foreigners can buy them. That’s how to get rich in China, or any developing country. All you need is connections and kick the poor people out to build on their land.
Chinese hustling Chinese.