China's new richest person, courtesy of Country Garden

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As of last Friday, Asia has a new richest woman, and she’s completely alive. Yang Huiyan, the daughter of Yang Guoqiang, founder of Guangdong property developer Country Garden Holdings Co., is now worth more than twice the formerly living Nina Wang, who left her $4.2bn to feng shui proponent Chan Chun-cheun. Guoqiang gave his Country Garden shares to Huiyan in 2005, giving her around 60% ownership of the company worth about $9bn after Friday’s IPO. According to the extremely reliable and complete accounts in Chinese media, Guoqiang started out as a poor farmer in the city of Foshan. He moved to construction work and married a bricklayer. Then he moved to real estate in the early 1990s and grew a billion dollar corporation. It's just that easy. We couldn’t find any pictures of Huiyan, so imagine her father, shown here, with a wig.
Country Garden raised $1.6bn in its IPO on the Hong Kong Stock Exchange, about as much as Google in 2004. Morgan Stanley and UBS were involved in the deal.
China Adds Billionaires With I.P.O. – [DealBook]
Woman tops rich list after IPO – [ChinaDaily]

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