Yang Huiyan's wealth plunges by more than half to $16.1 billion, down from $33.9 billion a year ago, according to the Bloomberg Billionaires Index.
Asia's wealthiest woman lost more than half her fortune over the past year as China's real estate sector was rocked by a cash crunch.Ms Yang inherited her wealth when her father transferred his shares to her in 2005Yang Huiyan, a majority shareholder in Chinese property giant Country Garden, saw her net worth plunge by more than 52 per cent to $16.1 billion, down from $33.9 billion a year ago, according to the Bloomberg Billionaires Index.
Ms Yang inherited her wealth when her father — Country Garden founder Yang Guoqiang — transferred his shares to her in 2005, according to state media. But she is now barely holding onto that title, with chemical fibres tycoon Fan Hongwei a close runner-up with a net worth ofMs Yang is a majority shareholder in Chinese property giant Country Garden.
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