Biography:
Xu Jiayin, the esteemed chairman of Evergrande Group, has been a constant subject of intrigue and financial scrutiny in the dynamic realm of Chinese business tycoons. This article delves into the enthralling story of Xu Jiayin net worth, delving into the highs, lows, and intricate factors that have shaped his financial trajectory.
Quick Facts
| Aspect | Facts |
|---|---|
| Full Name | Hui Ka Yan (Xu Jiayin in Mandarin Chinese) |
| Date of Birth | October 9, 1958 |
| Birthplace | Jutaigang Village, Gaoxian Township, Taikang County, Henan, China |
| Family Background | Resigned in 1992, moved to Shenzhen, and joined trading company Zhongda; later became president of its branch office in Quanda. |
| Education | Wuhan Institute of Iron and Steel (now Wuhan University of Science and Technology) |
| Early Career | Worked in a cement product factory and later as a production team leader before entering college. |
| Career Transition | Joined Wuyang Iron and Steel Company in 1982, serving in various roles, eventually becoming its director. |
| Move to Shenzhen | Resigned in 1992, moved to Shenzhen, and joined trading company Zhongda; later became president of its branch office Quanda. |
| Entrepreneurship | Founded Guangzhou Pengda Industrial Co., Ltd. in Guangzhou in 1994. |
| Evergrande Group | Founded Evergrande Group in March 1997, serving as its chairman. |
| Business Ventures | The owner of Guangzhou Evergrande Football Club; announced a $6.4 billion investment in electric cars in 2019. |
| Financial Peak (2017) | Net worth peaked at $45.3 billion, ranking third on Forbes’ 2020 list of the richest Chinese billionaires. |
| Financial Challenges (2021) | Net worth dropped to $6.2 billion by December 2021, attributed to mounting debts and the Evergrande liquidity crisis. |
| Political Engagement | Became a member of the Chinese People’s Political Consultative Conference (CPPCC) National Committee in 2008. |
| Political Career Growth | Promoted to CPPCC National Committee’s Standing Committee in 2013; attended the 100th anniversary of the Chinese Communist Party in 2021. |
| Recent Challenges (2023) | Born to a rural family; his father, a retired soldier, participated in the Second Sino-Japanese War; raised by his paternal grandmother after mother’s death. |
| Personal Life | Trading in Evergrande shares was suspended after reports of a police investigation into Xu Jiayin for suspicion of illegal activities. |
