Beijing rich does not always mean having a lot of cash at hand, unless your are one of the bigger property tycoons in China, says China Rich List founder Rupert Hoogewerf in the Hong Kong Standard. “I am interested to know how they are going to spend the money.”
The Hong Kong Standard:
The first netted 4.3 billion yuan (HK$5.26 billion) and the latter 3.7 billion. The top 30 mainland tycoons made 86 billion yuan either by selling shares or receiving dividends, more than double the year before, the Hurun Cash Out Rich List revealed.
Apparently their wealth was not affected by the stock slump this year.Hopson Development founder Zhu Mengyi and his family is ranked top by selling a stake in Shanghai Electric Group for 8.2 billion yuan.
Hurun Report chairman Rupert Hoogewerf said those on the list were the real rich people in China as they hold cash. “I am interested to know how they are going to spend the money.”
Are you looking for more stories by Rupert Hoogewerf? Do check out this list.