XU JIAYIN • Hui Ka Yan • Net Worth $3 billion • House • Yacht • Private Jet • Evergrande Group

Name:Xu Jiayin
Name (Kantonese)Hui Ka Yan
Net Worth:$3 billion
Source of Wealth:Evergrande Group
Born:October 9, 1958
Wife:Ding Yumei
Xu Xihao, Xu Zhijian
Residence:Shenzhen, China
Private Jet:Airbus A330 VP-BHD

Who is Xu Jiayin?

As the Chairman of the Evergrande Group, Xu Jiayin has firmly established himself as a key player in China’s booming real estate market. Also known by his Cantonese name, Hui Ka Yan, Xu was born in October 1958. A dedicated family man, he is married to Ding Yumei and they have two children together.

Xu Jiayin, an influential Chinese businessman and real estate developer, founded China Evergrande Group, which has grown into one of the largest real estate developers in the country. His journey as an entrepreneur began in the early 1990s, and in 1996 he laid the foundation of China Evergrande Group. Over the years, the company has excelled in delivering both residential and commercial properties, garnering significant success in the industry.

Key Takeaways:

  • Xu Jiayin is a significant figure in China’s real estate sector, leading the Evergrande Group, one of the largest developers in the country.
  • Overcoming numerous challenges, Xu has grown Evergrande into a successful company with a workforce of over 80,000 and over 400 large projects across China.
  • Besides real estate, Xu has shown interest in sports, owning the Guangzhou Evergrande Football Club, a team that participates in the Chinese Super League.
  • With a net worth of $3 billion, Xu was once the richest man in China and remains an influential business tycoon and philanthropist.

Unraveling the Evergrande Group

The Evergrande Group is a real estate developer headquartered in Hong Kong. This massive conglomerate, with a workforce of over 80,000 employees, specializes in the construction of residential buildings.

With a diverse portfolio of over 400 large projects, Evergrande has left its architectural footprint in more than 170 major cities across China. However, the company’s aggressive expansion strategy has also led to it being recognized as China’s most indebted property developer.

Navigating Liquidity Issues

In the summer of 2021, Evergrande Group found itself in a challenging position when it alerted the Guangdong government about a potential cash crunch. The company’s shares took a plunge following this announcement, affecting global markets and slowing foreign investment in China. By October 2021, the group faced further adversity when a $2.6 billion asset sale, aimed to meet an $83 million interest payment, failed to close.

Guangzhou Evergrande Football Club

Apart from his business ventures, Xu Jiayin has also invested in sports. He is the majority owner of the Guangzhou Evergrande Football Club, a professional Chinese football club. The team, licensed by the Chinese Football Association, is based in Guangzhou, Guangdong. They play their home games at the Tianhe Stadium which can accommodate up to 58,500 spectators.

Assessing Xu Jiayin’s Net Worth

Xu Jiayin’s business acumen has contributed to his substantial net worth, currently estimated at $3 billion. In previous years, Forbes placed his worth at $33 billion, making him the wealthiest individual in China. Beyond his business achievements, Xu is recognized as one of the Top 10 Philanthropists in China, having won the “China Charity Award” – the highest governmental award in the China charitable sector – seven consecutive times.

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Yacht Event Owner

Xu Jiayin / Hui Ka Yan

Hui Ka Yan Yacht

He is the owner of the Amels motor yacht Event. The Yacht Event is a 60-meter customized Amels Limited Edition 199. She is designed by Tim Heywood.

Her interior is designed by Studio Laura Sessa of Rome. Luxury yacht Event has a scimitar bow. Which increases water length and reduces fuel consumption.

The Event Yacht is a 60-meter luxury yacht designed by Tim Heywood and part of the Amels Limited Edition 199 series.

The yacht’s interior is designed by Studio Laura Sessa and features a unique scimitar bow, contributing to improved fuel efficiency.

Powered by twin Caterpillar engines, the yacht achieves a top speed of 16.5 knots and a cruising speed of 15 knots.

The innovative foredeck tender garage design allows seamless launch and retrieval of tenders and toys.