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9 Chinese among Asia’s top 10 wealthiest millennials

SINGAPORE, 3 days ago

Chinese ultra wealthy individuals claimed nine of the 10 spots on a list of Asia’s richest millennials (definite as those born from 1981 to 1997), revealed Wealth-X, an authority on wealth intelligence, providing sales, marketing, strategy and compliance solutions to clients in the financial services, luxury, not-for-profit and education sectors.

Three of the 10 spots on the list were occupied by female Asian millennials, it said.

The combined net worth of these three women is nearly $10 billion, accounting for 44 per cent of the total combined wealth of the entire list.
Topping the list is 34-year-old Yang Huiyan, vice chairman of Country Garden Holdings, a China-based property development and management company. Her personal fortune totals $6.1 billion, said the report.

Huiyan reportedly received her father’s stake in the company in 2005, making her the wealthiest woman in China at that time, it said.
Adrian Cheng, the scion of Hong Kong’s New World Development Group, took second place on the list with a net worth of $4.4 billion.

Cheng joined the family business in 2006, but is also an avid art collector and supporter of Chinese artists.

In 2010, Cheng launched a non-profit ‘artist village’,’ an 11-studio workshop space in Wuhan, China, to incubate emerging artists.
Seven of the ten Asian millennials on the list inherited their wealth, while three made their own fortunes, it added. – TradeArabia News Service

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