What is Huang Rulun net worth ?
|Net worth||$3 billion|
|Source of wealth||Real estate developer|
|Date of Birth||born 1951|
|Known for||Century Golden Resources Group|
Huang Rulun net worth: Huang Rulun is a Chinese billionaire businessman. He is head of the privately held real estate developer Century Golden Resources Group. He has a net worth of $3 billion.
Huang was born to a poor family in Lianjiang County, Fujian, China. Huang initially worked as a street vendor in China.
In 1986 Huang went to the Philippines, where he worked as a trader.
At age 40, Huang moved back to China and established the Century Golden Resources Group. His company had a joint venture with the local government of Fuzhou to build his first project, the Guotai Tower amidst a commercial property boom in Southern China in the early 1990s.
Huang built more commercial properties in the next three years. During this period he also started to build residential projects before new restrictions on commercial development was imposed in 1994. Huang did not rely much on outside financing, preferring to use his own capital. He became the largest private developer in Fuzhou.
He returned to focus on Beijing as a developer in 1998. He initially supported the Shiji Jiayuan housing development, then invested Rmb17 billion in the Century City project. In 2004 he completed the Beijing Golden Resource Shopping Mall. The mall was next to Century City, a residential area. This model was repeated in Kumming, Changsha, Guiyang, and Hefei.
According to the Financial Times, he played a “central role in the revival of his country’s ties with the Philippines.” He funded drug treatment centers during the administration of President Rodrigo Duterte in 2016. Both treatment centers were hailed by Duterte as a sign of Chinese friendship, with Huang not offering details, and saying he was funding the centers to improve ties between the two nations. According Duterte, Huang did not ask for anything in return for the mega facility.
In October 2016, Chinese state media said that Huang’s company had paid bribes to Bai Enpai, the party secretary of Yunnan Province. In June 2017, it was announced that he was being investigated by the state over corruption allegations. That week, he was removed from his role in Fujian province political consultative conference. He was also arrested.
He has donated money to Peking University and other schools.
As of 2016, he had invested in around 20 five-star hotels and 10 malls.
Huang Rulun Net Worth
Huang Rulun net worth is $3 billion. His main source of wealthy is through his investments. Huang is married with two children, and lives in Beijing, China. Huang Chulong chairs Galaxy Group, a privately held business based in the southern Chinese city of Shenzhen.
Huang’s business interests span hotels, shopping malls, office leasing, parking-lot operation and real estate development.