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Huang Guangyu Net Worth

Huang Guangyu Net Worth

Net Worth: $3.25 Billion

Statistics
  • Source of Wealth Real Estate, Retail
  • Birth Place Shantou, Guangdong
  • Marital Status Married to Du Juan
  • Nationality China
  • Date of Birth June 24, 1969
  • Occupation Former Chairman of GOME Group

About Huang Guangyu

Huang Guangyu was the Chairman, Executive Director and Controlling Shareholder of Gome Group, the largest consumer electronics retailer in China. Based on the Hurun list of September 2013, he is the ninth richest person in Beijing with an estimated fortune of $3.25 billion. He was the richest man in China in 2005 according to Times magazine.

Mr. Huang built Gome Electronics into China’s largest retailer of appliance with an estimated value of $6.3 billion in 2008. It experienced an abrupt fall due to the widespread complaint of misconduct among the many billionaire entrepreneurs in China. His shares in Gome were stopped in trading by the Hong Kong Stock Exchange on November 24, 2008 with the ongoing investigation in his case.

Huang Guanyu was convicted by a Beijing court for bribing officials and unspecified “illegal operations” according to a statement issued by prosecutors. Accusations of bribery, tax evasion and the collusion of corrupt officials in financial abuses are common in the country. He was sentenced to 14 years in prison, a move which was seen as a warning to the business executives in China. On January 16, 2009, he resigned from his post as Chairman of the group.

Huang also concentrated his wealth in real estate aside from household appliance retail. He now owns a company called Pengrun Investment which is based in Beijing. Recently, its worth has fallen by -5%.