Net Worth: $2.3 Billion
- Source of Wealth Real Estate
- Marital Status Married
- Full Name Huang Wei
- Nationality Chinese
- Ethnicity Chinese
- Occupation Chairman of Xinhu Zhongbao
- Education Wenzhou Normal College
- Children None
About Huang Wei
Huang Wei is the chairman of Xinhu Zhongbao and he has an estimated net worth of $2.3 billion as of April 2016 according to Forbes. Considered one of China’s most successful real estate developers, he is the 27th richest person in China and 554th in the world.
Mr.Huang Wei has accumulated his estimated net worth of $2.6 billion with his control of the real estate and investment company through Zhejiang Xinhu Group, his main holding company. The firm is headquartered in the eastern Chinese city of Hangzhou. It has more than 30 real estate projects under development in about 20-plus cities. It is a shareholder in financial services firms such as Shengjing Bank, Chengdu Rural Commercial Bank, Xiangcai Securities and Xinhu Futures.
In January 2011, Xinhu Zhongbao announced that it would form a 70%-owned joint venture movie and television production company in partnership with the well-known Chinese film industry figures Hu Mei and He Yanjiang. It continues to expand its real estate investments in southern China. In February 2010, it bought for $200 million the 35% of Times Group, a Guangzhou real estate company.
Huang Wei’s net worth continues to grow. In the past year, his earnings was up by more than $600 million based on an improved real estate market and better overall economic conditions as it approaches 2013. In the recent months, he cut-off his stake in the holding company from 68%to 64%. Between September and December of last year, he has sold $161 million worth of shares. His firm announced a plan to buy 34% of the Northwest Mineral Group for $121 million as part of his move to engage in the mining industry.