Get all your news in one place.
100's of premium titles.
One app.
Start reading
Fortune
Fortune
Chloe Taylor

China Evergrande’s founder is no longer a billionaire after the man once worth $42 billion loses 98% of his wealth

Evergrande Hui Ka Yan China Asia
Hui Ka Yan, chairman of China Evergrande Group, speaks during a news conference in Hong Kong, China, on Monday, March 26, 2018. (Credit: Anthony Kwan—Bloomberg via Getty Images)

It’s been a rough year for Hui Ka Yan, the founder of downfallen Chinese real estate giant Evergrande—and to top it all off, the property tycoon just lost his billionaire status.

Hui, who founded Evergrande in 1996, was detained by Chinese police last month on “suspicion of illegal crimes” related to the debt-laden company’s financial woes.

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Woman finds a white purse at a thrift store. Then she unzips a small pocket and realizes it isn’t empty: ‘This is crazy’
That was a surprise!
We Got This Covered
We Got This Covered
Pop Star Britney Spears Reportedly Branded 'Clueless' by Critics Over Recent Dollywood Ride Video
Britney Spears shared footage from a family visit to Dollywood, praising the Tennessee attraction, while some online viewers criticised the language heard during a spinning-ride video.
International Business Times UK
International Business Times UK
What Happened to Travis Barker? Musician Shares Hospital Photos as Kourtney Kardashian Stays by His Side
Travis Barker says he underwent cubital tunnel release surgery after experiencing numbness in his arm, hand and fingers, adding that he hopes to resume drumming within weeks.
International Business Times UK
International Business Times UK
Woman orders a Whopper and a Whopper Jr. at a mall Burger King. Then she sees the $30 total and shows the camera the tray: ‘This is crazy’
She showed everything that came with it.
We Got This Covered
We Got This Covered
'I didn't know this place existed': Britney Spears enjoys family day at Dollywood
Britney Spears enjoyed a visit to Dollywood with her two sons - but admitted she hadn't been aware the theme park "existed" before their trip.
BANG Premier
BANG Premier
How Jim Bakker became the Johnny Carson of Christian TV
When I was researching my 2017 book, “PTL: The Rise and Fall of Jim and Tammy Faye Bakker’s Evangelical Empire,” I interviewed dozens of former staffers and supporters of PTL, the ministry, television and theme park empire that the Bakkers built starting in the 1970s.
The Conversation
The Conversation
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.
Download on the AppStore Get it on Google Play