Xu Jiayin

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  • Post category:China

Name: Xu Jiayin

Country:  China

Date of birth: October 9, 1958

Education: graduate, Wuhan University of Science and Technology

Type of business: real estate, self-made.

Main Achievements: 

He has remained on Forbes’s most abundant list multiple times and also on China’s most precious 100 lists as well. Recently he was number 3 on China’s richest 100 lists with a net worth of $2.7 billion. He is credited to have 800 plus projects in almost 280 cities. What’s more, is that Xu is credited to have reached his company’s debt to equity ratio to even a whopping 150%. He has remained on prestigious posts throughout before founding his company.

Something interesting about the person:

Xu was never a rich person, to begin with. His father was a simple warehouseman, and he began from scratch, rising to become a billionaire.

Biography:

 The founder of one of China’s most aggressive property developers – Evergrande was born in fact in a small rural family in Jutiagang village. Xu’s father was a retired soldier who had been in the second Sino-Japanese war. His father after retirement became a warehouseman in the village. Xu’s mother died due to sepsis when he was just eight months old, causing him to be raised by his paternal grandmother.

After attending high school at his local village, Xu proceeded to work in a cement factory only to resume back to college in the year 1978. He attended the Wuhan university of science and technology. Once he completed his graduation in 1983, he was assigned to the heat-treatment shop of Wuyang Iron and Steel Company. He remained at the post of the director there for at least seven years.

After retiring from that company in 1992, Xu worked in two more places as well before finally moving into the state of Guangzhou, capital of Guangdong province. It was here that his luck finally opened and changed his life forever. He went there to establish the Guangzhou Pengda Industrial Co., Ltd. After this, in 1997, he decided to form the Evergrande group and became chairman of the board of Evergrande. The company aimed to provide residential land to middle-class families and people, catering to mainly income dwellers. In 2009 he managed to raise almost $722 million at the Hong Kong stock exchange for his company and raised his way to make his company’s one of the top ten real estate companies in mainland China. His real estate company also has a separate football group known as the Evergrande football club. It is claimed to be china’s most successful clubs and was given so the title in 2016 as well. Besides that, he also later expanded his company towards agribusiness, milk formulas, solar panels, pig farming, etc. besides that, he pushed his company into the tourism and health area also where the company has also made significant progress. His tourism group is known for creating four huge themed parks for specific age groups and promotes the cultural beauty of china too. When coming to his health group project, i.e., Evergrande Health, it also helps in taking care mainly of the elderly and working on a healthier China.

However, recently since the COVID-19 pandemic, Xu’s company has suffered a bit due to ongoing liabilities and lesser revenue generated since the Chinese economy was affected by the virus. The billionaire now plans to take things slowly in his company and has decreased the targeted sales currently.

Due to his immaculate performance and successful sales, he made it to Forbes’s richest lists multiple times. This included the year 2008, 2019, and 2020.

Besides being a successful businessman, Xu is also known for being one of China’s topmost philanthropists. He ha donated $100 million just for a scholarship at the University of Beijing.

He is also currently serving as the vice president for China Real Estate Association, China Entrepreneur Association, and is also the vice president of the Chinese enterprise association. All of these are impotent and essential posts in their places.

Links:

https://mobilesite.evergrande.com/en/about.aspx?tags=2
https://www.forbes.com/profile/hui-ka-yan/#c19b45372bf3

http://www.baike.com/wiki/Xu%20Jiayin