Asia's richest woman lost more than half her fortune in China's property crunch
CNN
Yang Huiyan, Asia's wealthiest woman, has seen her wealth fall to $11 billion from nearly $24 billion this year as China's property crisis escalates, according to the Bloomberg Billionaires Index.
The 41-year-old controls Country Garden Holdings, China's largest real estate developer by sales. Her stake was largely transferred from her father Yang Guoqiang, who founded the company in Foshan, Guangdong province, in 1992.
Country Garden's stock has lost more than half its value this year, as the country's real estate sector has struggled with falling home prices, weakening buyer demand, and a debt default crisis that has engulfed some of its largest developers since last year.
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