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— - 2 China's - 1 Evergrande - 1 Yan - 1 Hui — - 1 Hui - 1 Stocks - 1 oligarch Andrey Melnichenko - 1
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Service - 2 Bloomberg - 1 Hong Kong Stock Exchange - 1 Hong - 1 Moscow - 1 Authorities - 1 United Arab Emirates - 1 Financial Times - 1

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☆ The founder of Chinese property developer Evergrande — who was once Asia's second-richest person — is no longer a billionaire
  + stars: | 2023-10-25 | by ( Huileng Tan | ) www.businessinsider.com   time to read: +3 min
Once China's second-largest property developer, Evergrande has been mired in a debt crisis since 2021. AdvertisementAdvertisementHui Ka Yan, the founder and chairman of embattled Chinese property developer Evergrande, was once Asia's second-richest person worth $42 billion in 2017. Currently worth $979 million, Hui's net worth followed a dive in the share price of Evergrande amid a real-estate sector meltdown in China. Hui's wealth has also taken a big hit from the recent wild swings in the company's share price on the Hong Kong Stock Exchange. AdvertisementAdvertisementEvergrande's share price was up 0.4% at 24 Hong Kong cents, or 5.4 cents, at 10.05 a.m. Hong Kong time on Wednesday.
Persons: China's, Evergrande, —, Yan, Hui —, Hui, Stocks Organizations: Service, Bloomberg, Hong Kong Stock Exchange, Reuters, Hong Locations: China, Evergrande, Hong Kong
☆ Russia's so desperate to get its billionaires and their massive wealth back that it just threatened to seize the assets of an oligarch worth $13 billion
  + stars: | 2023-08-21 | by ( Huileng Tan | ) www.businessinsider.com   time to read: +3 min
Russia filed a lawsuit against oligarch Andrey Melnichenko, who is worth $13 billion. The state is looking to seize Sibeco amid Putin's call for Russian tycoons to invest at home. Authorities have filed a lawsuit against Andrey Melnichenko, an oligarch now based in the United Arab Emirates, the Financial Times reported on Sunday. The ninth richest person in Russia, Melnichenko — who has been sanctioned by the European Union and the US — is worth $13 billion as of Monday, according to Bloomberg Billionaire's Index. In March 2022, Melnichenko — whose mother is Ukrainian — told Reuters in an interview that Russia's invasion of Ukraine was "truly tragic."
Persons: oligarch Andrey Melnichenko, Andrey Melnichenko, —, nationalize, Melnichenko, Putin, Melnichenko —, Ukrainian — Organizations: Service, Moscow, Authorities, United Arab Emirates, Financial Times, Melnichenko's, Kremlin, Reuters, European Union, Bloomberg Billionaire's Locations: Russia, Wall, Silicon, Ukraine, Siberian, Krasnoyarsk —, Russian, Ukrainian
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