Huang Rulun

From Wikipedia, the free encyclopedia
Jump to navigation Jump to search
Huang Rulun
Born 1951/1952 (age 66–67)[1]
Fukien, China
Nationality Chinese
Occupation Businessman
Known for Century Golden Resources Group
Net worth US$3.5 billion (June 2018)[1]
Spouse(s) Married
Children 2

Huang Rulun (born 1951/1952) is a Chinese billionaire businessman. He is head of the privately held real estate developer Century Golden Resources Group.[2] In June 2018, Forbes estimated his net worth at $4.0 billion.[1]

Early life[edit]

Huang was born to a poor family in the town of Lianjiang in Fujian, China.[2] Huang initially worked as a street vendor in China.[2]

Business career[edit]

As a trader in the Philippines[edit]

In 1986 Huang went to the Philippines, where he worked as a trader.[2]

Return to China[edit]

At age 40, Huang moved back to China and established the Century Golden Resources Group. His company had a joint venture with the local government of Fuzhou to build his first project, the Guotai Tower amidst a commercial property boom in Southern China in the early 1990s. Huang built more commercial properties in the next three years. During this period he also started to build residential projects before new restrictions on commercial development was imposed in 1994. Huang did not rely much on outside financing, preferring to use his own capital. He became the largest private developer in Fuzhou.[2]

He returned to focus on Beijing as a developer in 1998. He initially supported the Shiji Jiayuan housing development, then invested Rmb17 billion in the Century City project. In 2004 he completed the Beijing Golden Resource Shopping Mall. The mall was next to Century City, a residential area. This model was repeated in Kumming, Changsha, Guiyang, and Hefei.[2]

According to the Financial Times, he played a "central role in the revival of his country's ties with the Philippines." He funded drug treatment centers during the administration of President Rodrigo Duterte[3] in 2016.[4] Both treatment centers were hailed by Duterte as a sign of Chinese friendship, with Huang not offering details, and saying he was funding the centers to improve ties between the two nations.[5] According Duterte, Huang did not ask for anything in return for the mega facility.[6]

In October 2016, Chinese state media said that Huang's company had paid bribes to Bai Enpai, the party secretary of Yunnan Province. In June 2017, it was announced that he was being investigated by the state[3] over corruption allegations.[7] That week, he was removed from his role in Fujian province political consultative conference.[3][8] He was also arrested.[3]

He has donated money to Peking University and other schools.[3]

As of 2016, he had invested in around 20 five-star hotels and 10 malls.[9]

Personal life[edit]

Huang is married, with two children, and lives in Beijing, China.[1]

References[edit]

  1. ^ a b c d "Forbes profile: Huang Rulun". Forbes. Retrieved 23 June 2018.
  2. ^ a b c d e f ""Use your own capital"". Week in China. ChinTell Limited. 25 January 2013. Retrieved 18 October 2016.
  3. ^ a b c d e "China probes tycoon central to Philippines ties", The Financial Times, Lucy Hornby, June 26, 2017
  4. ^ "Philippines to open ‘mega’ rehab centre, funded by Chinese property tycoon Huang Rulun", South China Morning Post, October 12, 2016
  5. ^ "Behind Philippines' ties with China, a billionaire and his rehab centers", Reuters, Adam Jourdan, Jackie Cai, October 31, 2016
  6. ^ "Duterte keeps off China probe of tycoon Huang Rulun", The Manila Times, Catherine S. Valente, July 1, 2017
  7. ^ "Philippines ‘respects’ probe of Chinese tycoon", Global Times, June 28, 2017
  8. ^ "Tycoon Huang Rulun booted from Fujian advisory role", The Standard, June 22, 2017
  9. ^ "Huang Rulun", Bloomberg