Savitri Jindal replaces Yang Huiyan as Asia’s richest woman

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Yang Huiyan, the richest woman in Asia, lost over half her money as a result of China’s assets crisis. Huiyan, who runs Country Garden Holdings, the most important land developer in China, saw her overall wealth fall to $11 billion from nearly $24 billion the previous year. She lost plenty of cash that day, more than $1 billion.

The most significant developers in China are struggling with falling real estate values, dwindling consumer demand, and a debt default catastrophe. In line with the Bloomberg Billionaires Index, Country Garden Holdings stock has lost about half its value this year amid the aforementioned uncertainty.

China’s government began cracking down on excessive debt within the property sector in 2020, which caused the most important realty company to neglect payments and renegotiate terms with creditors. Construction and distribution were delayed all around the state as a result. As a result of Country Garden’s announcement that the company will sell new shares to raise money amid the crisis, its price fell 15%.

Huiyan became one of the youngest billionaires on the planet in 2005 after inheriting her father’s share of the important estate business.

For the previous five years, she has held the title of the richest woman in Asia. Yang Huiyan’s fortune experienced a pointy decline, making Savitri Jindal the richest woman in Asia. In India, which has a population of 1.4 billion people, Jindal, 72, is the tenth wealthiest person and the richest woman.

Despite never having attended college and just taking over her husband’s business following his tragic death, Savitri Jindal’s wealth soared by $12 billion in exactly two years. In fact, within the past two years, her net worth has increased over thrice, from $4.8 billion in 2020 to $17.7 billion in 2022. This came after a 50% decrease in 2019 and 2020. She had an $8.8 billion net worth in 2018, $5.9 billion in 2019, and then $4.8 billion in 2020.

When Jindal’s wealth surpassed $18 billion in 2021, she was granted membership to ten prestigious clubs. She has long been regarded as the richest Indian woman, according to Forbes. On the list of the wealthiest Indian women, Kiran Mazumdar and Crishna Godrej are listed after her.

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