Huang Guangyu, was the Chairman of GOME Group, net worth of US$1.7 billion as of 2005, according to Forbes magazine. He is kind of like the Al Capone of China, running his business from behind bars.
Sunday, 17 February 2019
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Huang Guangyu, 黄光裕 was the Chairman of GOME Group, which is the largest consumer electronics retailer in China. He had a net worth of US$1.7 billion as of 2005, according to Forbes magazine's world's richest people ranking. In 2005, he was the richest man in China according to Time magazine. He was born and raised as a Christian.
Born in southern China, Huang Guangyu built a massive electronics empire, Gome Electrical Appliances Holding Ltd., before moving into Chinese real estate. He was China’s richest person in 2006 and 2007, according to Forbes.
In 2008, he was arrested on suspicion of fraud and a Hong Kong court froze assets belonging to his company the following year. He was sentenced to prison in 2010. A Chinese court sentenced Huang Guangyu to 14 years in prison, a punishment that is likely to be seen as a warning to the country's business executives.
In April 2011, Chairman Chen Xiao, who succeeded Huang when he was sentenced to prison, resigned after a seven-month campaign by Huang to reassert control.
Business Behind Bars
On July 12, 2011, Eagle Vantage Asset Management, controlled by Huang, bid on his behalf for the decommissioned British Royal Navy aircraft carrier, HMS Ark Royal. According to reports, the plan is to create the world’s largest buoyant luxury shopping mall.
This 'Bill Gates of China' splurged on a $41.5 million mansion in New York City in early 2017. Huang Guangyu and his wife, Lisa Du Juan, bought the townhouse at 7 East 76th Street this week for just under $3,000 a foot, according to the New York Post. The seller was Japanese billionaire Bungo Shimada, as The Real Deal reported.Huang GuanYu is kind of like the Al Capone of China, running his business from behind bars.
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References
https://en.wikipedia.org/wiki/Huang_Guangyu
https://www.businessinsider.com/huang-guangyu-buys-mansion-in-new-york-2017-3/?IR=T
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