This week, the China-based rich list group, Hurun Report, released its annual list of the world’s richest real estate billionaires. The report underlined the importance real estate plays in global wealth and in turn how families dynasties dominate the sector.
Topping the list was Xu Jiayin, the biggest shareholder of the China-based real estate developer, Evergrande, with a fortune of $37 billion. Family dynasties in the top ten list included the Chirathivats, who own the Central Group, a huge real estate developer in Thailand. Central Group is currently managed by the third generation, Tos Chirathivat, and their fortune is estimated to be worth $19 billion.
Donald Bren, the owner of Irvine Company, is the richest property owner from the US, with a fortune estimated at $17 billion. Although Irvine was taken over from the Irvine family and developed further by Bren, his father was a successful property developer, and some of Bren’s children are also work in the sector.
Wang Jianlin with a fortune worth $17 billion is joint sixth on the real estate rich list. Wang’s son is involved in the Wanda property business his father founded in 1988 in China. Also joint sixth is Hugh Grosvenor, the 7th Duke of Westminister, from the wealthiest property dynasty in the UK. The Hong Kong-based Cheng family, which own a big share of property group, New World, is also in sixth place. Hong Kong-based Joseph Lau and family are number ten on the list with a fortune estimated at $16 million.