9/25/2021- 12:10 p.m.
Evergrande Shares CRASH 11.6% – but CEO remains among China’s richest billionaires
Following the Chinese construction giant failing to pay around $84 Million in interest from offshore bonds, the Hong Kong stock exchange closed showing Evergrande’s shares had crashed!
It now has 30 days before it defaults, but another deadline looms. The company has to pay almost $50MN by Sept. 29th.
Despite its shares plummeting almost 80% this year, founder and president Hui Ka Yan has seen his personal fortune rocket up by $11.1 BILLION. And a large chunk of that was in fact dividends paid out through Evergrande. (Forbes)
