Who is Savitri Jindal, Asia's richest woman
By Team Newsable | First Published Jul 30, 2022, 5:16 PM ISTSavitri Jindal (72) is India's wealthiest woman and the tenth-richest person in the country of 1.4 billion people.
Yang Huiyan is no longer the wealthiest lady in Asia due to the impact of China's real estate crisis on the nation's developers, including her Country Garden Holdings Co.
Yang was surpassed in the Bloomberg Billionaires Index on Friday by Savitri Jindal of India, who has a fortune of $11.3 billion thanks to her conglomerate Jindal Group, which is involved in industries such as metals and power generation. She also slipped below another Chinese tycoon Fan Hongwei, whose fortune comes from the chemical-fibre manufacturer Hengli Petrochemical Co.
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It's a dramatic fall for Yang since inheriting her father's stake in the real estate developer in 2005, making her one of the world's youngest billionaires. She has been Asia's richest woman for the past five years, reflecting the rapid growth of China's property sector.
This year, her wealth has more than halved to $11 billion. The decline has accelerated this week after her Country Garden, China's largest property developer, announced that it needed to raise equity at a discount, causing the stock to plummet to its lowest level since 2016. Yang, who is now in her early forties, owns roughly 60 per cent of Country Garden and 43 per cent of its management-services division.
Jindal (72) is India's wealthiest woman and the tenth-richest person in the country of 1.4 billion people. After her husband, founder OP Jindal, died in a helicopter crash in 2005, she took over as chairwoman of the Jindal Group. The company is India's third-largest steel producer and is interested in cement, energy, and infrastructure.
Jindal's net worth has risen and fallen dramatically in recent years. It fell to $3.2 billion in April 2020, at the start of the Covid-19 pandemic, before skyrocketing to $15.6 billion in April 2022, when Russia invaded Ukraine, sending commodity prices skyrocketing.
Fan (55) has also seen a decline in her fortune this year, but she has fared better than other Chinese billionaires. It reflects the breadth of her business empire, which began with a bankrupt state-owned textile factory in Wujiang, Jiangsu's easternmost province.
Fan, a former accountant, founded Hengli Group with her husband, Chen Jianhua, in 1994, later expanding into polyester, petrochemicals, oil refining, and tourism. Last year, the company earned 732.3 billion yuan ($109 billion). The Bloomberg wealth index values Chen's fortune at $6.4 billion.
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