Huang Maoru & family
Net worth:$1.8 billion
Source: Retail, self-made
Residence: Guangdong, Shenzhen, China
Marital Status: Married ,Citizenship: Belize
Chairman of Maoye International Holdings, which operated 37 department stores in 16 Chinese cities as of the end of January. Huang Maoru Has been building out nationally from his early base in Shenzhen, just north of the Hong Kong border.
In December 2010, the company paid $170 million for land to build a new commercial complex in Taizhou in Jiangsu Province. A month earlier, Maoye said it would pay $62 million for an 80% stake in Zibo Dongtai Building in central Shandong Province, which owns or operates department stores, supermarkets and a distribution center in the city of Zibo. Investors seeking to benefit from growth in China’s consumer spending, especially in second- and third-tier cities, have helped to push up Maoye’s Hong Kong-traded shares by 41% in the past year, giving Huang’s wealth a boost, too. Maoye went public in Hong Kong May 2008. Huang is reportedly the brother of Huang Shih Tsai.
Source: Forbes 2011 Billionaires
