Billionaire Builder of China – David Barboza

From The New York Times:

There are only 10 known billionaires in China, and he is one of them. His name is Xu Rongmao, and he is no Donald Trump, Sam Zell or Mortimer Zuckerman. He’s bigger.

Xu Rongmao is said to be a secretive man. Little is known about how he earned his early fortune and developed his network of political allies.

Mr. Xu, who is the chairman of the Shimao Group, controls much more land than any private developer in America and builds luxury real estate projects that put even Mr. Trump to shame for their sheer scale and flamboyance. But unlike the ubiquitous Mr. Trump – who is never at a loss for words and goes out of his way to attract the attention of cameras – Mr. Xu almost never grants interviews and is highly secretive about his operations.

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December 29, 2005 3:19 PM
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Categories: Economy