Yao Zhenhua (born 1969/1970) is a Chinese

billionaire A billionaire is a person with a net worth of at least one billion (1,000,000,000, i.e., a thousand million) units of a given currency, usually of a major currency such as the United States dollar, euro, or pound sterling. The American busin ...

businessman, and the chairman of

Baoneng Group The Baoneng Group (legal name Baoneng Investment Group Co., Ltd.) is a Chinese property and financial services conglomerate controlled by Chinese billionaire Yao Zhenhua, China's 52nd-wealthiest person as of August 2020. History The first predec ...

Career

In 1992, Yao founded

, which now has over 40 shopping malls in China. In February 2017, Yao was banned from China's insurance industry for ten years after a failed takeover bid for

Vanke Vanke () is a large residential real estate developer in China. It is engaged in developing, managing and selling properties across more than 60 mainland Chinese cities in the Pearl River Delta, Yangtze River Delta and Bohai-Rim Region, with th ...

by a Baoneng company,

Foresea Life Insurance The China Evergrande Group is the second largest property developer in China by sales. It is ranked 122nd on the ''Fortune'' Global 500. It is incorporated in the Cayman Islands, a British Overseas Territory, and headquartered in the Houhai ...

Personal life

Yao lives in

Shenzhen Shenzhen (; ; ; ), also historically known as Sham Chun, is a major sub-provincial city and one of the special economic zones of China. The city is located on the east bank of the Pearl River estuary on the central coast of southern province ...

, China.

References

Living people Billionaires from Guangdong Businesspeople from Guangdong Year of birth missing (living people) {{China-bio-stub