What is Huang Guangyu's Net Worth?
Huang Guangyu is a Chinese businessman who has a net worth of $3.25 billion. Huang Guangyu is best known for being a former Chairman, Executive Director and Controlling Shareholder of Gome Group, China's largest consumer electronics retailer. Mr. Huang was the man who turned Gome Electronics into China's largest retailer of appliance with an estimated value of $6.3 billion in 2008. But the same year, the company went through a quick fall because of a widespread complaint of misconduct among billionaire entrepreneurs in China. On November 24, 2008, Huang Guangyu's shares were frozen by the Hong Kong Stock Exchange due to an ongoing investigation.
Under accusations of bribery, tax evasion and similar actions, he was sentenced to 14 years in prison, an action that was seen as a warning to the business executives in China. It was on January 16, 2009 that he resigned from his post as the group's Chairman. But the now imprisoned Guangyu didn't generate all of his wealth from Gome. He also concentrated his riches in real estate. Furthermore, he owns a Beijing-based company called Pengrun Investment.
