Xu Rongmao
Xu Rongmao | |
|---|---|
| Born | Template:Birth year and age Shishi, Fujian, China |
| Other names | Hui Wing Mau |
| Occupation(s) | Entrepreneur, property developer |
| Years active | 1988–present |
| Known for | Founder and chairman of Shimao Property |
Xu Rongmao (; born 1950), also recognized by his Cantonese name Hui Wing Mau, is a Chinese-Australian entrepreneur and billionaire. He is the founder and chairman of Shimao Property and ranks among the foremost property developers in Shanghai.
Career
In 1988, Xu allocated close to million yuan to a knitting factory located in his hometown, with the aim of constructing a hotel despite private hotel investments being prohibited at that time. Following the completion of construction, regulatory reforms permitted private ownership of hotels, enabling Xu to become the proprietor of China's inaugural private three-star hotel. He later expanded into developing residential projects and resorts within Fujian province.
Throughout the 1990s, Xu broadened his real estate ventures into Beijing and Shanghai while also initiating property investments in Australia. By 2005, he had moved his family to , Australia.[1] He obtained an MBA through distance education from the University of Adelaide[2][1] and began investing in Australian real estate during the early 1990s. Between 2003 and 2004, Xu was the largest individual contributor to the NSW branch of the Australian Labor Party.[2][1]
In the 2000s, Xu accelerated growth by acquiring publicly traded companies such as Shimao Holdings (listed on the Shanghai Stock Exchange) and Shimao International (previously listed on the Hong Kong Stock Exchange), with privatization of the latter occurring in 2007.Cite error: Invalid <ref> tag; refs with no name must have content Shimao Property went public on the Hong Kong Stock Exchange in 2006.Cite error: Invalid <ref> tag; refs with no name must have content
Personal life
In 2008, Xu revealed interest in purchasing Newcastle United F.C. from its then-owner Mike Ashley.
Net worth
Xu's wealth is monitored on the Financial Review Rich List, as well as on the Forbes China Rich List and the Hurun Report China Rich List. In 2021, Forbes valued his net worth at $10.3 billion. By May 2025, the Financial Review estimated his net worth at AUD 3.89 billion.
| Year | Financial Review Rich List |
Forbes China Rich List |
Hurun Report China Rich List | ||||
|---|---|---|---|---|---|---|---|
| Rank | Net worth (Template:AUD) | Rank | Net worth (Template:USD) | Rank | Net worth (Template:USD) | ||
| 2011 | n/a | not listed | 29 | $2.40 billion Template:Loss | |||
| 2012 | n/a 
|
not listed | 10 
|
$4.00 billion Template:Loss | |||
| 2013 | 7
|
$4.82 billion
|
12 Template:Loss | 8
|
$6.90 billion
| ||
| 2014 | 6
|
$6.35 billion
|
|||||
| 2015 | 5
|
$6.89 billion
|
16 Template:Loss | $5.40 billion | 41 Template:Loss | $35 billion Template:Loss | |
| 2016 | 6 Template:Loss | $5.39 billion Template:Loss | 21
|
$50 billion
| |||
| 2017 | 8 Template:Loss | $5.96 billion
|
22 Template:Loss | $7.22 billion
|
33 Template:Loss | $54.5 billion
| |
| 2018 | 4
|
$9.09 billion
|
19
|
$85 billion
| |||
| 2019 | 4
|
$10.39 billion
|
20 Template:Loss | $95 billion
| |||
| 2020 | 4
|
$18.06 billion
|
n/a | not listed | 23 Template:Loss | $19.10 billion
|
|
| 2021 | 8 Template:Loss | $11.70 billion Template:Loss | |||||
| 2022 | 22 Template:Loss | $4.80 billion Template:Loss | |||||
| 2023 | 19
|
$4.90 billion
|
|||||
| 2024 | 40 Template:Loss | $3.35 billion Template:Loss | |||||
| 2025 | 40
|
$3.89 billion
|
|||||
External links
- Short description with empty Wikidata description
- 1950 births
- Living people
- Hokkien ethnicity
- Individuals from Shishi, Fujian
- Fujian billionaires
- Entrepreneurs from Fujian
- Australian billionaires
- Chinese-born Australian emigrants
- Australian entrepreneurs
- Members of the Chinese People's Political Consultative Conference National Committee
- Hong Kong Election Committee members, 2017–2021
- Hong Kong Election Committee members, 2021–2026
- Chinese real estate entrepreneurs
- Australian naturalised citizens
- Alumni of the University of Adelaide