Wu Xiaohui | The Real Deal New York

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Wu Xiaohui

Founder & chairman
Anbang Insurance Group
Anbang Tower, No. 6, Jianguomenwai Avenue
Chaoyang District, Beijing 100022
(400) 111-1111
95569
Website

Wu Xiaohui is arguably the most mysterious of China’s property moguls. His net worth is $1.1 billion, according to Wealth-X, which provided data to TRD. According to the Financial Times, he has never granted an interview to the press. But this much seems clear: He has worked his way to the top in part by making influential connections and benefiting from ties to China’s ruling Communist Party.

Born in 1966, Wu grew up in rural Pingyang county in eastern China. Today, relatives and acquaintances of his in the province are major shareholders of Anbang, while Wui holds no shares himself, according to a New York Times investigation in September. The practice is known as “white gloves” and common among wealthy Chinese who seek to keep their riches private.

In his younger years, Wu served as a low-level bureaucrat and worked as a restaurant manager, according to the FT. In 1996, he launched a car dealership company. He founded Anbang in 2004, the same year he divorced his second wife and married the granddaughter of former Chinese leader Deng Xiaoping. Media reports have since speculated that Wu’s marriage into China’s elite helps explain Anbang’s subsequent rise, which really took off with a series of high-profile fundraising successes in 2014.

When in New York, he reportedly holds court at a suite in the Waldorf Astoria, which his company officially bought in January 2015. That same month, he participated in a question-and-answer session at Harvard University, during which he referred toBlackstone’s CEO Steve Schwarzman as a good friend and summed up Anbang’s strategy as “pursuing win-win relationships.” According to Wealth-X, he owns a residence in Beijing, where Anbang is headquartered.


04/13/18
...Wu Xiaohui (Credit: Getty Images) As China looks to sell all or part of Anbang Insurance...

04/04/18
...products, leading to fears over its stability. Founder Wu Xiaohui is currently on trial for fraud. Meanwhile, the Waldorf Astoria’s condo conversion appears...

03/28/18
...Wu Xiaohui Former Anbang chair Wu Xiaohui, who is facing charges of falsifying financial reports and hiding benefits to himself while...

03/19/18
...Wu Xiaohui and the Waldorf Astoria Despite China's takeover of Anbang Insurance Group last month, luxury...

03/06/18
...the indictment of the insurance firm’s chairman, Wu Xiaohui, who was charged with financial fraud, the Wall Street Journal reported. Around $20 billion in...

...the indictment of the insurance firm’s chairman, Wu Xiaohui, who was charged with financial fraud, the Wall Street Journal reported. Around $20 billion in...

02/28/18
...The Waldorf Astoria, Wu Xiaohui and U.S. Treasury Secretary Steven Mnuchin (Credit: Getty Images) Before Anbang Insurance Group...

02/26/18
...Jamie Dimon, Wu Xiaohui, Michael Dell and Masa Son (Credit: Getty Images) Meet the new address, same as...

02/23/18
...Wu Xiaohui and the Waldorf Astoria Meet the new boss, very different from the old boss...

02/12/18
...down on overseas spending. And after Anbang Chairman Wu Xiaohui was detained by authorities in June, a team including China’s insurance regulator went...

12/25/17
...appear to be relatives of Anbang’s chairman Wu Xiaohui, who’s married to the granddaughter of legendary Communist Party leader Deng Xiaoping, prompting...

12/22/17
...From top left, clockwise: Wu Xiaohui, Al-Waleed bin Talal, Mikhail Prokhorov and Lubna Olayan From the December issue: It was...

12/12/17
...From left: Guo Guangcheng, Wu Xiaohui and Chen Feng What was once a pantheon of Chinese investors is beginning to...

...From top left, clockwise: Wu Xiaohui, Al-Waleed bin Talal,Mikhail Prokhorov and Lubna Olayan It was just after 11 p.m...

10/30/17
...Anbang’s Wu Xiaohui and the Waldorf Astoria A demolition crew has been hired to begin work on...

08/29/17
...two months after his boss, Anbang’s chairman Wu Xiaohui, was suspended. And Dalian Wanda scrapped plans to pay over $600 million for a site...

08/28/17
...came Anbang’s (Waldorf Astoria, 717 Fifth Avenue) then-chairman Wu Xiaohui. And now, there’s talk of Dalian Wanda Group's (One Beverly Hills) chairman Wang...

08/21/17
...to redevelop Kushner Companies’ 666 Fifth Avenue, suspended chairman Wu Xiaohui in June, following reports that he'd been detained by Chinese authorities. At the time...

07/31/17
...to being something of a pariah: Its chairman Wu Xiaohui went from giving speeches at Harvard and hobnobbing with Henry Kissinger to being detained...

...November election, Kushner had dined with Anbang Chairman Wu Xiaohui and other executives at the Waldorf Astoria amid the ongoing business discussions. Then in...

06/22/17
...Feng and Fosun’s Guo Guangchang and Anbang's Wu Xiaohui Anbang Insurance Group, HNA Group and Fosun International are among five international dealmakers that...

06/15/17
...Wu Xiaohui Chinese authorities have told banks to stop various business dealings with Anbang Insurance Group...

06/14/17
...Wu Xiaohui The chairman of Anbang Insurance Group — which pulled out of negotiations to redevelop Kushner...

06/02/17
...Anbang’s Wu Xiaohui and the Waldorf Astoria China's Anbang Insurance catapulted onto the scene with multibillion-dollar foreign...

05/12/17
...Rendering of Zaha Hadid’s design for 666 Fifth, Wu Xiaohui and Jared Kushner (Click to enlarge) But they’re somewhat weighed down by certain...
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