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.


01/29/19
...appear to be relatives of Anbang’s chairman Wu Xiaohui, who’s married to the granddaughter of legendary Communist Party leader Deng Xiaoping, prompting...

01/09/19
...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...

11/21/18
...but ultimately paid $5.5 billion. Anbang’s former chairman Wu Xiaohui was sentenced to 18 years in prison in May on convictions of fraud and embezzlement...

08/23/18
...portfolio is limited. In May, its former chairman, Wu Xiaohui, was sentenced to 18 years in prison after being convicted of fraud and embezzlement. Other...

08/20/18
...of its operations. In May, its former chairman, Wu Xiaohui, was sentenced to 18 years in prison after being convicted of fraud and embezzlement. Other...

05/31/18
...Wu Xiaohui (Credit: Getty Images and Carles Rabada on Unsplash) Wu Xiaohui is not going down...

05/10/18
...Wu Xiaohui (Credit: Getty Images) Wu Xiaohui, the former chairman of Anbang Insurance Group, has been sentenced to 18 years in prison...

04/27/18
...regulator seized control of Anbang after its chairman, Wu Xiaohui, was prosecuted for economic crimes. In the same month, Hilton, which manages the hotel...

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...