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

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.


02/23/17
China’s insurance giants have hit the brakes on their $100 billion buying spree following a regulatory squeeze on speculation and new limits on outbound capital....

01/13/17
Donald Trump was the elephant in the Waldorf Astoria hotel’s ballroom Thursday night, as Chinese and U.S. business leaders gathered for a gala dinner and...

01/11/17
As China’s insurance giants grow and snap up properties in New York and elsewhere, observers and regulators are increasingly worried about the industry’s reliance on...

01/09/17
The era of the $4 billion office tower is upon us. Related Companies and Oxford Properties Group are pegging the cost of 50 Hudson Yards,...

01/08/17
UPDATED, 4:02 p.m., Jan. 8: Jared Kushner is poised to step down as CEO of Kushner Companies, his attorney told the New York Times. The...

11/10/16
Anbag Insurance Group filed plans Thursday to renovate the iconic Waldorf Astoria. The filings offer the first detailed look into the new owner’s vision to...

09/27/16
Anbang Insurance Group closed on its acquisition of the Strategic Hotels & Resorts portfolio from the Blackstone Group. The Chinese insurance company bought 15 of...

09/16/16
Under pressure from preservationists, Anbang Insurance Group has agreed to maintain the distinctive Art Deco interior of the Waldorf Astoria during its condominium conversion of...

09/02/16
Who really owns the Waldorf Astoria Hotel? Turns out the answer is surprisingly hard to come by. Tags: anbang, waldorf astoria ...

06/27/16
Anbang Insurance Group plans to shut down the Waldorf Astoria hotel for up to three years while it converts the majority of the rooms into condominiums. ...

06/20/16
In 2004, after the Elad Group paid $675 million for the Plaza Hotel, it poured another $400 million into the iconic property and converted a...

06/14/16
The new Chinese owner of the legendary Waldorf Astoria is planning to turn up to 1,000 rooms at the storied Midtown hotel into condominiums. Tags: anbang, NYC...

05/09/16
China’s insurance regulator plans to investigate Anbang Insurance Group amid its recent U.S. real estate investment binge. Tags: anbang ...

04/04/16
Financing and regulatory questions, along with an odd negotiating approach, ultimately doomed Anbang Insurance Group’s bid for Starwood Hotels & Resorts. Anbang retracted its $14...

04/01/16
Wu Xiaohui could have at least taken Thomas Mangas out for dinner: Anbang Insurance Group reportedly withdrew its $14 billion bid for Starwood Hotels &...

03/31/16
If Anbang Insurance Group wins its bidding war for Starwood Hotels & Resorts, the hospitality firm would still have a lot of work to do...

03/29/16
Anbang Insurance Group has burst onto the world stage in the last two years, making splashy, high-dollar purchases, but much about the company’s internal structure...

03/28/16
Anbang Insurance Group, undaunted by competition from Marriott International, further upped its bid for Starwood Hotels & Resorts, now offering $14 billion. Tags: anbang, Marriott International,...

03/22/16
The drama around the sale of Starwood Hotels & Resorts may yet continue. Tags: anbang, Marriott International, starwood hotels and resorts ...

03/21/16
The bidding war for Starwood Hotels & Resorts may finally have come to an end. Tags: Marriott International, starwood hotels and resorts ...

03/18/16
Starwood Hotels & Resorts accepted Anbang Insurance Group’s $13.2 billion takeover offer with the Chinese insurance giant acquiring the hotel owner and operator. Anbang will...

03/17/16
UPDATED, March 17, 1:55 p.m.: In a single weekend, Anbang Insurance Group laid out $19.3 billion in cash to acquire two marquee U.S. hotel portfolios,...

Jonathan Grey Essex House 160 Central Park South Wu Xiaohui thumb
03/14/16
Anbang Insurance Group is vastly expanding its U.S. hotel presence. Tags: anbang, blackstone group ...

12/29/15
UPDATED, Dec. 29, 10:25 a.m.: What do the 10 biggest New York City investment sales of 2015 have in common? All the deals, whether they...

12/01/15
Chinese insurers are expected to spend US$73 billion in acquiring overseas properties over the next five years as they speed up diversification, according to a...
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