Bloomberg Billionaires Index

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# 263 Cai Kui $6.71B

Random fact: Studied engineering at Nanjing Aeronautics and Astronautics University.

Overview

Cai was married to Chinese billionaire Wu Yajun, chairman of Longfor Properties. Cai owns 27 percent of the Beijing-based company, which builds and manages residential and commercial property projects and had revenue of 115.8 billion ($17.5 billion) yuan in 2018. The couple split their ownership when they divorced in 2012.

As of :
Last change +$28.6M ( +0.4%)
YTD change +$1.89B ( +39.2%)
Industry Real Estate
Biggest asset 960 HK Equity
Citizenship China
Age 56
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Cai Kui's net worth of $6.71B can buy ...

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troy ounces of gold
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barrels of crude oil

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of the GDP of the United States
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of the total wealth of the 500 richest people in the world
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of the top 100 U.S. college endowments
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of the top 200 U.S. executives’ total awarded compensation
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of U.S. existing home sales
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times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

The majority of Cai's wealth is derived from a stake in Longfor Properties, a Beijing-based developer. Cai was married to Chinese billionaire and Longfor Chairman Wu Yajun until their divorce in 2012, when they split a jointly held 75.6 percent stake. Wu took 45.4 percent and Cai 30.2 percent. After stake sales in 2016 and 2019, he now holds a stake of 23 percent, according to a January 2019 Hong Kong exchange filing. Cai holds his Longfor shares through a family trust.

The value of his cash investments is based on an analysis of dividends, insider transactions, taxes and market performance.

Shao Yuqun, a spokeswoman for Longfor declined to comment on the net worth calculation.

Biography

Birthdate: 1/1/1963
Family: Divorced, No children
Education: Nanjing University of Aeronautics & Astronautics

Cai was born in January 1963 in Chongqing, China's largest municipality. In 1992, he married his future business partner Wu Yajun, who is also from Chongqing, quitting his job at a state owned airplane maker in Chengdu to start a trading company in their hometown. Wu left her job working as a journalist for a real estate newspaper a year later.

The couple encountered a series of problems when they bought their first apartment, an 80-square-meter flat (861 square feet) in Chongqing. The closing was delayed for a year, natural gas wasn't available, the lighting was poor and the elevator service hours were limited. The experience led them to open a business that would build better homes in China and in 1994 they founded the predecessor of Longfor Properties.

Longfor sold its first residential project in 1997 for $157 per square meter, more than double the average household income in China at the time. Since then, Wu, its chairman, has expanded Longfor into 13 other Chinese cities and moved its headquarters to Beijing. The company raised $1 billion in a 2009 initial public offering in Hong Kong.

They divorced in 2012 and Cai took about 40 percent of Longfor shares the couple used to own together, and left his executive role at the property developer.

Milestones
  • 1992 Cai Kui marries to Wu Yajun.
  • 1993 Co-founded the predecessor of Longfor in Chongqing with Wu.
  • 1997 Longfor's first project breaks ground in Chongqing.
  • 2002 Develops a shopping mall in Chongqing, it's first commercial project.
  • 2006 Builds its first project outside Chongqing in neighboring Chengdu.
  • 2009 Longfor sells shares in Hong Kong, raising $1 billion.
  • 2011 Wu Yajun steps down as CEO but stays on as chairman.
  • 2012 Cai Kui divorces Wu Yajun; splits shares with Wu.