Chinese Billionaire On A $250 Million Luxury Real Estate Buying Spree [Yahoo! Finance]
Alibaba Group Holding Limited American Depositary Shares each representing eight Ordinary share (BABA)
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Source: Yahoo! Finance
But Xu Hang, co-founder of Chinese medical device manufacturer Mindray Medical, is on a real estate buying spree that would make a Saudi oil magnate blush. In the last few years, buyers connected to Xu have bought $250 million worth of luxury estates around the world. The purchases are notable both for the money paid and that Xu is from mainland China, where a deeply troubled real estate market has stifled the economy. However, Xu's business is in medical devices, and his company made a fortune selling ventilators during the COVID-19 crisis. He is one of China's richest men, although he carries a much lower profile than his contemporaries like Alibaba Founder Jack Ma. Don't Miss: Investing in real estate just got a whole lot simpler. This Jeff Bezos-backed startup will allow you to become a landlord in just 10 minutes, and you only need $100. Want To Grow Your Wealth Passively? Unlock Real Wealth with Cityfunds' Exclusive 8% Yield Fund It could be Xu's desire to maintain a
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News
- Alibaba (BABA) Q4 Earnings Beat Estimates, Revenues Rise Y/Y [Yahoo! Finance]Yahoo! Finance
- Tanking Profit Overshadowed Alibaba's AI Growth And Reignited Domestic E-Commerce [Yahoo! Finance]Yahoo! Finance
- Alibaba Group Holding Limited (NYSE: BABA) had its price target lowered by analysts at Truist Financial Co. from $113.00 to $110.00. They now have a "buy" rating on the stock.MarketBeat
- Alibaba: The Stock Is Cheap, Since Net Income Needs To Fall To $284.9M To Be Fairly Valued [Seeking Alpha]Seeking Alpha
- Alibaba Group Holding Limited (NYSE: BABA) had its price target lowered by analysts at Citigroup Inc. from $124.00 to $122.00. They now have a "buy" rating on the stock.MarketBeat
BABA
Earnings
- 5/14/24 - Beat
BABA
Sec Filings
- 5/14/24 - Form 6-K
- 5/13/24 - Form 13F-HR
- 4/30/24 - Form 6-K
- BABA's page on the SEC website