Asia's Richest Woman Hands Over Her Seat

China's Yang Huiyan hands over her seat to India's Savitri Jindal. As the mortgage boycott in China put pressure on real estate companies, the wealth of investors holding these companies' assets declined. After the boycott, China's Yang Huiyan, the richest woman in Asia, handed over her seat to Indian Savitri Jindal.

The mortgage boycott in China's real estate sector caused changes in the ranking of Asia's richest women. Indian citizen Savitri Jindal overtook Chinese Yang Huiyan to become the richest woman in Asia. Savitri Jindal's $11.3 billion fortune is based on the Jindal Group, which operates in different business lines such as metals and energy. Indian Jindal is the 10th richest person in his country. Jindal took the helm of affairs after the death of his wife OP Jindal, the founder of the holding, in a helicopter crash in 2005. China's Yang, whose wealth is based on activities in the real estate sector, saw his fortune decline to $ 11 billion with the effect of the decline in China's largest real estate company Country Garden, in which he has a 60 percent stake.