Sun Hongbin is a Chinese-American businessman who has a net worth of $1.15 billion. Having built a fortune developing property in his hometown of Tianjin, Sun Hongbin makes his debut among billionaires this year as the chairman of property developer Sunac China Holdings. Sunac’s shares almost tripled in value throughout the last year amid hopes for recovery in China’s real estate market.
Taking advantage of the stock rally, the company successfully raised cash through a January 2013 stock sale, thus reducing Sun’s stake in the company from 51.8% to 47.1%. Sun Hongbin is a U.S. citizen with current residence in Tianjin, China.
| Net Worth: | $1.15 Billion |