More information has emerged about Perenna Kei, the 24 year old Hong Konger named the world's 'youngest billionaire' by Forbes this month.
According to a new report by the SCMP, Kei is originally from Chinese mainland, probably Shantou, Guangdong province where her father, Ji Haipeng still lives. Kei's residency in Hong Kong and position as head of Logan Property Holdings enables her father's business empire to avoid Chinese taxes.
Perenna Kei Hoi-ting became a US dollar billionaire after the company in her name, Logan Property Holdings, was listed in Hong Kong on December 20 last year. Her wealth increased following the listing as Logan’s share price rose from HK$2.10 to HK$2.36 on March 19. Forbes put her net worth at an estimated US$1.3 billion.
According to WealthX, an international firm that collates information on the world’s ultra-wealthy, Kei, whose name in Putonghua is Ji Peili, holds liquid assets of at least US$6.5 million and lives in Tsim Sha Tsui.
But despite the reported fortune that suggests a savvy businesswoman who built a mainland real estate empire, Logan’s IPO prospectus paints a different picture. And analysts believe the real power lies behind her throne, with the company using her name and Hong Kong status to minimise taxes and avoid having to reveal the secretive offshore companies owned by her family. This practice is not illegal.
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