Chinese billionaire splurges over $250 million on luxurious mansions across the globe
- Xu Hang and his wife Gu Fang have been making headlines for their lavish acquisitions
- They also made headlines in the United States with their purchases of high-profile properties
- Xu saw his net worth soar during the COVID-19 pandemic
Published on Apr 17, 2024 at 4:37 PM (UTC+4)
by Daksh Chaudhary
Last updated on Apr 17, 2024 at 4:43 PM (UTC+4)
Edited by
Tom Wood
Luxury living is the norm for billionaires, and this Chinese billionaire couple stands out for their extravagant purchases across the globe.
Meet Xu Hang and his wife Gu Fang.
The couple has been making headlines for their lavish acquisitions of mansions worth over $250 million.
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Their journey into the world of ultra-luxury real estate began with the purchase of a stunning hilltop mansion in Hong Kong’s prestigious Peak neighborhood.
This nearly 12,000-square-foot mansion, with breathtaking views of the city, was sold for a whopping HK$838 million.
The acquisition made waves not only for its price tag but also for being one of the largest real estate deals in Hong Kong in recent years.
But Xu and Gu didn’t stop there.
The Chinese couple also made headlines in the United States with their purchases of high-profile properties.
This included the Newport Coast mansion of TV stars Dr. Terry and Heather Dubrow, and the Beverly Hills mansion of Mark Wahlberg.
These acquisitions, totaling $110 million, further cemented Xu and Gu’s reputation as discerning buyers of luxury real estate.
What sets Xu and Gu apart is not just their eye for opulent homes but also their remarkable rise in wealth.
Xu, the co-founder of Mindray Medical, China’s largest medical device manufacturer, saw his net worth soar during the COVID-19 pandemic.
As the demand for medical equipment skyrocketed, so did Xu’s fortune, with his net worth reaching $12.1 billion in 2023, according to the Bloomberg Billionaire Index.
Their latest purchase, a penthouse in New York City’s Time Warner Center, adds to their impressive real estate portfolio.
Billionaires have always competed for the most extravagant purchases, and Xu and Gu’s acquisitions surely stand out.
Their story mirrors that of other billionaires, such as Jeff Bezos, who recently made headlines for his purchase of a luxurious property in the Miami area known as the ‘Billionaire Bunker’.
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