The mansion in London is owned by the founder of Evergrande.
Cheung Chung-kiu was thought to be the owner.
His net worth plummeted as he sold off his assets.
Two years after it was last sold, a $227 million mansion in London is up for grabs, and it is owned by the founder of a Chinese real estate empire.
The "private palace" overlooking Hyde Park went on the market again after it was reported that it had been sold to a Chinese billionaire for more than 200 million dollars.
The 2-8a Rutland Gate property is actually owned by the founder of Evergrande, and one of China's richest men, according to five people cited by the Financial Times.
The paper reported that Cheung CC Land sells projects to Evergrande in China.
A British Virgin Islands company called Vision Perfect Global is said to have bought the property from a company in the Dominican Republic.
Two CC Land executives were named as directors of a company where Hui's wife held 25% or more of the company.
Since July 2020, when Evergrande's shares plummeted amid a $300 billion loan default, Hui's net worth has plummeted.
The tycoon, who is worth $6 billion, has been forced to sell off shares in the company as well as his own possessions to pay company debts after the Chinese government refused to bail them out.
The London home, which was purchased in January 2020 when the billionaire's net worth was over $30 billion, is the latest asset to be auctioned off, according to an investigation by the Financial Times.
Middle Eastern royal families and super-rich American investors were among seven people who toured the seven-storey mansion since it quietly went on the market a couple of weeks ago.
Four grand family homes were built in the 1830s before being converted into one huge residence in the 1980's.
Cheung was given the go-ahead to build an eight-storey, 62,000- square-foot private palace on the residence last year.
Business Insider has an article on it.
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