Evergrande boss sells mansions, jets to pay debt

Ailing Chinese property developer Evergrande faces a battle to pay its debts.

With around $300 billion in liabilities it's been lurching from one deadline to another, often paying at the last minute.

Now it looks like that's taking a very personal toll on Chairman Hui Ka Yan.

He's reportedly been selling off luxury assets to help pay the debts.

Filings at Hong Kong's Land Registry show he's pledged three luxury homes in the city to investors.

Real estate agents say each is worth over $100 million.

Then there are his aircraft.

A Reuters source says Hui has sold two Gulfstream jets in recent weeks.

Media reports say he also owns a private Airbus, and a 60-meter yacht, but there's no word on their fate.

Less obvious assets are also up for grabs.

The source says the billionaire has also been selling some of his art and calligraphy collection.

Hui rose from humble origins in a Chinese village.

Four years ago his net worth was estimated at $45 billion.

But it's now thought to be down to around $11 billion.

Chinese authorities have told him to use some or all of his wealth to help Evergrande honor its debts.

There has been no word from him or the company on any of the reported sales.

Hui is also a big collector of valuable Koi carp, a traditional symbol of good fortune in Chinese culture.

Right now though, his fortune - in every sense - seems to be running short.

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