Evergrande's billionaire founder has been bailing out the business. That can't continue
CNN
Evergrande is staring down about $8 billion worth of debt obligations due to foreign investors over the next year. The company's billionaire founder and chairman may have to pay at least some of that out of his own pocket.
The embattled conglomerate has become the poster child of China's property crisis. Fears that the real estate developer could default and spark a contagion effect roiled global markets in September. In its latest financial stability report, the United States Federal Reserve warned that "stresses in China's real estate sector could strain the Chinese financial system, with possible spillovers to the United States."
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