The Hurun Report on Thursday released its China Rich List 2015 with Chinese real estate tycoon and Chairman of Wanda Group, Wang Jianlin, 61, replacing Jack Ma as the richest man in China, with total wealth of RMB 220 billion (USD 34.6 billion)
Jack Ma, 51, the executive chairman of e-commerce giant, Alibaba Group, ranks second place with total wealth of RMB 145 billion. Alibaba set records this year with altogether, 18 senior managerial staff including, Jack Ma, featured on the rich list. Zong Qinghou, 70, founder of China’s largest beverage producer, Wahaha Group, remains at third place with RMB 135 billion.
The number of billionaires in mainland China has grown from 242 to 596 with total numbers for the Greater China Region at 715, including 119 from Hong Kong, Taiwan and Macao. It is the first time China has outnumbered America in the billionaire stakes with American billionaires numbering only 537.
About 90% of the new billionaires are from domestic IT and manufacturing related companies. The Chinese stockmarket’s third board – which lists public small and medium-sized enterprises – has become a new engine for minting billionaires, with 14 entrepreneurs represented from eight different companies.
The IT industry enjoyed the highest growth among the billionaire generating industries, marking a 43% increase from last year. Billionaires from the manufacturing and real estate industries continue to occupy half of the list, though the proportion of billionaires coming from the real estate industry has dropped from 50% in 1999 to a record-low 16.1% this year, according to Rupert Hoogewerf, publisher of the Hurun Report.
In terms of age groups, 56 billionaires are aged between 35 to 45 years old. 35-year-old Wang Tao, CEO of DJI, the world’s leading drone producer, has a total wealth of RMB 22 billion. There are as yet no billionaires born in the 1990s represented on the list.
In terms of location, Beijing remains the most favorable place for billionaires, witnessing a rise in billionaries from 180 to 279 this year. Shenzhen ranks second with 172 billionaires, while Shanghai ranks third with 137 billionaires.
(Photo from Baidu Image)