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Wealth of China's richest hits record high
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CHINA’S richest people saw their average wealth shoot up to a record high as the economic situation improved this year, with real estate tycoon Wang Jianlin leading the pack, the Hurun Research Institute said today.
Holding 135 billion yuan (US$22 billion) in personal assets, more than double his net worth last year, Wang, chairman and founder of Dalian Wanda Group, has replaced beverage magnate Zong Qinghou of Wahaha Group to top the Hurun Rich List this year, a ranking of the 1,000 wealthiest people on the Chinese mainland.
The wealth of Zong, who slipped to second, grew 50 percent to 115 billion yuan, making it the first time with two men worth 12 figures in yuan on the list.
The number of dollar billionaires hit a record high, too, totaling 315 individuals. That’s up 64 from last year, when 469 of the top 1,000 saw their wealth shrink, and 37 lost over 50 percent. Only 291 saw their wealth grow. By comparison, 559 of the richest became richer this year, with 144 experiencing a growth in wealthy of more than 50 percent. That was attributed to a 60 percent hike in China’s ChiNext exchange, the exchange for high-growth start-ups, the Hurun Research Institute said. That brought the average wealth of the top 1,000 up to a record high of 6.4 billion yuan, which more than doubled since the global financial crisis of 2008.
"Strong performance in real estate and IT have driven China’s richest to new records,” said Rupert Hoogewerf, Hurun Report chairman and chief researcher.
One out of four on the list works in the real estate industry, which overtook manufacturing as the biggest source of wealth this year.
Pony Ma, founder and chairman of Tencent, which is one of China’s largest Internet service providers, moved up from last year’s 10th spot to third with 62 billion yuan, as the company’s share prices soared over 50 percent following the runaway success of its communication tool Weixin, or WeChat.
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