Record 400 billionaires from China in Forbes rich list
October 31, 2016 Category Macro-economy, Weekly
Wang Jianlin, Chairman of Dalian Wanda Group, retains the No. 1 spot in the latest Forbes list of China’s richest, with a CNY215 billion fortune. This year there are a record 400 billionaires and billionaire families from mainland China on the list, up from 335 a year ago. Total wealth held by the 400 on the list grew 14% to USD947 billion from USD830 billion a year earlier. Jack Ma, Founder of Alibaba Group, ranked second, with his wealth climbing nearly 30% from USD21.8 billion last year to USD28.2 billion. Tencent Chairman Ma Huateng saw his wealth soar from USD17.6 billion last year to USD24.5 billion this year, an increase attributed to a roughly 45% rise in Tencent’s Hong Kong-traded shares in the past year. The top three billionaires are the same as on the recently published Hurun China Rich List 2016. “The increase in the number of billionaires and billionaire families shows that great business opportunities exist in China as the country’s structural changes continue.” said Russell Flannery, Senior Editor of the Forbes China Rich List. The Forbes list ranked Wang Wei, Chairman of the delivery service SF Express, as fourth wealthiest person in China worth USD18.5 billion. His net wealth soared from USD4 billion last year, after the parent company SF Holdings Group, in which he has a 68% stake, received government approval for a stock market listing. William Ding at NetEase staged a dramatic rise from No. 10 to No. 5 on the list, passing Baidu’s Robin Li.
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