The latest Hurun report, The China Rich List 2016, sees Wanda Group Chairman Wang Jianlin, retain his crown as China's richest person with a fortune of $32.1bn.
The Hurun Report is the most accurate and long standing indicator of Chinese wealth. The latest edition is the 18th annual ranking of the richest individuals in China. Wealth calculations are a snapshot of 15 August 2016, the same date as previous years.
Wealth creation in Asia is now pulling away from the U.S. There are now 754 Chinese billionaires in the world, China has 594, down 2 from last year; HK, Taiwan and Macao have 94; and there are 66 others in the world, mainly in SE Asia. This compares with 535 billionaires in the US, according to the Hurun Global Rich List 2016 released in February.
Jack Ma and Wang Jianlin Remain Wealthiest
Wang Jianlin of Wanda managed to hold onto his top spot, despite a 41 percent surge in the wealth of Jack Ma (pictured). Wang made headlines in August for recommending to wannabe entrepreneurs that they should first set themselves a 'small target of 100 million CNY’. In September, Wang delisted his property arm from the HK stock exchange with a view to relisting on the mainland with a higher valuation.
Alibaba Most Valuable Company
Should Wang manage to get his property arm listed on the domestic stock exchange, this could well propel him to a $50bn fortune, making the world’s Top 10 for the first time.
Wang completed the $3.5bn acquisition of Hollywood studio Legendary Entertainment, cementing his reputation as a global media player and one of the Hurun Rich List’s most active on the global stage. His high-profile son Wang Sicong, has seen his own fortune rise by a third to US$900m.
Jack Ma Yun and his family saw his wealth rise 41 percent to $30.6bn, on the back of a surge in the value of Alibaba, and a B-round investment valuing Ant Financial, mothership of Alipay, at US$60bn.
Alibaba, at US$26.7bn, is the most valuable company on the list.
