The annual ranking estimates the Alibaba founder’s fortune at around $39 billion, up 35 percent from last year, enough to surpass both real estate tycoon Xu Jiayin and Tencent CEO Pony Ma, who rank second and third before a $13 billion drop off to fourth place. Here’s the top 10:
While the richest of the rich are still getting richer in China, the same can not be said of all the country’s fabulously wealthy. Though 2,130 individuals made the 2 billion yuan ($288 million) cut off last year for inclusion in the list, only 1,893 did so this year. Meanwhile, the number of dollar billionaires in China dropped by 27 to 620.
Hurun Report Chairman Rupert Hoogewerf blamed these decreases on the US-China trade war and China’s struggling stock exchange. It marks the first such drops since 2012 when there were only 251 dollar billionaires. A decade before that, there were zero.
Here’s some more interesting factoids from the report:
- 7 percent of those who made the list are surnamed Wang. 6.9 percent surnamed Li.
- 11.7 percent were born in the Year of the Rabbit, ahead of the Year of the Dragon at 10.5 percent.
- 15.5 percent live in Beijing, only 8.5 percent live in Shanghai.
- 28.7 percent of those on the list are women, including #4.
- Only 7.5 percent are delegates to the NPC or CPPCC.
- There are 219 new faces, led by Colin Huang, the founder of China’s newest e-commerce giant Pinduoduo at 13th with a fortune of $14 billion.
- Haidilao CEO Zhang Yong made the top fifty with his wealth growing ten-fold after his hot pot company’s Hong Kong IPO last month.