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Hurun Ranks Alibaba Founder, Jack Ma The Richest in China



The founder and head of Alibaba, 54-year-old Jack Ma for the second time in the last four years, topped the list of the richest people in China according to the Chinese business publication Hurun (the Chinese equivalent of Forbes). The report, published on Wednesday, the 20th annual rating, stated that Jack Ma’s financial worth increased by 35% and is estimated to be at $ 39.1 billion.

The second spot of the rating was taken by the chairman of the board of a large development company, Evergrande Group, 60-year-old Xu Jiayin. His personal fortune shrunk by 14% to reach $ 36.2 billion. Ma Huateng, who heads Asia’s largest telecom giant Tencent, comes at the third spot. His net worth was estimated to be at $ 34.8 billion.

The number of dollar billionaires in China over the past year decreased by 27 to reach 620. According to Hurun, this year the share of women rose to record levels – almost a third of the participants in the ranking – 28.7%.

According to to the report, most of the billionaires do business in manufacturing, real estate, investment and IT. The average age of participants was 55 years old, which is a year more than in 2017.

The 2018 Hurun China Rich List ranking has been published since 1998. The minimum limit for entering the list of participants is a state of 2 billion yuan (about $ 290 million).

More News at EurAsian Times




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