Xu Jiayin, chairman of Evergrande Real Estate Group, became the richest person in China with a wealth of 290 billion yuan ($43.84 billion), according to a report by Hurun Research Institute released Oct 12.
Ma Huateng, chairman and CEO of Tencent Holdings, overtook Jack Ma, founder of Alibaba Group Holding, to claim second place with a fortune of 250 billion yuan on the Hurun Rich List 2017 in association with the China-based training platform 36G.
Although Jack Ma only grabbed the third spot with 200 billion yuan, about 43 shareholders of Alibaba and its affiliate Ant Financial made this year’s list with a snapshot of wealth calculations on Aug 15.
This is the 19th annual ranking of the richest individuals in China and the benchmark for being listed has remained 2 billion yuan for five consecutive years.
Here's a list of the top 10 wealthiest Chinese, with two tied at eighth place and two tied at tenth.
No 10 Li Shufu and Li Xingxing (father and son)
Wealth: 110 billion yuan ($16.63 billion)
Company: Zhejiang Geely Holding Group
Industry: Car manufacturing
No 10 Ding Lei
Wealth: 110 billion yuan ($16.63 billion)
Company: NetEase Inc
Industries: IT, entertainment
No 8 Yan Hao and family
Wealth: 115 billion yuan ($17.38 billion)
Company: China Pacific Construction Group
Industry: Roads
No 8 He Xiangjian and He Jianfeng (father and son)
Wealth: 115 billion yuan ($17.38 billion)
Company: Midea Group
Industry: Home appliances
No 7 Li Yanhong and Ma Dongmin (couple)
Wealth: 125 billion yuan ($18.90 billion)
Company: Baidu Inc
Industry: Search engine
No 6 Wang Wei
Wealth: 150 billion yuan ($22.67 billion)
Company: SF Express Group
Industry: Express delivery
No 5 Wang Jianlin and family
Wealth: 155 billion yuan ($23.43 billion)
Company: Dalian Wanda Group
Industries: Real estate, culture
No 4 Yang Huiyan
Wealth: 160 billion yuan ($24.19 billion)
Company: Country Garden Holdings
Industry: Real estate
No 3 Ma Yun and family
Wealth: 200 billion yuan ($30.23 billion)
Company: Alibaba Group Holding
Industries: E-commerce, financial technology
No 2 Ma Huateng
Wealth: 250 billion yuan ($37.79 billion)
Company: Tencent Holdings
Industries: IT, entertainment
No 1 Xu Jiayin
Wealth: 290 billion yuan ($43.84 billion)
Company: Evergrande Real Estate Group
Industries: Real estate, investments
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