In terms of gross domestic product (GDP per capita, China is only ranked in 20th position on the list of the wealthiest countries in Asia. However, it is a country of extremes, with some people living in poverty and others amassing great wealth. Historically, China has been home to many of the world’s wealthiest people. Things have changed a little between2018 and 2019 as China has lost 49 of its billionaires. Despite this, China still has many extremely wealthy residents, and here are the 10 richest people in China in 2019.
10. Colin Huang – $13.5 Billion
Also known as Huang Zheng, this Chinese businessman is the chairman and CEO of Pinduoduo, which is one of China’s largest e-commerce sites. He has been described as a serial entrepreneur, as he has founded several companies throughout his career. Some of the companies that he has founded include online e-commerce platform Ouku.com and online gaming company Xinyoudi. Before founding his own companies, he was an intern for Microsoft and he began his career working for Google in 2004.
9. Li Shufu – $13.6 Billion
Li Shufu is the Chairman of Geely Automobiles, which is one of the largest automaker companies in China. This company also owns Volvo, which was an acquisition made during an expansion program that began in 2010. Other companies in which Geely Automobiles has stakes include Daimler, Lotus, and Terrafugia. Li Shufu has loved cars since he was a child and even made one from sand as a boy.
8. William Ding – $14.7 Billion
William Ding is the CEO of one of the world’s leading online and mobile gaming businesses, Netease. The business partners of this company include Blizzard and Mojang, the latter of which is a subsidiary of Microsoft. In 2003, William Ding topped the list of the richest people in China, although he has since dropped down the ranks. When he was at the top of the list, it was because he was China’s first Internet and gaming billionaire.
7. Zhang Yiming – $16.2 Billion
Zhang Yiming originally became wealthy after founding ByteDance in 2012. He then developed TikTok, a video sharing platform, and Toutiao, a news aggregator. In 2019, ByteDance was valued at $75 billion, making it the most valuable startup in the world.
6. He Xiangjian – $19.5 Billion
He is an entrepreneur who has amassed a fortune of $19.5 billion, says Forbes. He built the Midea Group, which is one of the world’s largest appliance manufacturers. Although he stepped down from operations of this company in 2012, it is still his major source of wealth. He began the company back in 1968 when he recruited 23 local people in a town in Guangdong Province to form a lid production workshop, and his company expanded from there. His company now has more than 200 subsidiaries.
5. Yang Huiyan – $22.1 Billion
In 2007, Yang Huiyan’s father transferred most of his stake of Country Garden Holdings over to her. She now owns 57 percent of this real estate development firm, although her younger sister is also on the board. In addition to Country Garden Holdings, Yang also chairs Bright Scholar Education Holdings, which is a company that went public in 2007. Before becoming a businesswoman, Yang obtained a degree from Ohio State University.
4. Wang Jianlin – $22.7 Billion
Forbes lists Wang Jualin as the fourth wealthiest man in China with a net worth of $22.7 billion. He is the Chair of a company called Dalian Wanda Group. This is a real estate investment company that invests in many sectors, including movie theaters, finance, and real estate. It is one of the world’s biggest real estate developers and the have over 260 plazas in China. Wang went on a mass spending spree for several years but has now started selling off many of his assets. In 2017, he sold his hotel and tourism portfolio for $9 billion. He then sold his stake in Atletico de Madrid the following year. However, he still operates one of China’s largest movie theater chains and he owns Legendary Entertainment, a U.S. film studio.
3. Hui Ka Yan – $36.2 Billion
Hui Ka Yan has accrued a net worth of $36.2 billion as the founder and Chairman of the Evergrande Group. He founded this Hong-Kong listed company in 1996 in Guangzhou. Before that, he had worked in the steel industry for 10 years. When he founded his property company, he started by buying a few small properties. His company is now one of the biggest real estate developers in China. He took the company public in 2009, and the company now operates as many as 800 projects in over 280 cities in China. His son, Xiu Zhijian, is the vice president of the company.
2. Jack Ma – $38.4 Billion
Jack Ma is a former English teacher who went on to become the co-founder and Chair of the Alibaba Group. This is one of the world’s largest e-commerce businesses. He is planning on resigning from his position as chair, and he made this announcement back in 2018. It is intended that the company’s CEO Daniel Zhang will succeed him as the Chair. In addition to his wealth from his position at the Alibaba Group, he has lucrative investments in many other businesses. These include stakes in several firms in the Chinese entertainment industry, such as Beijing Enlight Media and Huayi Brothers.
1. Ma Huateng – $38.8 Billion
According to Business Insider, Ma Huateng is the richest person in China with a net worth of $38.8 billion. Also known as Pony Ma, he is the Chairman of Tencent Holdings. This is the Internet giant that is the biggest Internet company in China. It owns various smaller companies, including WeChat, which has over one billion users and is one of China’s most popular apps.