Wanda chairman Wang Jianlin ranks on top of the list with a fortune estimated at $34.4 bil
Dalian Wanda chairman Wang Jianlin stands atop a list of China’s wealthiest people this year, as rising share values and renewed enthusiasm for the property sector pushed three of China’s property barons into the ranks of China’s wealthiest people, as measured by the Hurun Report.
Wang’s personal fortune was estimated in the report at $34.4 billion, after the $3.7 billion IPO of his Dalian Commercial Properties on the Hong Kong stock exchange last December, and the $203.26 million IPO of his Wanda Cinema Line theatre chain on the Shenzhen exchange in January, helped to propel him to the top spot. Shares in Wanda Cinema line have climbed more than 550 percent since their debut.
Joining Wang in China’s top 10 are China Oceanwide Holdings chairman, Lu Zhiqiang, who ranked eighth overall with a fortune estimated at $13 billion, and Thai-Chinese property tycoon Yan Bin, chairman of the Reignwood Group, who placed tenth with assets valued at $10.2 billion.
China’s Biggest Real Estate Billionaires – The Gallery
-
- Wang Jianlin’s Dalian Wanda is being accused of influence buying in LA
-
- #2 Lu Zhiqiang, chairman of China Oceanwide Holdings
-
- #3 Yan Bin of Reignwood Group
-
- Evergrande boss Xu Jiayin hopes his BMW investment is an easier ride than his spring water deal
-
- #5 Chen Lihua of Fu Wah International
-
- #7, Wang Wenxue of China Fortune Land Development, net worth $4B
-
- #8 Huang Wei of Xinhu Zhongbao
-
- #9 Hui Wing Mau (Xu Rongmao) of Shimao Property
-
- The buyers of the Nanchang mall are said to be related to Hopson chairman Zhu Mengyi
Ten Real Estate Developers Rank in Top Fifty
Coming in just below Yan Bin at thirteenth on Hurun’s list is Xu Jiayin, the flamboyant chairman of Evergrande Real Estate, who also owns half of successful football club Guangzhou Evergrande. Xu, who is also known by his Cantonese name, Hui Ka-Yan, was estimated to have personal assets of $9.4 billion.
In all, ten of China’s 50 richest people, as measured in the survey, come from the property industry, with the owners of major development firms including Fu Wah International, Fortune Land Development, Country Garden Holdings, Xinhu Zhongbao Ltd, Shimao Property Holdings, and Hopson Development all being ranked among the elite group. (See table below for full details).
Technology Still Dominates the Top 10
While China’s richest non-real estate person, Alibaba chairman Jack Ma, saw his fortune shrink by three percent last year as his company’s stock price slid, the technology sector still placed the most billionaire’s in Hurun’s top ten.
Other techies behind Ma, who placed second on the list with a fortune estimated at $22.7 billion, were Tencent’s Pony Ma who placed fourth with assets valued at $18.8 billion, Xiaomi’s Lei Jun, who placed fifth at $14.4 in assets, and Baidu’s Robin Li, who placed seventh with a fortune estimated at $13.3 billion.
While China’s tech sector edged out property in the top ten, real estate still was the most common source of wealth among China’s fifty richest tycoons, with 10 of the top 50 tracing their fortunes to the industry, compared to eight coming from the technology sector.
| Overall Rank | Name | Wealth US$B | Company |
|---|---|---|---|
| 1 | Wang Jianlin & family | 34.4 | Dalian Wanda Group |
| 8 | Lu Zhiqiang & family | 13.0 | China Oceanwide Holdings |
| 10 | Yan Bin | 10.2 | Reignwood Group |
| 13 | Xu Jiayin (Hui Ka-yan) | 9.4 | Evergrande Real Estate |
| 19 | Chen Lihua | 7.7 | Fu Wah International |
| 21 | Wang Wenxue | 7.5 | Fortune Land Development |
| 30 | Yang Huiyan | 6.3 | Country Garden Holdings |
| 37 | Huang Wei & Li Ping | 5.8 | Xinhu Zhongbao Ltd |
| 41 | Xu Rongmao (Hui Wing Mao) & family | 5.5 | Shimao Property Holdings |
| 49 | Zhu Mengyi & family | 4.7 | Hopson Development Holdings, Pearl River Holdings |
Leave a Reply