Meet China’s 10 Richest Real Estate Tycoons

Dalian Wanda’s Wang Jianlin this year regained his spot on top of a list of China’s wealthiest people, with the country’s ten richest real estate tycoons boasting total assets of nearly $74 billion, according to the annual Forbes China Rich List.

Wang, who ranked fourth last year with assets estimated at $13.2 billion, saw his net worth soar in 2015 after two of his companies went public, doubling the value of his holdings to $30 billion, according to Forbes’ reckoning.

The good fortunes of the Wanda boss allowed him to be one of only two real estate magnates to score among the ten richest in China, with Internet investors dominating the top of Forbes rankings.

Real Estate Recovery Doesn’t Bring Billionaire Rebound

Despite the surge in Wang’s holdings, the only other real estate figure to land in China’s top 10 was Evergrande boss Xu Jiayin (also known by his Cantonese name, Hui Ka Yan), who placed eighth among China’s wealthiest people, with assets estimated at $8.7 billion.

The 2015 results were a significant move up from 2014 for Xu, when the Guangzhou-based developer placed 15^th overall, with assets estimated at $5.9 billion. Despite being China’s most indebted home builder, Evergrande’s stock has been buoyed this year by a return to confidence in the nation’s real estate sector.

Joining Wang and Xu among China’s ten wealthiest real estate people this year are Chan Laiwa of Fu Wah International, Yang Huiyan of Country Garden Holdings, Hui Wing Mau of Shimao Holdings, Tong Jinquan of Summit Property Development, Wang Wenxue of China Fortune Land Development, Huang Rulun of Century Golden Resources Group, Wu Yajun of Longfor Properties, and Huang Shih Tsai of Great China International Group.

Together these 10 individuals boast $73.9 billion in assets. While the wealth of the next five real estate tycoons after Wang Jianlin totals more than $29.5 billion, this still falls short of the $30 billion stash amassed by the Wanda boss.

Overall, 16 out of China’s 100 wealthiest people can trace their wealth primarily to real estate, according to Forbes.

Wang’s Holdings Double in One Year

The doubling of Wang’s holdings in the past year came largely thanks to the $3.7 billion Hong Kong IPO of Dalian Wanda Commercial Properties last December, as well as the $203 million Shanghai IPO of Wanda Cinema Line in January. Despite China’s stock slump this year, shares in Wanda Cinema Line have climbed more than 550 percent since their debut.

The rise in Wang’s fortunes puts his net worth more than 50 percent above last year’s top finisher, Jack Ma. The Alibaba chief was able to win Forbes’ top spot in 2014 with holdings estimated at $19.5 billion. This year Ma ranked second overall, with assets valued at $21.8 billion.

After Wang and Ma, the Forbes China top five this year included Tencent’s Pony Ma who finished third with assets of $17.6 billion, smartphone impresario Lei Jun of Xiaomi with $13.2 billion, and mining magnate Wang Wenyin with assets of $12.1 billion.

China’s Top 10 Real Estate Billionaires Illustrated