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The Hurun Rich List 2013
Hurun Report        2013-09-11        Back

US$22BN FORTUNE: REAL ESTATE TYCOON WANG JIANLIN RICHEST MAN IN CHINA

BOOM IN IT AND ENTERTAINMENT WEALTH DRIVES RICHEST TO NEW RECORDS

HURUN REPORT - LEADING AUTHORITY ON CHINA’S WEALTHY - RELEASES CHINA RICH LIST 2013

 

  • Real estate tycoon Wang Jianlin, 59, is the richest man in Chinawith personal fortune doubling to US$22bn, surpassing last year’s Number One Zong Qinghou, despite Zong’s wealth growing 50%.
  • Top 5 have seen their wealth double.
  • The number of dollar billionaires is up a staggering 64to 315 individuals this year. A decade ago there were none.
  • There are three new faces in Top 5, led by 42-year old Pony Ma of Tencent at third, vehicle maker Wei Jianjun, 49, at fourth and 32-year old real estate developer Yang Huiyan.
  • 559 of the Top 1000 saw their wealth grow, with 144 growing faster than 50%, mainly due to a 60% hike China’s ChiNext exchange, the exchange for high growth start-ups.  252 saw their wealth shrink.
  • 115 new faces, the lowest number in the last decade, mainly because of the lack of new listings.
  • One in four made their money in real estate, which overtook manufacturing to become the key source of wealth for the Hurun Rich List.
  • IT and entertainmenthave had a great year, with the number of individuals making their fortunes from these industries growing 20%.
  • Pharmaceuticals, investments and carshave had a good year.
  • The number of individuals making their money fromnatural resources, especially coal mining, retail, manufacturing, steel and apparel have dropped by between 5% to 10%.
  • Yang Lan and Pan Shiyi are China’s most popular microbloggersfrom the Hurun Rich List 2013, with over ten million followers each.
  • The youngest self-made billionaire is 39-year-old Richard Liu Qiangdong of JD.com.
  • 153 individuals on the Hurun Rich List 2013 were appointed to the 12th NPC or CPPCC, including 8 members of the CPPCC standing committee.
  • While it has been a good year for monkeys and a bad year for dogs, rabbits have dominated the Hurun Rich List for yet another year, with oxen and pigs propping up the bottom yet again.
  • Hainan Clearwater Bay of Agile,a luxury holiday home development targeted at Chinese from across the country, is title sponsor of the Hurun Rich List for the 5th successive year.

 

(11 September 2013, China World Summit Wing, Beijing)

 

The Hurun Research Institute today released the Hurun Rich List 2013, the 15th annual ranking of the 1000 richest individuals in China. Wealth calculations are a snapshot of 15 August 2013. The Hurun Rich List 2013 is sponsored by Hainan Clearwater Bay of Agile for the fifth year running.

 

Despite the Shanghai Stock Exchange index dropping 1.7%, the average wealth of the Hurun Top 1000 is up 21% to a record high of US$1.04bn on average and has more than doubled since the global financial crisis of 2008, when it was US$439 million.  The cut-off to make the Top 1000 is up 12% to US$325 million, a record high, more than triple the 2008 cut-off. The cut-off to make the Top 50 has risen 500-fold in the last fifteen years, and 17-fold in the last decade.

 

Rupert Hoogewerf, Hurun Report Chairman and Chief Researcher said, “Strong performances in real estate and IT have driven China’s richest to new records. China’s richest seem to have defied gravity this year, overcoming a slowdown in the economy and a poor stock market to hit new heights.”

 

 

Hurun Rich List 2013- The Top 10

 

 

 

Wealth US$m

% change

Company

Industry

Age

1↑

Wang Jianlin

22,000

114%

Wanda

Real estate, entertainment

59

2↓

Zong Qinghou & family

18,700

48%

Wahaha

Drinks

68

3↑

Pony Ma Huateng

10,100

55%

Tencent

IT

42

4*

Wei Jianjun

8,400

200%

Great Wall Motor

Car manufacturing

49

5*

Yang Huiyan & family

8,300

60%

Country Garden

Real estate

32

6↓

Robin Li Yanhong

8,100

1%

Baidu

IT

45

6↓

Yan Bin

8,100

3%

Reignwood

Red Bull, real estate

59

8*

Xu Rongmao & family

7,000

49%

Shimao

Real estate, investments

63

9*

Zhang Jindong

6,400

73%

Suning

Retail, Real estate

50

10*

Xu Jiayin

6,100

11%

Evergrande

Real estate, investments

48

10↓

Jiang Bin & family

6,100

91%

Goertek

IT

55

Source: Hurun Rich List 2013 sponsored by Hainan Clearwater Bay of Agile

↑ Rank increase yoy  ↓ Rank decrease yoy  - No Rank change yoy  * New to Top 10

 

 

The Top 10

 

There are five new faces in the Top 10 this year, led by Wei Jianjun. Six made their money from real estate and three from IT.The average age of the Top Ten is 52 years, four years younger than last year.

 

59-year-old Wang Jianlin’s wealth more than doubled to US$22 billion, making Wang the richest man in China in 2013 and the tenth Number One in fifteen years of the Hurun Rich List.

 

Wang, who made his name with shopping malls, has been quietly growing Wanda into one of the biggest landlords in the world, with 17 million square meters budgeted to be under management by the end of 2013. Outside of his real estate arm, in which Wang owns 61%, Wang has been expanding into entertainment, becoming the largest operator of cinema screens in the world last year after a multi-billion dollar acquisition of a US cinema chain. This summer Wang continued to add to his international acquisitions, purchasing British luxury yacht maker Sunseeker for US$520 million and announcing a US$1bn investment into a hotel and luxury apartment complex in London, as part of his plan to build one of China’s biggest hotel brands. Wanda this year is targeted to make revenues of US$29bn. Wang is an important collector of art.

 

‘Drinks King’ Zong Qinghou, 68, of the Wahaha Group might have seen his wealth grow 48% year on year but this was not enough to hold down the top spot for a record fourth time. Profits in soft drinks Wahaha were up a quarter to US$1.3bn.  Zong also saw his shareholding in Wahaha jump to 95%, up from 80% last year, on the back of injection of personal investments into the group.

 

42-year old Pony Ma Huateng, the youngest within the Top 10, made the Top 3 for the first time, as Tencent’s share price soared by over 50%, valuing Ma’s 10.25% shareholding at US$10.2bn. Tencent made US$2bn of profits last year, thanks partly to the runaway success ofweixin, a communication tool somewhat equivalent to Facebook, giving it a market cap of US$90bn today, the most valuable company of anyone on this year’s Hurun Rich List.

 

For the second year running, Wei Jianjun, 49,was one of the fastest risers of the year, with his wealth tripling to US$8.4bn and propelling Wei into the Top 5 for the first time.  Since the domestic listing of vehicle-maker Great Wall Motor two years ago, Wei has seen his wealth grow eight-fold. Wei, a delegate to the 18th Party Congress at the end of last year, owns 35% of what is now the largest non-state-owned vehicle maker.

 

Yang Huiyan, 32, saw her wealth shoot back up by 60% to US$8.4bn, sweeping her back into the Top 10 for the first time in xx years, but still a far cry from 2007, when she was the richest person in China with US$18bn. In a very unusual move for a first generation entrepreneur, Yang Guoqiang transferred his 58% holding in property developer Country Garden to his daughter Yang Huiyan just before its listing. Country Garden made US$1bn of profits on US$7bn of sales last year.

 

Robin Li Yanhong,44, dropped down three places to sixth with US$8 billion, based on his 16% of Baidu. This is the second year running that Li’s wealth has dropped, even if only slightly.

 

Yan Bin, 59, of Reignwood, also dropped down two places to sixth with US$8 billion. Yan, who is better known by his Thai name of Dr Chanchai, owns the Chinese rights for the Red Bull energy drink, which saw sales surge 40% last year to US$2bn.  Yan owns prime real estate in Beijing, and continues to spend time on a US$300m London luxury apartment and hotel development.

 

Xu Rongmaojumped three places to eighth place with US$7bn on the back of a 49% surge in his wealth. The most consistent member of the Top 10 (Xu has only been out of the Top 10 twice in the past ten years), Xu has been devolving the running of real estate developer Shimao to his son Jason, 36, who has overseen sales rise 45% for the first half of 2013 to over US$5bn. Xu owns 64% of Shimao.

 

Zhang Jindong,50, jumped places to ninth, on the back of a 73% growth in his wealth to US$6.5bn. This past year, Zhang has rebranded the Chinese name of Suning, in an effort to transform it from a traditional retailer into an ecommerce power house. Zhang’s shares in the group jumped to 39.75% from 28% a year ago.

 

Jiang Bin,47, climbed 19 places to tenth in China, after seeing the value of his 53% in microphone-maker GoerTek, a supplier of Apple, almost double to US$6.2bn.

 

Xu Jiayin, 55, grew his wealth 11% to US$6.2bn to keep him in the Top 10 at ninth place. Evergrande’s sales in the first half of 2013 grew 27% to US$7.2bn, the largest HK-listed developer. Xu, who owns 68% of Evergrande, continues to spend heavily on his soccer team, which won the Chinese Super League for the second season in a row.

 

 

What happened to Last Year’s Top 10?

 

Low-key Chen Lihua, 72, saw her wealth grow 9% on the back of her prime commercial property in the heart of Beijing, but this was not enough to keep her in the Top 10.  Since Wu Yajun’s divorce in November last year, Chen has retaken the title of Richest Self-Made Woman in the World.

 

Liu Yongxing,the richest man in 2001, saw his wealth decrease by 18% on the back of a slump in the alumina smelting industry, dropping him out of the Top 10 for the first time since 2008.

 

In November, Wu Yajun of Longfor announced she was divorcing husband Cai Kui in a US$3bn settlement, catapulting Cai into the Top 50 in his own right, and marking the most expensive divorce settlement from a wife to her husband. After the divorce, Wu has 43% of the listed stock of Longfor, and former husband Cai 29%.

 

Liang Wen'gen, 57, saw his wealth fall for the second consecutive year, this year by 21% on the back of a poor performance by the two listed companies under Sany, and taking Liang out of the Top 10 for the first time he was Number One in 2011. Sany, which has moved its head office to Beijing from Hunan province this year, has six people on the Hurun Rich List, the most of any company on the list.

 

 

Records Broken

 

It has been a year when the Shanghai Stock Exchange fell by 1.7%, the Hong Kong Hang Seng Index grew by 12.4% and Nasdaq was up by 20.7%.

 

The number of dollar billionaires has bounced back to a record high too, with 315 individuals, up 64 from last year and zero as little as ten years ago.

 

559 of the Top 1000 saw their wealth grow, with 144 growing faster than 50%, mainly due to a 60% hike China’s ChiNext exchange, the exchange for high growth start-ups.  252 saw their wealth shrink.

 

115 new faces, the lowest number of new faces in the last decade, mainly because of the lack of new listings.

 

By comparison, last year 469 saw their wealth shrink, of which 37 shrunk by over 50%, mainly those from solar, textiles and retail sectors.  Only 291 saw their wealth grow, 114 stayed the same and there were 150 new faces.

 

The cut-off to make the Top 50 has risen 500-fold in the last fifteen years, and 17-fold in the last decade.

 

Highest new entries.

 

Of the 115 new faces on this year’s list, five jumped straight into the Top 100. Wang Wenyin of Amer is the highest new entry with a personal fortune of US$4.9bn. Amer went straight in at 387 on the Fortune Global 500 this year.  Cai Kui jumped right into the Top 50 after divorcing from Wu Yajun. Renewable energy king Li Hejun of Hanergy jumped in at 83 with US$2.1bn. Legendary investor husband and wife team Xiao Jianhua and Zhou Hongwen of Tomorrow Holdings made the list for the first time straight in at 98 with US$1.95bn. Xie Zhikun of Zhongzhi made the list for the first time, also at 98.

 

 

Going International.

 

Wang Jianlin, the richest man in China, continues to lead the way, with the US$320 million purchase ofSunseeker, a UK luxury yacht brand, and a commitment to US$1 billion development of luxury apartments and a hotel. This follows on from last year’s US$2.6bn takeover of a US cinema chain.  In June, Pan Shiyi and Zhang Xin of SOHO China led a consortium to purchase a 40% share in the General Motors building in New York for US$700 million, the largest direct acquisition of US real estate by a Chinese investor.Wang Jing, 41, of Xinwei Telecoms burst onto the scene earlier this year when he announced that he was going to build a US$40bn canal in Nicaragua.

 

In February, Li Shufu of Geely bought out the remaining shares in Manganese Bronze, maker of the London taxi, for US$18 million. Brothers Jiang Zhaobo and Jiang Lei of Pengxin finally won approval from the New Zealand government to purchase a diary business for US$160m. 

 

Huang Nuboof Zhongkun is still in the process of trying to win approval from the Icelandic government to purchase close to 300 square kilometers of Iceland for US$200 million.

 

 

Most valuable companies.

 

The top ten most valuable companies on this year’s list were Tencent US$90bn, Baidu US$47bn, PingAn US$45bn, China Minsheng Bank US$41bn, Alibaba US$41bn, Huawei US$37bn, Wanda US$25bn, Great Wall Motor US$21bn,Wahaha US$19bn and Haikang Satellite US$14bn

 

 

Bankruptcy

 

This year former solar darling Suntek, the company that Shi Zhengrong founded, declared bankruptcy, an unusual event for the Hurun Rich List. Shi, who was as high as Top 10 in 2008, still makes the list on the basis of the stock he sold when it was at the top.

 

 

Former politician

 

Ye Chenghai, a former vice mayor of Shenzhen, is the richest ex-politician, breaking into the Top 50 for the first time, on the back of a doubling of Salubris Pharmaceuticals’ share price.

 

Investors

 

Legendary investor Gong Hongjia and wife Chen Chunmei cashed out the best part of US$500 million this year, but still retain 20% of Hikvision. Another serial investor, Neil Shen Nanpeng has shot into the billionaire class for the first time following hikes in the share prices of Ctrip, HomeInn, Qihoo and eHouse.

 

Jack Ma of Alibaba Group saw his wealth continue to shoot up, this year by 70% as he prepares to take the group public in what is billed to be one of the largest IPOs coming out of the Chinese private sector.

 

 

Divorces & Disputes & ‘Helping Authorities with their Inquiries’

 

In November, Wu Yajun of Longfor announced she was divorcing former husband Cai Kui in a US$3bn settlement, catapulting Cai Kui into the Top 50 in his own right, and marking the most expensive divorce settlement from a wife to her husband. Du Shuanghua of Rizhao Steel has still not resolved his high profile divorce case, which Chinese media expects to involve another record divorce settlement.

 

A dispute between Guo Guangchang of Fosun, Pan Shiyi of SOHO China, Dai Zhikang of Zendai and Song Weiping of Greentown China, over one of the most expensive parcels of Shanghai land continues into its third year. Zhang Jindong of Suning andLiu Qiangdong are continuing their price war for the future of the household electronics retailing sector.

 

 

Some are ‘helping the authorities with their inquiries’.  In September, just months after becoming one of the few to win a public listing this year, Hua Bangsong of Wisen Engineering was detained.  Zhu Xingliang of Gold Mantis Construction was another in July.Xu Ming of Shide resurfaced as a key witness in the Bo Xilai case in August, but still makes the list at US$490 million. Zhang Keqiang of Poly Property Group is also ‘helping the authorities with their inquiries’.

 

Following the arrest of the Chengdu mayor Li Chuncheng, three of last year’s top ten in Chengdu have been detained including Liu Han of Hanlong, Deng Hong of Chengdu Exhibition and Travel Group, and Wang Junlin of Sichuan Langjiu. For Liu Han, under investigation on charges of harboring his brother after a murder, it meant that the billion-dollar takeover of an Australian minerhad to be scrapped.

 

In prison.  Huang Guangyu of GoMe and Zhang Wenzhong of Wumart.

 

 

Philanthropy

 

Huang Rulunwas crowned the most generous philanthropist in China on the Hurun Philanthropy Ranking 2013, donating US$92 million last year. See http://www.hurun.net/usen/HRCpl.aspx for further details.

 

 

Most people from a company

 

Sany is again the business with the most individuals on the list, with 6 individuals.  Others include Erdos with 5, Suning, Country Garden and Fosun each with 4.

 

 

Title sponsor of Hurun Rich List.

 

Agile Property, controlled 63.6% by Chen Zhuolin & family, is title sponsor of theHurun Rich List for the fifth year running.

 

 

Industry analysis

 

Source of wealth. With almost one in four of the Hurun Rich List making their money fromreal estate, real estate retook first place from manufacturing as the main source of wealth. However, the fastest risers were the IT and entertainment sectors, with the number of individuals making their money from these sectors shooting up by 20%. Real estate, investments, pharmaceuticals and cars all had good years, with the number of individuals from these sectors growing 10%.

 

The number of individuals making their money from natural resources, especially coal mining, retail dropped by 10%, whilst those from manufacturing, steel and apparel dropped by 5% each.

 

IT. IT stood out as the industry with the fastest growth with 7.0% of the Hurun Rich List counting it as a key source of their wealth, up from 5.5% last year. For the second year running, the Top 50 IT fortunes have grown by more than 40%. Lei Jun of Xiaomi was the fastest riser on the whole Hurun Rich List this year, seeing his wealth grow seven-fold to US$2.6bn on the back of a higher valuation of Xiaomi from another round of investment in July.  Jia Yueting of LeTV saw his wealth triple on the back of a hike in the share price, whilst Jiang Bin of GoerTek saw his fortune double this year, following a 50% hike last year.

 

Entertainment.This year has seen the entertainment sector come of age, with the Chinese box office expected shortly to become the largest box office in the world. Film making saw the biggest rise, led by Wang Changtian of Enlight and Fu Meicheng of Huace Film & TV, who saw their wealth triple, whilst Wang Zhongjun and Wang Zhonglei of Huayi Bros saw their wealth rise by 150%.

 

Real estate. This year has been a good year for real estate, with the Top 50 fortunes growing 23% year on year. The home of choice for the Top real estate fortunes are Beijing, Guangdong and Shanghai. Zhang Jindong of Suning is a new entry into the Top 10.

 

Healthcarehas also had a good year, with the fortunes of the Top 50 growing 25%.  Liang Yunchao & family of BY-Health saw their fortune grow a further 40% on top of doubling last year.

 

Investmentshas also had a good year. Legendary investor Gong Hongjia and wife Chen Chunmei cashed out the best part of US$500 million this year, but still retain 20% of Hikvision, giving them US$3.8bn. Another serial investor, Neil Shen Nanpeng has shot into the billionaire class for the first time following a doubling of his wealth to US$1.4bn.

 

Low Carbon. The green sector has had a good year, with the Top 30 fortunes rising 40%. Zhang Yin of Nine Dragon Paper continues to lead this sector with her paper recycling business. Solar and waste treatment created most of the Top 30 fortunes. Li Hejun of Hanergy is the highest new entry. Solar magnates Wu Jianlong and Zhu Gongshan both saw their wealth rebound over 50%, suggesting that the solar industry may have turned the corner. Last year, they lost 69% and 59% respectively.

 

Apparels. For the second year running, apparels has had a bad year, with the Top 30 apparel fortunes dropping by 16%. The leaders of the pack are now Ma Jianrong of Shenzhou International, a manufacturer of knitwear whose customers include Uniqlo, Nike and Adidas, and Ding Shizhong of Anta, whilst Chen Yihong of China Dongxiang, Li Ning and Qiu Guanghe of Senmirseemed to have bottomed out. Former ‘Apparel King’ Zhou Chengjian saw his wealth plummet 41% this year following a 36% drop last year on the back of a poor performance by Metersbonwe.

 

Cars. Car makers have had a good year. Wei Jianjun of Great Wall Motor tripled to US$8.4bn, Wang Chuanfu of BYD doubled to US$3.4bn and Li Shufu of Geely grow by just under half to US$2.6bn.

 

Retail.The Top retail fortunes have grown 20% year on year, led by Zhang Jindong, who continues to hold onto his ‘Retail King’ crown. Within retail, it has been car dealerships that make up most of the fortunes. Beijing now holds most retailing fortunes, followed by Guangdong.

 

Natural Resources. Although the number of people doing natural resources dropped slightly, the wealth of the Top 50 grew a modest 7%.

 

 

 

Industry

% of Indiv.

Richest Person

Company

2012 Rank

1

Real estate

23.5%

Wang Jianlin

Wanda

2

2

Manufacturing

20.3%

Liang Wen’gen

Sany

1

3

Finance+ Investments

9.6%

Liu Yonghao

New Hope

3

4

IT

7.0%

Ma Huateng *

Tencent

6

5

Pharmaceuticals

6.7%

Li Jinyuan

Tiens

5

6

Natural Resources

6.6%

Yang Xuegang

Risun Group

4

7

Apparel

3.9%

Ma Jianrong *

Shenzhou

7

8

Iron & Steel

3.7%

Shen Wenrong

Sha Steel

12

9

Retail

3.1%

Zhang Jindong

Suning

8

10

Construction

3.0%

Zhu Xingliang

Gold Mantis

13

11

Food & Beverages

2.7%

Zong Qinghou

Wahaha

11

12

New Energy

2.5%

Wang Yusuo

ENN

10

13

Services

2.3%

Yu Minhong

New Oriental

9

14

Agriculture

1.8%

Liu Yonghao

Tongwei

14

15

Transportation

1.8%

Wang Shusheng

Datian

16

16

Media +Entertainment

1.5%

Ma Huateng

Tencent

15

Source: The Hurun Research Institute 2013

* New number one

 

 

Political Appointments

 

153 of the Top 1000 are either delegates to the 12th NPC or CPPCC. This was only slightly up on last year, when there were 150 individuals. The 12th NPC and CPPCC run for a five year term from 2013 to 2018.

 

The percentage of senior appointments in the Top 50 has dropped to 30% from 39% last year, but still double the average. This year’s Top 50 includes 2 delegates to the 18th Party Congress, 5 to the NPC and 10 to the CPPCC.

 

There are 84 (up from 76 last year) delegates to the NPC and 69 (down from 74 last year) delegates to the CPPCC. There are seven (last year four) members of the standing committee of the 12th National People’s Congress on the Hurun Rich List 2013, namely Lu Zhiqiang (for a second term), Xu Jiayin, Nan Cunhui, Wang Wenbiao, Liu Changle, Sun Yinhuan and Mao Yonghong.  Wang Jianlin, Wang Yusuo and Liu Hanyuan stood down from the standing committee this year.

 

Seven individuals on the Hurun Rich List 2013 were delegates to the 18th Party Congress in Oct last year, including Liang Wengen, Zhou Haijiang, son ofZhou Yaoting, Wei Jianjun, Li Denghai, Chen Xueli, the sister ofFeng Hailang and Feng Yali andZhang Yubo.

 

Eight individuals on the Hurun Rich List 2013 were appointed vice chairmen of the All China Federation of Industry and Trade, including Li Yanhong, Li Hejun, Xu Jiankang, Sun Yinhuan, Su Zhigang, Mao Yonghong, Zhou Haijiang and Xu Guanju.

 

Hurun Research estimates a quarter of the Hurun Rich List 2013 to be members of the Communist Party.

 

 

Social Media Impact

 

Yang Lanis the Queen of the Social Media, with her Sina followers all but tripling to 34 million (2012: 13 million) and with 15 million followers on Tencent, China’s two largest microblog platforms. Jack Ma of Alibaba and Pony Ma of Tencent have both broken into the Top 10 for the first time.

 

 

 

Sina Weibo ‘000 Fans

 

 

 

Tencent Weibo‘000 Fans

1-

Yang Lan

34,160

 

1-

Yang Lan

15,110

2↑

Yang Zi#

22,710

 

2↑

Pan Shiyi

9,250

3↓

Pan Shiyi

16,010

 

3-

Yu Minhong

7,660

4↑

Yu Minhong

11,190

 

4-

Chen Guangbiao

6,350

5-

Xu Xiaoping

10,180

 

5-

Lei Jun

6,280

6*

Jack Ma Yun

9,660

 

6-

Shi Yuzhu

5,480

7↓

Shi Yuzhu

7,270

 

7-

Jiang Xipei

4,580

8-

Zhou Hongyi

6,900

 

8*

Pony Ma Huateng

4,170

9↓

Zhang Xin

6,520

 

9-

Li Guoqing

4,010

10*

Feng Jun

5,640

 

10↓

Liu Qiangdong

3,920

Source: Sina and Tencent Weibo websites 4 September 2013

↑ Rank increase yoy  ↓ Rank decrease yoy  - No Rank change yoy  * New to Top 10

# brother of Yang Jianzhong

 

 

Stats: Record Highs

Cut-off to make list in 2013 is up 12% at US$325 million to a record high, more than triple the 2008 figure.

 

The number of dollar billionaires has bounced back to a record high too, with 315 individuals, up 63 from last year and zero as little as ten years ago.

 

By comparison, last year 469 saw their wealth shrink, of which 37 shrunk by over 50%, mainly those from solar, textiles and retail sectors.  Only 291 saw their wealth grow, 114 stayed the same and there were 150 new faces.

 

The cut-off to make the Top 50 has risen 500-fold in the last fifteen years, and 17-fold in the last decade.

 

Year

Cut-off US$m

No. of

people on list

Top 50

Cut-off US$m

No. of

US$ billionaires

1999

6

50

6

1

2000

42

50

42

2

2001

60

100

110

1

2002

84

100

145

0

2003

110

100

180

0

2004

150

100

230

3

2005

60

400

320

7

2006

100

500

525

15

2007

105

800

1,600

106

2008

100

1000

1,500

101

2009

150

1000

2,100

130

2010

150

1363

2,300

189

2011

320

1000

2,700

271

2012

290

1000

2,400

251

2013

325

1000

3,000

315

Source: The Hurun Research Institute 2013

 

Cut-off (in US$m)

 

 

2013 US$m

2012 US$m

2011 US$m

2010 US$m

Top 10

6100

5400

5710

5240

Top 100

1970

1670

1750

1510

Top 200

1310

1110

1190

1000

Top 500

660

560

590

440

Top 1000

325

290

320

240

Source: The Hurun Research Institute 2013

 

 

Beijing is Home to 123 of theHurun Rich List

 

Beijing is the city with the most Hurun Rich Listers with 140, pulling away from last year with an additional 17 people on last year and 29 on two years ago, leaving Shenzhen and Shanghai to slog it out for second place. The pulling power of Beijing, Shanghai and HK seems to be on the rise.

 

By province, Guangdong continues to lead the way with 170 individuals (174 in 2012), followed by Beijing, which has overtaken Zhejiang on 152 (141 in 2012) for second place.

 

By birthplace, Zhejiang continues to lead head and shoulders above those born in Guangdong and Jiangsu.  152 individuals were born in Zhejiang, compared with 114 and 91 for Guangdong and Jiangsu respectively.

 

   

No. of indiv

2012 rank

1

Beijing

140

1

2

Shenzhen

76

3

3

Shanghai

71

2

4

Hangzhou

51

4

5

Guangzhou

44

5

6

Hong Kong

28

8

7

Suzhou

24

6

8

Wuxi

22

7

9

Chengdu

21

9

10

Nanjing

20

10

10

Shaoxing

20

13

Source: The Hurun Research Institute 2013

 

 

Chinese Star Signs

While it has been a good year for monkeys and a bad year for dogs, rabbits have dominated the Hurun Rich List for yet another year, with oxen and pigs propping up the bottom yet again.

 

The richest rabbit is Zhang Jindong. Jia Yueting is the richest ox. As for the richest man Wang Jianlin, he is a horse, and the richest self-made woman Chen Lihua, she is a snake.

 

 

   

%

2012 Rank

1

Rabbit

13.1%

1

2

Snake

10.5%

2

3

Dragon

10.2%

3

4

Tiger

9.0%

4

5

Monkey

8.1%

8

5

Horse

8.1%

5

7

Ram

7.5%

7

8

Rooster

7.4%

9

8

Dog

7.4%

6

10

Rat

6.6%

10

11

Pig

6.3%

11

12

Ox

5.6%

12

 

 

Number Ones Over the Years

Wang Jianlin is the tenth individual to have taken the top spot since records began in 1999.  Rong Yiren and son Larry Rong, Huang Guangyu and Zong Qinghou have each held the coveted Number One position three times.

 

Year

Name

Age

Wealth

US$bn

1999

Rong Yiren

83

1

2000

Rong Yiren

84

2

2001

Liu Yongxing, Liu Yonghao & brothers

53, 50

1

2002

Larry Rong Zhijian

60

0.85

2003

William Ding Lei

32

0.9

2004

Huang Guangyu

35

1

2005

Huang Guangyu

36

2

2006

Zhang Yin & family

49

3

2007

Yang Huiyan

25

18

2008

Huang Guangyu

39

6

2009

Wang Chuanfu

43

5

2010

Zong Qinghou

65

12

2011

Liang Wen’gen

55

11

2012

Zong Qinghou

67

12.6

2013

Wang Jianlin

59

22

Source: The Hurun Research Institute 2013

 

 

Methodology

The Hurun Rich Listis a snapshot of wealth on 15 August 2013. The exchange rate used for US$ was RMB 6.15, with the renminbi strengthening by 3% year on year.  The list relates to Mainland Chinese only, defined as someone born and brought up in Mainland China, no matter what passport they might hold today.

 

Valuing the wealth of China’s richest is as much an art as it is a science.  We have missed some people, but we believe the Hurun Rich List to be the most serious attempt to identify China’s top entrepreneurs and to measure their holdings.  Our team of researchers has - for the fifteenth year running - traveled the length and breadth of the country cross-checking information with entrepreneurs, industry experts, journalists, bankers, and regulators, as well as previous years’ databases. For non-listed companies our valuation was based on a comparison with their listed equivalents using prevailing industry Price/Earning ratios.

 

It is getting harder to note where the Hurun Rich Listers are based, since many have multiple bases.  In the past we used to record where the head office was, but this year we have tried to focus on where they mainly reside. Under ‘industry’, we note the industries that make up a quarter of the wealth of the individual.

 

 

Size of Market

 

China today has 2.8 million dollar millionaires, 1.05 million individuals with personal wealth of CNY 10 million (equivalent to US$1.6 million and GBP 1 million), up 3% in 2012 and 64,500 super-rich (defined as individuals with personal wealth of CNY 100 million, equivalent to US$16 million and GBP 10 million) up 2% from the previous year. The growth, the slowest one in five years, has decelerated for the second consecutive year.

 

As of the end of 2012, in all the 31 autonomous regions, cities and provinces excluding Hong Kong, Macau and Taiwan, the number of millionaires has increased by 30,000 from last year to 1.05 million, while the number of the super-rich has increased by 1,000 to 64,500 – an increase of 3% and 2% respectively. The growth, the slowest one in five years, has decelerated for the second consecutive year. At present, one out of every 1,300 people in China is a millionaire, and one out of every 20,000 people in China belongs to the super-rich class.

 

Beijing remains in the first place, followed by Guangdong and Shanghai.    Tianjin saw the fastest growth rate in the country, while Zhejiang Province and Inner Mongolia dropped the most.

 

For more info on the Hurun Wealth Report 2013 released in July 2013, refer to http://img.hurun.net/hmec/2013-08-14/201308141028423283.pdf



Hurun Rich List 2013 – Top 100, sponsored by Hainan Clearwater Bay of Agile

For the full list of the Top 1000, please refer to www.hurun.net

 

   

Wealth US$m

% change

Company

Industry

Age

1

Wang Jianlin

22,000

114%

Wanda

Real estate, entertainment

59

2

Zong Qinghou & family

18,700

48%

Wahaha

Drinks

68

3

Ma Huateng

10,100

55%

Tencent

IT, entertainment

42

4

Wei Jianjun

8,400

200%

Great Wall Motor

Car manufacturing

49

5

Yang Huiyan & family

8,300

60%

Country Garden

Real estate

32

6

Li Yanhong

8,100

1%

Baidu

IT

45

6

Yan Bin

8,100

3%

Reignwood

Red Bull, real estate

59

8

Xu Rongmao & family

7,000

49%

Shimao

Real estate, investments

63

9

Zhang Jindong

6,400

73%

Suning

Retail, Real estate

50

10

Jiang Bin & family

6,100

91%

Goertek

IT

47

10

Xu Jiayin

6,100

11%

Evergrande

Real estate, investments

55

12

Chen Lihua

6,000

11%

Fu Wah International

Real estate

72

12

Liu Yongxing & family

6,000

-15%

East Hope

Aluminium, chemical, feed

65

12

Lu Zhiqiang

6,000

28%

FanHai

Real estate, finance, investments

61

15

Liang Wengen

5,900

-19%

Sany

Heavy machinery

57

16

He Xiangjian & family

5,700

73%

Midea

Home appliances

71

17

Liu Yonghao & family

5,500

25%

New Hope

Agriculture, finance

62

18

Lu Guanqiu & family

5,000

22%

Wanxiang

Car parts, Real estate, agriculture

67

19

Sun Guangxin

4,900

14%

Guanghui 

Real estate, car sales, energy

51

19

Wang Wenyin

4,900

new

Amer

Cables and components for electrical engineering

45

21

Li Jinyuan

4,700

7%

Tiens

Healthcare direct sales

55

22

Wu Yajun & family

4,600

-23%

Longfor Properties

Real estate

49

22

Zhang Shiping & family

4,600

18%

Weiqiao Pioneering

Textiles, aluminum

67

24

Zhang Yin & family

4,400

38%

Nine Dragons Paper

Paper & Packaging

56

25

Chen Fashu

4,200

31%

Xinhuadu

Investments, real estate

53

25

Ding Lei

4,200

8%

Netease

IT, Entertainment

42

25

Zhu Yicai & Wu Xueqin

4,200

68%

Yurun

Food, Real estate

49

28

Wang Yusuo & Zhao Baoju

4,100

46%

ENN

Gas, energy

49, 48

29

Ma Yun & family

4,050

69%

Alibaba

IT

49

29

Zhu Mengyi & family

4,050

16%

Hopson / Pearl River

Real estate

54

31

Gong Hongjia & Chen Chunmei

3,800

36%

Hikvision Digital Technology

Video surveillance products

48, 48

32

Pan Shiyi & Zhang Xin

3,700

23%

SOHO China

Real estate

50, 48

32

Shi Yuzhu & family

3,700

32%

Giant Investments

Finance, online games

51

34

Chen Zhuolin & family

3,600

6%

Agile Property

Real estate

51

34

Fu Liquan & Chen Ailing

3,600

112%

Dahua Technology

Software

46, 46

34

Huang Rulun

3,600

50%

Century Golden Resources

Real estate

62

37

Wang Chuanfu

3,400

113%

BYD

Automobiles, mobile phones, batteries

47

37

Zhang Zhidong

3,400

55%

Tencent

IT, Entertainment

42

39

Huang Guangyu & family

3,250

-2%

Pengrun Investment

Household appliance retail, Real estate

44

39

Lyu Xiangyang

3,250

71%

Guangzhou Youngy Management & Investment

Investments

51, 50

41

Du Shuanghua

3,100

7%

Rizhao Iron and Steel

Steel

48

41

Guo Guangchang

3,100

55%

Fosun

investments, steel, pharmaceuticals

46

41

Huang Nubo

3,100

55%

Zhongkun

Real estate

57

44

Huang Wei & Li Ping

3,000

0%

XinHu

Real estate, finance

54

44

Jia Yueting & family

3,000

216%

LeTV

Telecoms, IT

40

44

Wang Wenxue

3,000

88%

Fortune Land Development

Real estate

46

47

Cai Kui & Family

2,900

new

Longfor Properties

Real estate

 

47

Liang Qingde & family

2,900

7%

Galanz

Household appliances

76

47

Pan Zhengmin & Wu Chunyuan

2,900

45%

AAC Acoustic Technologies

Acoustics

44

47

Rong Zhijian

2,900

4%

Citic Pacific

Investments, real estate

71

47

Shen Guojun

2,900

21%

China Yintai

Retail, Real estate

51

47

Shi Wenbo

2,900

21%

HengAn

Sanitary napkins, baby diapers

63

47

Sun Weijie & family

2,900

81%

Jereh Oilfield Service

Petroleum equipment

50

47

Wei Shaojun

2,900

21%

Longjitaihe

Real estate, new energy

50

47

Yan Jiehe & Zhang Yunqin

2,900

81%

China Pacific Construction Croup

Infrastructure

53

47

Ye Chenghai & family

2,900

93%

SalubrisPharmaceuticals

Pharmaceuticals

70

57

Xu Lianjie

2,850

19%

HengAn

Sanitary napkins, baby diapers

60

57

Zhang Li & Zhang Liang

2,850

19%

R&F

Real estate, mining

60

59

Liu Canglong & Liu Hailong

2,800

22%

Hongda

Metallurgical industry, chemicals, Real estate

58

59

Ma Jianrong & family

2,800

65%

Shenzhou

Textiles, apparel

48

59

Shen Wenrong

2,800

-36%

Sha Steel

Steel

67

59

Zhang Zhixiang

2,800

33%

Jianlong

Steel, Mining, Shipbuilding

46

63

Chen Jianhua

2,600

63%

Wujiang Henli Chemical Fibre

Textiles, chemical fiber

42

63

Huang Shizai & family

2,600

-7%

Great China International

Real estate

62

63

Lei Jun

2,600

584%

Xiaomi Technology

Mobile phone, investments

44

63

Li Shufu & family

2,600

44%

Geely

Car manufacturing

50

63

Ma Xingtian & family

2,600

37%

Kangmei

Pharmaceuticals

44

68

Geng Jianming & Geng Jianfu

2,400

60%

RiseSun Holdings

Real estate

51, 48

68

Sun Xishuang

2,400

50%

Yifang

Real estate

60

68

Yang Keng

2,400

0%

Languan

Real estate

51

71

Zhu Linyao

2,350

-2%

Huabao International

Fragrances, flavouring

43

72

Li Li & family

2,300

5%

Hepalink

Pharmaceuticals

49

72

Lin Xiucheng & Lin Zhiqiang

2,300

35%

Sanan

LED

62, 39

72

Ni Zhaoxing & family

2,300

21%

Zhongrong

Culture products, Real estate, energy, investments

57

72

Song Zuowen & family

2,300

-4%

Nanshan

Aluminium, Apparel, investments

66

72

Tong Jinquan

2,300

-34%

Changfeng Real Estate

Real estate

58

72

Yu Yong

2,300

224%

Cathay Fortune Corp

Molybdenum mining

 

72

Zhu Xingliang & family

2,300

-4%

Gold Mantis

Construction

54

79

Ding Shizhong & family

2,200

83%

Anta

Sportswear

43

79

Fang Wei

2,200

29%

Fangda

Carbon, steel, coal

40

79

He Qiaonv & Tang Kai

2,200

0%

Orient Landscape

Landscaping

47, 43

79

Qiu Guanghe  & family

2,200

0%

Semir

Apparel

62

83

Cai Dongqing & family

2,100

91%

Alpha Animation

Animation

44

83

Du Sha & family

2,100

0%

Homeworld 

Investments

66

83

Jiang Rensheng & family

2,100

75%

Zhifei Biological Products

Vaccine

60

83

Li Hejun

2,100

New

Hanergy

Solar

46

83

Li Shuirong & family

2,100

-28%

RongSheng Holdings

Chemical fibres

57

83

Liu Hanyuan & Guan Yamei

2,100

0%

Tongwei

Agriculture, new energy

49

83

Wen Yibo & Zhang Huiming

2,100

50%

Sound Environment

Environmental protection

48

83

Yao Xinyi & Yao Xinquan

2,100

31%

DunAn

Manufacturing, energy

49

83

Zhang Hongwei

2,100

0%

Orient

Energy, retail

59

92

Dou Zhenggang

2,000

18%

Jinjiang

Energy, chemical

60

92

Feng Hailiang

2,000

43%

Hailiang

Copper,  investments

53

92

Huang Wenzai

2,000

5%

Hongyu

Real estate

60

92

Yang Xuegang & Lu Xiaomei

2,000

-17%

Risun

Coal, chemicals

48

92

Yuan Yafei

2,000

18%

Hisap

IT retailer, Real estate, investments

49

92

Zhou Zerong

2,000

5%

Kingold

Real estate, investments

59

98

Chen Tianqiao & family

1,950

3%

Shanda

Online games

40

98

Ding Xinxin & family

1,950

15%

Yasha Decoration

Building decoration

55

98

Gao Dekang & family

1,950

-11%

Bosideng

Apparel

61

98

Huang Maoru & Zhang Jing

1,950

3%

Maoye

Real estate, retail

48

98

Liang Yunchao & family

1,950

39%

BY-Health

Health Products

44

98

Liu Baolin & Liu Shulin & Liu Zhaonian

1,950

-7%

Jointown

Pharmaceutical distribution

60

98

Miao Shouliang

1,950

15%

Fuyuan

Real estate, hydroelectricity, new energy

58

98

Sun Piaoyang

1,950

50%

Jiangsu Hengrui Medicine

Pharmaceuticals

55

98

Sun Shoukuan

1,950

50%

Jiacheng

Refractories, coal chemicals

64

98

Wang Changtian & family

1,950

255%

Enlight Media

Entertainment

48

98

Wang Junmin

1,950

105%

Haisco Pharmaceutical

Pharmaceuticals

45

98

Wu Yiling & family

1,950

22%

Yiling Pharmaceutical

Pharmaceuticals

64

98

Xiao Jianhua & Zhou Hongwen

1,950

new

Tomorrow Holding

Financial, investments

42

98

Xie Zhikun & family

1,950

new

Zhongzhi

Finance, investments, mining

 

98

Xu Yu & Li Shanhu

1,950

-7%

Trendy International

Apparel

 

 

 

 

About Hainan Clearwater Bay of Agile

Developed by Agile Property Holdings Limited, Hainan Clearwater Bay is a large-scale project based in the South of Hainan Island, close to Sanya.

 

Covering an area of 15,000 mu, with over 10 million square meters of development and a total investment of RMB20 billion, Hainan Clearwater Bay of Agile is listed as a key construction projects of the "12th Five-Year Plan” of the Hainan government.

 

Hainan Clearwater Bay is developed by Agile Property Holdings Limited, a listed company in Hong Kong in collaboration with Morgan Stanley, and is well placed to become a world-class new coastal holiday resort. The project boasts high-end supporting facilities including 6 international five-star resort hotels (including Jumeirah, Raffles, Intercontinental, JW Marriott, Hilton Resorts and Outrigger) and 2 world-class marinas to be built along the 16-kilometer landscape avenue and 12-kilometer coastline. It will take the lead in implementing Hainan’s international tourism island development strategy and becoming a new image of the international tourism island by leveraging the scarcity of global natural resources, forward-looking integrated development planning, and world-class award-winning supporting high-end facilities.

 

At present, after approximately 6 years of development and construction, this holiday resort is maturing. A group of six development including Golfer’s Paradise (金色果岭), Côte d'Azur (蔚蓝海岸), Silver Sand (瀚海银滩), The Galaxy (星海传说), Azure Oasis (蔚蓝高尔夫) and River Park (碧海帆影) are completed. Among them, Golfer’s Paradise, Côte d'Azur and The Galaxy have been put into service. The lakeside Commercial Street of the Côte d'Azur has started to business in October 2009, can meet the requirements of property owners. The large comprehensive farmers market built by the domestic renowned commercial management company will be open in the first half of this year…

 

The slogan “It is Your Second Life” has struck a chord amongst China’s wealthy elite, attracting 10,000 of them to become owners. The ultimate dream for coastal living.

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