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Top 50 of the Hurun Rich List 2011
Hurun Report        2011-09-07        Back

 

 

LEADING AUTHORITY ON CHINA'S WEALTHY COUNTS 271 US$ BILLIONAIRES - RECORD YEAR FOR CHINA’S RICH

LIANG WENGEN NEW NUMBER ONE WITH US$11 BILLION FORTUNE

 

 

  • LAST YEAR’S NUMBER ONE, ‘DRINKS KING’ ZONG QINGHOU OF WAHAHA, DROPS ONE PLACE TO SECOND FOLLOWED BY ROBIN LI YANHAONG OF BAIDU IN THIRD
  • CUT-OFF TO MAKEHURUN 1000 SHOOTS UP TO US$310 MILLION: DOUBLE THAT OF TWO YEARS AGO AND TRIPLE THAT OF THE LAST CRISIS IN 2008. AVERAGE WEALTH HITS US$924 MILLION
  • BEIJING IS THE RESIDENCE OF CHOICE FOR CHINA’S RICHEST, HOME TO 111 ON THE LIST, FOLLOWED BY SHENZHEN WITH 83 AND SHANGHAI 80
  • ONE THIRD OF HURUN TOP 50 HOLD SENIOR GOVERNMENT ADVISORY ROLES

 

(7 September 2011) The Hurun Research Institute today released the Top 50 of the Hurun Rich List 2011, the thirteenth annual ranking of the richest individuals in China, since Hurun Report founded the China Rich List in 1999. The Hurun Rich List 2011 is sponsored for the third year running by Hainan Clearwater Bay, a leading luxury property development based in Hainan Island. The full list of the 1000 richest individuals will be released next month. Wealth calculations are a snapshot of 15 August 2011. 

 

Despite the continuing global financial crisis, 2011 has been a record year for China’s rich. The number of US$ billionaires on the Hurun 1000 shot up to 271 individuals, up from 189 last year and more than double that of 130 in 2009. The cut-off to make the Hurun 1000 shot up to US$310 million, up from US$220 million last year and US$150 million in 2009. The average wealth hit US$924 million.

 

China’s relentless construction boom coupled with a growing domestic retail market have been the key drivers for the growth in wealth. Another driver for the growth in wealth has been a large number of successful listings on the stock markets. 29 of the Hurun Top 50 count property as one of their main sources of wealth.

 

The rich are well connected too. 30% of the Hurun Top 50 are delegates to the National Party Council or CPPCC.

 

Rupert Hoogewerf, Chairman and Chief Researcher said, “China’s rich have defied the global financial crisis with another record year of growth.”

 

Hurun Rich List 2011 - The Top 10

Rank

2011 Wealth

US$bn

Name

Age

Company

Industry

1

11

Liang Wen’gen

55

Sany

Heavy machinery

2

10.7

Zong Qinghou & family

66

Wahaha

Drinks

3

8.8

Li Yanhong

43

Baidu

Search engine

4

7.8

Yan Bin

57

Ruoy Chai

Red Bull, property, investments

5

7.2

Xu Jiayin

53

Evergrande Property

Property

6

7.1

Wang Jianlin

57

Wanda

Property

7

6.6

Wu Yajun & family

47

Longfor Properties

Property

8

6.4

Liu Yongxing & family

63

East Hope

Aluminum, feed

9

6.3

He Xiangjian & family

69

Midea Group

Home appliances

10

5.6

Yang Huiyan & family

30

Country Garden

Property

 

With China’s construction explosion showing few signs of slowing, Liang Wen'gen’s heavy construction equipment is in serious demand and his Sany Group has come a long way since its founding in 1989 as a small welding materials factory in Hunan Province. Liang’s US$11 billion fortune is based on his 58% share of Sany, which currently holds two listed companies and Liang, 55, has plans to go public with the entire operation in the next year.

 

‘Drinks King’ Zong Qinghou, 66, of theWahaha Group has seen profit margins squeezed, resulting in a slight drop in his wealth from US$12 billion last year to US$10.7 billion this year despite sales increasing by around 30%.

 

Robin Li Yanhongat 43 years is the youngest of the Hurun Top Ten, up to third this year with net worth of US$8.8 billion. Google’s withdrawal from the Chinese market last year has allowed Baidu to build on its leadership in the Chinese-language internet search services.

 

Yan Bin, 57, of Ruoy Chai is up a place to fourth this year with US$7.8 billion, his wealth increasing 39%, and is the second member of the drinks industry to make the Top Five. Yan’s increase in wealth was driven by burgeoning sales of Red Bull energy drinks, for which he has the Chinese rights.

 

Xu Jiayin, 53, is fifth on the list this year, up 20 places and is proof, along with Wang Jianlin, Wu Yajun and Yang Huiyan that property is still a key wealth-creating industry in China.

 

Wu Yajun,47, takes over the mantle of the richest woman from Zhang Yin, the Paper Queen, and is also now the richest self-made woman in the world.

 

He Xiangjian, 69, of Midea makes his first appearance in the top 10 at ninth with a personal fortune of US$6.3 billion. He has expanded his household electronics manufacturing company into a retail empire with 13,000 stores nationwide.

 

And the Rest of the Top 50

Last year’s no.2, the pharmaceutical tycoon Li Li, 46, saw Hepalink’s share price halve over the last year.

 

Xu Rongmao, 61, dropped out of the top 10 for the first time in a decade on the back of a weak stock performance.

 

Former number one, Huang Guangyu, 42 years, may be serving time in jail but has seen his wealth shoot up 70% to US$5.2 billion to take him to 16th place, on the back of a resurgence in the share price of electronics appliance retailer Gome.

 

Another former number one, Wang Chuanfu, 45, of car and battery maker BYD saw his wealth drop by a third on the back of poor sales figures.

 

New listings have played an important part in the growth of wealth for three of the Hurun Top 50Li Shuirong of Rongsheng Holdings, Qiu Guanghe of textile-maker Semir Group and Zhang Shiping of Weiqiao Pioneering shot up to 11th, 13th and 19th respectively. 

 

Rise of philanthropy

Not only are China’s rich richer, but they are also becoming increasingly generous. On the Hurun Philanthropy List 2011, a ranking of the 100 most generous Chinese individuals measured by the value of their cash or cash equivalent donations over the past year, it was reported that Cao Dewang & family donated US$700 million this past year, taking the title of China’s Most Generous philanthropist.

 

Hurun Rich List 2011 - Number Ones over the years

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

 

Number of Billionaires in China

On the Hurun Rich List 2011 there are 271 US$ billionaires, but the real count should be much higher than that.  “You can double the real number of billionaires in China to nearer 600,” says Rupert Hoogewerf, Chairman and Chief Researcher of Hurun Report. See table below for details.

 

China today has 960,000 individuals with personal wealth of 10 million Yuan or more (GBP 950,000/ EUR 1.1 million/ USD 1.5 million), according to the Hurun Wealth Report 2011 released in April this year, up 85,000 or 9.7% year on year. In 2009, there were 825,000 millionaires, growing last year to 875,000.

 

 


The average rich lister on the Hurun Rich List 2011 was born in 1960, making him 51 years old today. He left his government job aged 33, and invested into what today is his main business aged 37 years.  It took him ten years to list his company and last year he started to cash out.

 

 

Hurun Rich List 2011 – Top 50

sponsored by Hainan Clearwater Bay

 

 

2011

Wealth

US$bn

2010

Wealth

US$bn

Name

Age

Company

Industry

1

11.0

5.4

Liang Wen'gen

55

Sany

Heavy machinery

2

10.7

12

Zong Qinghou & family

66

Wahaha

Drinks

3

8.8

5.3

Li Yanhong

43

Baidu

Search engine

4

7.8

5.3

Yan Bin

57

Ruoy Chai

Red Bull, property, investments

5

7.2

3.4

Xu Jiayin

53

Evergrande Property

Property

6

7.1

5.1

Wang Jianlin

57

Wanda

Property

7

6.6

4.1

Wu Yajun & family

47

Longfor Properties

Property

8

6.4

5.1

Liu Yongxing & family

63

East Hope

Aluminium, feed

9

6.3

3.7

He Xiangjian & family

69

Midea Group

Home appliances

10

5.6

3.5

Yang Huiyan & family

30

Country Garden

Property

11

5.5

0.69

Li Shuirong & family

55

RongSheng Holdings

Chemical fibres, property, coal, investment

11

5.5

5.1

Zhang Jindong

48

Suning

Household appliance retail, Property

13

5.3

4.7

Ma Huateng

39

Tencent

Instant messaging, web portal, online games, C2C

13

5.3

1.0

Qiu Guanghe & family

60

Semir Group

Textiles

13

5.3

4.3

Shen Wenrong

65

Shagang

Steel

16

5.2

4.0

Chen Lihua

70

Fu Wah International

Property, Museum

16

5.2

3.5

Huang Guangyu & family

42

Pengrun Investment

Household appliance retail, Property

18

5.0

3.4

Zhou Chengjian & family

46

Metersbonwe

Textiles

19

4.7

3.7

Liu Yonghao & family

60

New Hope Group

Finance, animal feed, property, investments

19

4.7

3.4

Lu Guanqiu & family

65

Wanxiang Group

Automobile manufacturing, property, agriculture, non-ferrous metals, financial

19

4.7

4.3

Lu Zhiqiang

59

China Oceanwide

Property, finance, investment

19

4.7

3.4

Sun Guangxin

49

Guanghui Group

Property, LPG, car trading, building materials

19

4.7

0.84

Zhang Shiping & family

64

Weiqiao Pioneering Group

Textiles, aluminum

24

4.4

3.2

Huang Wei & Li Ping

52

XinHu Group

Property, finance

24

4.4

5.6

Zhang Yin & family

54

Nine Dragons Paper

Paper

26

4.2

3.2

Du Shuanghua

46

Rizhao Iron and Steel

Steel, investment

27

4.2

2.6

Chen Zhuolin & family

49

Agile Property

Property

28

4.1

3.5

Chen Fashu

50

Xinhuadu Industrial Group

Retail, gold, tourism, wine

28

4.1

3.5

Zhu Mengyi & family

52

Hopson / Pearl River Investment

Property

30

4.0

2.9

Zhang Zhirong & family

42

Hengsheng Holding, Rongsheng Heavy Industry

Property, shipping industry

31

3.9

4.9

Xu Rongmao & family

61

Shimao

Property

32

3.8

3.2

Liu Canglong & Liu Hailong

56

Hongda Group

Metallurgical industry, chemicals, property, finance

33

3.6

2.9

Tong Jinquan

56

Changfeng Real Estate

Property

34

3.4

2.6

Ding Lei

40

Netease

Web portal, online games

34

3.4

2.9

Li Jinyuan

53

Tiens

Health products

34

3.4

3.2

Rong Zhijian

69

Citic Pacific

Diversified

37

3.3

5.9

Li Li & family

47

Hepalink

Pharmaceuticals

37

3.3

2.2

Pan Shiyi & Zhang Xin

/

SOHO China

Steel, LED

37

3.3

3.2

Zhu Yicai & Wu Xueqin

47

Yurun Group

Food, property

40

3.2

2.5

Shen Guojun

49

China Yintai

Retail, property

40

3.2

3.2

Xiuli Hawken & family

48

Renhe Group

Commercial property, agriculture

42

3.1

2.2

Shi Yuzhu & family

49

Giant Investments

Online games, finance

43

3.0

3.7

Gao Yanming

54

North China Shipping

 Shipping

44

2.9

2.7

Huang Maoru & Zhang Jing

46

Maoye Group

Property, retail

44

2.9

4.6

Wang Chuanfu

45

BYD

Autos, mobile phones, batteries

44

2.9

1.5

Zhu Gongshan

53

Golden Concord Holdings

Solar panel components, power station

47

2.8

3.8

Lv Xiangyang

49

Guangzhou Youngy Management & Investment Group

Autos, mobile phones, batteries, mining

48

2.7

2.1

Huang Shizai & family

60

Great China International

Property, investment

49

2.7

1.5

Huang Rulun

60

Century Resources Industry Group

Property, finance, mining

49

2.7

2.2

Liang Qingde & family

74

Galanz Group

Household appliances

49

2.7

1.5

Wang Yusuo & Zhao Baoju

47

ENN Group

Gas distribution, property, pharmaceuticals

49

2.7

2.2

Ye Lipei

67

Super Ocean Group

Property

49

2.7

3.2

Zhang Zhixiang

44

Jianlong Steel

Steel, shipbuilding, electromechanical industry

49

2.7

2.6

Zhu Linyao

41

Huabao International

Fragrances, Flavouring

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