The Hurun Report has published the top 50 names of this year’s Hurun Rich List 2011. Liang Wen’gen, co-founder of heavy machinery company Sany, rose from fourth place to top the list this year with a wealth of $11billion, buoyed by China’s economic boom. He edged last year’s list-topper Zong Qinghou of drinks conglomerate Wahaha into second place. Zong has seen his wealth shrink from $12 billion to $10.7 billion following profit margin squeeze in the industry, this despite Wahaha chalking up an impressive 30% sales increase. Robin Li Yanhong of Baidu continued his rise on the list to finish at third place this year with a fortune of $8.8 billion. He was helped in no small part by Google’s quasi-withdrawal from the Chinese market which allowed Baidu to consolidate its position in the online search market.
Other interesting findings according to Hurun:
- The number of US$ 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.
- 29 of the Hurun Top 50 count property as one of their main sources of wealth.
- 30% of the Hurun Top 50 are delegates to the National Party Council or CPPCC.