The owner of Dalian Wanda, Wang Jianlin, has retained his title as the richest person in China “rich list” with a modest personal fortune of $32.1 billion. The property tycoon sits atop a pile of 594 dollar billionaires in China, and is closely pursued by founder of Alibaba, Ma Yun (Jack Ma), whose wealth grew by 41 percent on last year. Even with his fortune dropping by two percent this year, Mr. Wang managed to retain his title. Some may put this down to a feared housing bubble, while others may just assume Wang Sicong (Wang’s son) has been on another 2.5 million RMB bender at KTV.
The Hurun Report, aka China’s rich list, is often compared to Forbes’ billionaire list, which at the moment only includes a meager 535 billionaires, 59 fat cats short of China. Compiled by Rupert Hoogewerf (Hu Run), and based in Shanghai, the report gives an insight into the expanding markets and wallets of the Chinese super-rich.
Chairman of Baoneng Group, Yao Zhenhua, another real-estate and financial service mogul, defied the odds by jumping 200 places to fourth, following a 820 percent increase in his wealth. Yao is the fastest riser this year.
Although none of China’s 594 billionaires make it in the Forbes global top 20, topped by Microsoft’s Bill Gates with $75 billion to his name, China produces a new billionaire every five days, according to Business Insider.
In January, Wang Jianlin diversified his portfolio of investments and bought a controlling stake in American film studio, Legendary Entertainment, behind such blockbusters as “Jurassic World.” The billionaire has also entered into the entertainment park sector to squash Mickey in China, so it might not be long before he joins the elite top 20. Watch out, Bill.
By Seamus Gibson