Wang Jianlin of Wanda overtakes Li Ka-shing to become richest Chinese in world

Wang Jianlin of Wanda overtakes Li Ka-shing to become richest Chinese in world, HURUN Report finds 1,577 Chinese from across the world with wealth of US$320m or more

Hurun Research Institute released the Hurun Global Chinese Rich List 2015, a ranking of the richest Chinese in the world, sponsored by China-based asset manager Hanya Capital. Hurun Research has managed to keep the cut-off to CNY 2bn (US$320 million), the same as its annual Hurun China Rich List. This is the first year of the list.

Key Findings

Global Chinese impact

Hurun Research found 1577 Chinese with wealth of CNY 2 billion (US$320m). “Assuming that we have missed at least two for every one we have found, there should probably be close to 5000 Chinese around the world with more than CNY 2 billion,” says Rupert Hoogewerf, chairman and chief researcher of Hurun Report.
Total wealth of these 1577 individuals amounts to US$2.1 trillion, equivalent to the GDP of Russia or 1.5 times that of South Korea.
504 are dollar billionaires.

Rise of Mainland China

Mainland China dominates with 79.5% of the list, followed by Hong Kong with 6.3% and Taiwan with 4.9%. Next come Singapore, Malaysia and Indonesia.

City of Residence: 7 of the top 10 cities with the highest concentration of wealth are in mainland China, led by Beijing with 181 living there, followed by Shenzhen with 111.

Links back to China. Almost half the non-mainland Chinese on the list have their origins in Guangdong and Fujian. For mainland China, Zhejiang dominates.

Industries: Real estate and manufacturing lead the way. For non-mainlanders, food & drinks and transportation were significantly higher, three times and double that of mainland China respectively. “Gone are the days when Chinese were best-known for opening restaurants in Chinatowns around the world,” says Hoogewerf.

Age: Average age is 56 years, i.e. born in 1959. “Non-Mainlanders are 68 on average, starting up in 1978, 15 years earlier than their mainland counterparts, who started up in 1993 on average,” says Hoogewerf.

Self-made: Only 67% of non-mainlanders are self-made, compared with mainland China, where significantly all are self-made. 6% of non-mainlanders on the list are in their third generation.

Female: 345 females make the list, 18% of the total. Kwong Siu Hing of Sun Hung Kai is the richest woman with a fortune of US$10.5 billion. “Chinese dominate when it comes to the world’s most successful women in business,” says Hoogewerf.

Chinese may account for 20% of the world’s population, but global Chinese dollar billionaires make up 25% of the Hurun Global Rich list (released in February 2015), showing that – in business –Chinese have outstripped their peers.

Wang Jianlin of Wanda Group – richest Chinese globally (Huron Report 2015)