The 10 Richest Chinese Billionaires 2022: ForbesBillionaires
took a downturn. The number of mainlanders to make the 2022 list fell to 539, down from 626 a year ago, as Chinese stocks tumbled. But, even with the decline, the country is yet again second only to the U.S.—which has 735 billionaires–in number of billionaires.
Due to a combination of fewer list members and weaker stock prices, Chinese billionaires’ aggregate wealth fell to $1.96 trillion this year, from $2.5 trillion on the 2021 list. Though 149 Chinese fell off the list since 2021, 60 newcomers joined, including Miranda Qu, one of three new self-made women from the country. This year China had more drop-offs and more newcomers than any other country.
Together, the top ten Chinese are worth $321.6 billion, down from $447 billion in 2021. Mainland Chinese billionaires now account for 15% of the total wealth of the world’s billionaire ranks, which totals 2,668 people worth a collective $12.7 trillion. No. 1 among China listees for the second year in a row is bottled water and tea magnate Zhong Shanshan, the founder of Nongfu Spring. The elementary school dropout is worth an estimated $65.7 billion, down $3.2 billion from last year; he ranks as the 17Zhong was among seven of the top 10 in China whose fortunes declined in the past year.
Green energy was a bright spot for China, helped in part by the popularity of electric vehicles. Though Geely shares plummeted, the fortune of Li Shufu–China’s richest automotive entrepreneur and the chairman of Geely Automotive–rose by $4 billion, to an estimated $23.7 billion, in part due to Li striking a deal in September 2021 to take electric vehicle maker Polestar public by merging it with a blank check company at a $20 billion valuation.
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