These are the 10 richest Chinese billionaires: ForbesBillionaires
ven as markets roiled around the world, China’s wealthiest experienced a bounceback year. A record 389 Chinese citizens made theWorld’s Billionaires List, up from 324 in 2019 and besting the previous record of 372 in 2018. Though the Middle Kingdom is still recovering from the effects of the coronavirus pandemic, its billionaires boast a collective net worth of $1.2 trillion — up from $982 billion a year ago — and have an average fortune of $3.1 billion, also up from $3.0 billion in 2019.
Overall, China’s wealthiest 10 people, a cohort that also includes TikTok creator Zhang Yiming and real estate tycoon Hui Ka Yan, have a combined fortune of $224 billion, down from $234.8 billion a year ago. The biggest loser is the country’s one-time richest person, Wang Jianlin, who has shed $8.6 billion in the past year as his real estate empire declined and his movie theater chains experienced a sharp downturn in the face of coronavirus.
China’s richest pig breeder, Qing Yinglin, is both the country’s and the list’s biggest gainer. His fortune skyrocketed $14.2 billion in the past year, as shares of his Shenzhen-listed Muyuan Foodstuff nearly tripled, fueled by higher pork prices driven by the African swine fever, which reduced China’s pig population. Qing’s wife, Qian Ying, who sits on the board of Muyuan, is a newcomer to the list, with a $1.4 billion fortune.
Other notable newcomers include Larry Xiangdong Chen, who joined the three-comma club after his Beijing based GSX Techedu, which provides online after-school tutoring for K-12 students, went public on the New York Stock Exchange in June 2019. Its stock has almost quadrupled since the IPO, thanks to China’s rising middle class and increased demand for virtual education during the coronavirus crisis.
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