Forbes

China’s 400 RICHEST

Meet China’s wealthiest, worth a combined $1.2 trillion. Plus: Minnesota’s richest man.

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ONE CAN ONLY IMAGINE what Mao would make of this generation of Chinese tycoons— or of the country’s carbonated stock market. The fortunes of China’s 400 richest, all billionair­es (or billionair­e families), surged to a combined $1.2 trillion as of late October, up 26% from a year ago, handily outpacing the 13% rise in the Shanghai Composite Index. Seventy-nine made their fortunes in manufactur­ing, the most of any industry. There are 53 newcomers among the 400 wealthiest. For more, including the full rankings, please see forbes.com/china-billionair­es.

1. HUI KA YAN Net worth: $42.5 billion

the chairman and ceo of real estate developer china evergrande group became the country’s wealthiest man—up from no. 9 last year— following a stunning 469% rise in his company’s hong kong–listed stock, which swelled his fortune by nearly $33 billion.

2. MA HUATENG $39 billion

known as “Pony ma,” he chairs internet giant tencent holdings, developer of the hugely popular wechat messaging app. a jump in tencent stock ponied up an additional $14.5 billion to ma’s fortune over the past year.

3. JACK MA $38.6 billion

ma’s e-commerce powerhouse, alibaba, keeps growing as ever more people worldwide shop online. his wealth is following suit, having increased by $10 billion since 2016.

4. WANG JIANLIN $25.2 billion

last year’s listtopper is one of 92 chinese billionair­es whose wealth dropped. his dalian wanda real estate and entertainm­ent group has been selling assets, such as its struggling theme parks and dozens of hotels, to pay down immense debt.

5. WANG WEI $22.3 billion

reportedly a former textilefac­tory worker, wang runs s.f. express, china’s version of fedex. he took it public in february via a backdoor listing, having acquired listed firm maanshan dingtai rare earth.

NOTABLE NEWCOMER ZHANG YIMING $4 billion

His startup, Beijing Bytedance Technology, created a popular app called Toutiao (“headlines” in Chinese), which aggregates thirdparty news and videos and has attracted 120 million subscriber­s. The company raised $2 billion in August at a valuation of $20 billion.

NOTABLE NEWSMAKER SUN HONGBIN $10.4 billion

Sun is founder and chairman of Sunac China Holdings, a Hong Kong-listed real estate developer whose shares rocketed 632% in the past year. This July, Sunac spent $6.6 billion to buy theme parks from Wang Jianlin’s Wanda group (above).

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