China’s Richest

The world’s second-largest economy continues to mint ten-figure fortunes at a blistering pace.

The world’s second-largest economy has continued—not just despite Covid-19 but in some instances because of it—to mint ten-figure fortunes at a blistering pace. Its 400 wealthiest, each of whom is worth $1.55 billion or more, boast a collective net worth of $2.1 trillion, up 64% from $1.3 trillion last year. Sixty-eight newcomers joined the ranks, thanks largely to Covid-driven tech and health-care booms.

1. Jack Ma • $65.6 bil 

The Alibaba cofounder is China’s richest person for the third straight year, up $27.4 billion—due mostly to his stake in fintech giant Ant Group—whose much-awaited, heavily subscribed IPO was suspended by regulators.

2. Ma Huateng • $55.2 bil 

Known as “Pony Ma,” he’s the head of digital-media giant and WeChat creator Tencent.

3. Zhong Shanshan • $53.9 bil 

The September IPO of his bottledwater firm, Nongfu Spring, increased his net worth by nearly $52 billion from a year ago.

4. Sun Piaoyang • $35 bil 

Sun’s company is one of China’s biggest producers of cardiovascular and tumor-treating drugs, making him the Middle Kingdom’s wealthiest pharma mogul.

5. He Xiangjian • $32.2 bil 

Midea Group, which He cofounded, is the largest manufacturer of consumer appliances on the planet.

5. Wang Wei • $32.2 bil 

He chairs S.F. Holding, China’s version of FedEx, which got a big boost from the pandemic-spurred jump in e-commerce deliveries.