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LEXUS·Classement Hurun 2019: Les Personnes Les Plus Riches de Chine

The Hurun Research Institute released last October the LEXUS·Hurun China Rich List 2019a ranking of the richest individuals in China, with a wealth cut-off of CNY 2 billion, equivalent to US$290 million. Wealth calculations are a snapshot of 15 August, the same date as previous years. This is the 21st year of the list.

 

Rupert Hoogewerf, Chairman and Chief Researcher of Hurun Report, said: “The 2019 Lexus Hurun China Rich List is a snapshot of the private sector on the occasion of China’s 70th anniversary. The stories of these people tell the story of the Chinese economy.”

 

“This is the first time that the Hurun Rich List has shrunk for two consecutive years. Whilst last year could be put down to a 20% drop in the stock exchange, on the back of a slowing economy and the US-China trade, this year – in a year when stock markets have risen slightly – the shrink in the list is due to the impact of the digital economyTech entrepreneurs are replacing those from the traditional powerhouses of manufacturing and real estate. Twenty years ago, we did not have one dollar billionaire, yet now the average wealth of China’s Top 1800 individuals is a staggering US$1.4bn. Wealth is concentrating into the hands of those who are able to adapt to the digital economy.”

 

“I am delighted to partner for the second year with Lexus, which shares a similar passion towards innovation and the concept that the stories of these people tell the story of modern China.”

 

As the exclusive sponsor of Hurun China Rich List for two consecutive years, Lexus hopes to keep a keen insight into market dynamics and customers’ need for luxury lifestyle through continuous focus and thinking on the Rich List. In this way, Lexus will provide customers with amazing experience via emotional products and service.

 

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Highlights

 

266 dropped off last year’s list, adding to last year’s 456 drop-offs. “40% of the Hurun Rich List two years ago failed to make the cut this year, the biggest drop since records began 21 years ago. This works out at an average of one richlister dropping off each day for two years,” said Hoogewerf.

 

192 new faces, of which 2 jumped straight into the Top 100: Beijing-based Li Yongxin, 43, and mother Lu Zhongfang of China civil service exam trainer Offcn with US$8.4bn, and Silicon Valley-based Eric Yuan Zheng, 49, of online meeting platform Zoom with US$5.15bn. “There has been a changing of the guard in the Hurun Rich List, with 411 new faces these past two years,” said Hoogewerf.

 

Jack Ma, 55, for the second year running retained top spot with US$39bn, despite officially retiring as chairman of Alibaba last month.  Pony Ma, 48, of Tencent rose one place to second with US$37bn, up 8% or US$2bn, overtaking property developer Xu Jiayin, whose wealth has now dropped US$13bn in the two years since he was China Number One, to take Xu to US$30bn. “The China Rich List is now looking like a two-horse race,” said Hoogewerf.

 

Husband and wife team Sun Piaoyang, 61, & Zhong Huijuan, 58, doubled wealth to US$25bn, shooting them to fifth spot, after HK listing of schizophrenia and bipolar disorder drug maker Hansoh. “Pharma continues to grow from strength to strength. 8% of the rich list this year is made up of entrepreneurs whose main source of wealth is pharma, double that of ten years ago.”

 

Colin Huang Zheng, 39, of ecommerce giant Pinduoduo became the first self-made entrepreneur born in the 80s to enter the Top 10, after his wealth grew US$5.7bn to take him to US$19bn at 7th spot. 156 individuals under 40 made the list this year, up 24. “Colin Huang has created a world first, making US$20bn since founding Pinduoduo just four years ago. Nobody in the world has ever made that much from a standing start.”

 

Food has had a good year. Pig farmer Qin Yinglin, 54, & wife Qian Ying, 53, of Muyuan broke into the Top 20, after their wealth tripled to US$14bn on the back of selling 5.8 million pigs in a market when pork price increased due to an outbreak of swine flu. ‘Hotpot King’ Zhang Yong, 48, & wife Shu Ping, 49, of Haidilao, doubled their wealth to US$17 billion, propelling them into Top 10 for the first time. ‘Soya Sauce King’ Pang Kang, 63, of Haitian, saw his wealth grow by US$4.5bn to US$12bn.

 

621 dollar billionaires, up 1, of which 32 have more than US$10bn, up 8; cutoff to make Top 50 up 23% to US$7.4bn, a new record; average wealth up 10% to US$1.4 billion, a new record. Total wealth rose 4.5% to US$2.6 trillion.

 

Youngest self-made on list, both 27 years: Chen Xiaoliang of online advertiser Duiba, and Ge Yuesheng of Bitcoin miner Bitmain.

 

Huawei founder Ren Zhengfei, 75, grew 24% to US$3bn, up 36 places to 162.

 

22 individuals from newly-launched STAR Board make list, led by Chen Wenyuan, 51, & Zhang Qian, 38, of electronic display test equipment maker HYC with US$3.1bn.

 

Manufacturing had a bad year, whilst tech had a good year.  Manufacturing and real estate still make up just under 40% of the list, whilst tech overtook investments into third place.

 

Unicorns contributed 52 individuals this year. AI sector led by Tang XiaoOu of facial-recognition platform SenseTime, robotics led by Wang Tao of drone maker DJI, blockchain led by Zhan Ketuan of Bitcoin miner Bitmain, sharing economy led by Cheng Wei of Didi, e-vehicles led by He Xiaopeng of Xpeng Motors. Jenny Qian Zhiya, 42, of Luckin Coffee broke into the list with US$810 million, ranking 736, after founding Luckin Coffee just two years ago and listing it on Nasdaq in May. Revenues were over US$100 million in the second quarter of this year. “The speed of wealth creation in China is quite phenomenal,” said Hoogewerf.

 

18 individuals born outside China made the list, of which 5 are of non-Chinese origin: RAAS’s Kieu Hoang, Bestseller China’s Dan Friis, BeiGene’s John Oyler, Foreo’s Filip Sedic and Naked’s Grant Horsfield.

 

Zhejiang University and Peking University had the most alumni on the Hurun Rich List, with 39 and 38 individuals. Shanghai Jiaotong University and China Science and Technology University had good years, breaking into the Top 10 alumni. Hoogewerf said: "The spirit of entrepreneurship is red hot amongst the alumni of China’s top universities. Curiously, though, 45% did not go to university, graduating instead from the ‘University of Life’.”

 

Summary

l  1819 individuals made the cut of CNY 2 billion, 4% down on last year's 1893. Hoogewerf said, “This is the first time in 21 years that the Hurun Rich List has shrunk for two consecutive years. The only other years the list shrunk, and only very slightly, were in 2008 at the time of the global financial crisis and in 2002 after the tech bubble burst,” said Hoogewerf.

l  1136 saw their wealth shrink or stay the same, of which 266 dropped out of the list. 934 individuals saw their wealth grow, of which 192 were new entrants.

l  19 individuals have a wealth of CNY 100 billion, up a staggering 7 or 60%, a new record for the Hurun Rich List. Hoogewerf said: "Despite the list shrinking, average wealth jumped 10% to hit a new record of US$1.4bn and the cut-off to the Top 50 has grown 20% to US$7.4bn, also a new record. Companies with strong business models, good teams and that can maintain a spirit of entrepreneurship are pushing forward relentlessly.”

l  Fastest risers. Ningxia coal miner Dang Yanbao saw his wealth rise seven times to US$8.4bn on the back of a public listing of Baofeng Energy. Other fast risers include Du Shuanghua of Rizhao Iron and Steel, Wu Junbao, 53, of vocational training platform Xinhua Education, Li Xianyu, 65, & family of syringe maker Double Dove, Shen Wei and Chen Mingyong of mobile phone brands VIVO and OPPO.

l  Bad year. Robin Li Yanhong & Melissa Ma Dongmin of Baidu have had a bad year, losing US$7.7bn or 43% to drop them 25 places to 34.  Baidu has struggled to monetize its initiatives in AI and self-driving cars, and has been losing market share in advertising revenues to newcomers like Zhang Yiming, 36, of Bytedance. Robin Li made headlines in July, when someone poured a bottle of water over him on stage in Beijing. Others that were down include Ma Xingtian of ginseng pharma brand Kangmei, down almost 90% or US$5bn to US$840 million; Lei Jun of Xiaomi, down 32% or US$5bn to US$10.8bn, Li Bin, 45, of e-vehicle brand NIO, down 52% or US$1bn to US$860 million and Jason Jiang Nanchun, 46, of FocusMedia, down 44% to US$3.1bn.

l  The proportion making their wealth in IT increased from 10.3% of the list to 11.7%, surpassing Investments to become the third largest source of wealth for entrepreneurs on the list. Manufacturing is still the most important source of wealth for the Hurun List, but the proportion has fallen from 26.1% last year to 24.5%. Real estate is second, accounting for 14.8%, same as last year; Investments came in fourth, a slight decrease from 11.6% to 11.4%; Pharma continued its rise, up from 7.1% to 7.6%; The service industry maintained rapid growth, rising from 5.1% to 5.7%; RetailAgricultureand New Energy industries rose slightly; Foods & DrinksNatural ResourcesApparelMedia EntertainmentConstruction and Iron & Steel industries declined slightly. “IT led the way for growth this past year, followed by pharma and investments," said Hoogewerf.

l  STAR Board. 22 shareholders from 17 companies listed on the newly-founded STAR Board, an equivalent to a Nasdaq-style board for tech cos. Their total wealth came to US$19 billion, led by Chen Wenyuan & Zhang Qian of HYC with US$3.15bn. “The escalation in the US-China trade war has intensified interest in the recently-launched Star Board.”

l  156 people under 40 made the list, 24 more than last year. 58 of them are self-made, 8 more than last year. Pinduoduo’s Colin Huang Zheng, 39, shot into the Top 10 with US$19bn, up US$5.7 billion. Zhang Yiming, 36, from video-sharing and news aggregation platform Bytedance, rose 6 places to break into the Top 20 after a 46% rise in his fortune to US$13.5 billion.

l  11 people born in the 90s made the list, one more than last year. Two are self-made aged 27: Chen Xiaoliang from Duiba, and Ge Yuesheng from Bitcoin miner Bitmain.

l  Education. 3 new faces within the Top 5 richest individuals from education. Li Yongxin, 43, and his mother Lu Zhongfang from China civil service exam trainer Offcn, shot straight in at Number One with US$8.4bn. Second and third were Zhang Bangxin, 39, of after-school tutoring service platform TAL Education, up 22% to US$6.3bn and Michael Yu Minhong, 57, of English language training platform New Oriental, up 25% to US$2.85bn.  Two other new faces in the Top 5 are Wu Junbao, 53, of Anhui-based vocational training provider China East Education, up six-fold to US$2.15bn and Chen Xiangdong, 48, of K-12 after-school tutoring service provider Genshuixue with US$1.5bn. China East Education provides training in culinary arts and information technology, as well as auto services with sales last year of US$260 million.  “Making money in the field of education in China has gone through a big transformation these past two years,” says Hoogewerf.

l  The average age was 54, same as last year.

l  Where they live. Beijing has the highest concentration of richlisters, with 286 or 16% of the list. Shenzhen stayed ahead of Shanghai. Hangzhou, Guangzhou and Hong Kong followed. Sichuan had a good year.

l  Women. The proportion of women dropped slightly to 27.2% from 28.7% last year. 70% are self-made. Yang Huiyan, 38, scion of property developer Country Garden, is the richest woman with US$25 billion, up 17%.

l  The proportion of political appointments rose to 7.6% from 7.5% last year. 138 were delegates to the NPC or CPPCC, 4 down on last year. NPC delegates were down 5 to 72, whilst CPPCC delegates were up 1 to 66. Six are standing committee members of the CPPCC8 are vice chairmen of the All-China Federation of Industry and Commerce.

l  22 head up Fortune Global 500 companies, of which 14 are their main shareholder.

l  17 are in trouble with the law, of which 16 are under investigation and one in prison. In addition, 3 passed away: Zhang Shiping of Weiqiao Pioneering, died of illness aged 73; Zhang Shaori of Zhongsheng Pharma died of illness aged 63; Royalcover’s Wu Zhensheng, 54, died in a car accident.

l  Cross-border M&A. This year’s largest cross-border acquisition was the US$5.7bn Anta acquisition of Finnish brand Amer Sports. “Increased foreign exchange currency controls have brought cross-border M&A activity to a virtual standstill this year.” says Hoogewerf.

l  Chinese star signs. Those born in the Year of the Rabbit top the list for the eighth consecutive year, followed by dragons. Rats are still the worst performers this year.

l  Chinese surnames.  Those with the Li surname overtook Wang for the first time. Zhu, Sun and Guo have also made progress this year.

l  Compared with 10 years ago. 2 of the Top 10 a decade ago are still in the Top 10: Yang Huiyan and Wang Jianlin.  

l  Stockmarkets and currency. “This past year stockmarkets and the Chinese Yuan have been relatively consistent. The Shanghai and Shenzhen Composite Indexes rose 3.4% and 5% year on year, Nasdaq was flat and while the Hang Seng fell 6.7%, those listed there from our rich list saw their wealth grow by 4%.  In the same period the Chinese Yuan depreciated by 2% with the US dollar,” said Hoogewerf.

 

This is a translation of the summary of the Chinese press release. Please refer to the Chinese language version for the full release.

 

Top 10

There were 4 new faces in the Top 10 this year. IT led with 4, followed by real estate with 3. To break into the Top 10 required US$1bn more than last.


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Source: 2019 LEXUS·Hurun China Rich List

 

Jack Ma, who just retired at the age of 55, became the richest man in China for the third time with a wealth of US$39 billion. As of September this year, Alibaba's market value exceeded US$450 billion.


Pony Ma, 48, ranked 2nd with US$37 billion. Tencent posted revenue of nearly US$28 billion in the first half of this year, up 18% from a year earlier. Tencent has a market capitalization of US$428 billion as of September, making it China's second-largest company by market capitalization.


Xu Jiayin, 61, ranked third with US$30 billion. Evergrande achieved operating revenue of US$32 billion in the first half of this year. Xu has been expanding into e-vehicles.


He Xiangjian, 77, and son He Jianfeng ranked 4th with US$26 billion. Midea Group posted revenue of US$22 billion in the first half of this year, up 8% from a year earlier, and the pace of growth for the home appliance giant remains strong.


Husband and wife team Sun Piaoyang, 61, & Zhong Huijuan, 58, doubled their wealth to US$25bn, shooting them up 15 places straight into fifth place. Sun is the main shareholder of anticancer drug maker Hengrui, whilst his wife Zhong became the richest self-made woman in the world after her HK listing of schizophrenia and bipolar disorder drug maker Hansoh, of which she is the main shareholder. “Sun Piaoyang and Zhong Huijuan have created a world first, in that both husband and wife have built sizeable independent businesses,” says Hoogewerf.


Yang Huiyan & family ranked 5th with US$25 billion. At the beginning of this year, Country Garden identified real estate, robotics and modern agriculture as its three future priorities. In the first half of this year, Country Garden achieved a total revenue of US$29 billion, up 53% year-on-year.


Huang Zheng, 39, ranked 7th with US$19 billion. Founded four years ago, Pinduoduo has a market capitalization of US$41 billion. In the 12 months to the end of June, Pinduoduo had 480 million active buyers, up 41% from a year earlier.


Ding Lei, 48, ranked 8th with US$18 billion. Netease's net income in the second quarter of this year was US$2.7 billion, up 15% year-on-year.


Wang Jianlin, 65, & family ranked 9th with US$17 billion. After selling down many of his domestic and overseas assets, Wang’s main business today is the Wanda Plaza. Wanda Group's revenue last year was US$30.6 billion, down 5.7% year-on-year. In the first half of this year, Wanda announced investment projects in Sichuan, Shenyang, Chaozhou, Lanzhou and Tianjin, with a total investment of US$36 billion. Wanda Sports, listed on Nasdaq in July.


Yan Hao, 33, of China Pacific Construction, is ranked 9th with US$17 billion. China Pacific Construction made the Top 100 of the Fortune Global 500 for the fourth year running, achieving US$87 billion sales.


Zhang Yong & Shu Ping of Haidilao broke into the Top 10 with US$17 billion, ranking 9th in the list, and wealth increased by 118% compared with last year. Haidilao was listed on the Hong Kong Stock Exchange last September and its current market value is US$24 billion. Last year, Haidilao restaurant revenue exceeded US$2 billion, an increase of 60%. Last year, 193 new restaurants were added, bringing the total to 466, including 176 new in the mainland China and 17 overseas. Yihai international, another listed company they own, specializes in hot pot seasonings and instant food products, and its revenue last year was US$386 million, up 63% year-on-year. At the same time, the Shuhai Supply Chain, which was spun off from Haidilao Logistics, has also reached a valuation of US$2 billion.

 

 

Industry Analysis

The main source of wealth for 40% of the list was from manufacturing and real estate. IT, pharma, services, retail and new energy have had a good year.

logo.jpg

2019 LEXUS·Hurun China Rich   List

Industry   Analysis


Industry

2019%

2018%

Richest   Individual

Company

Wealth US$bn

1 -

Manufacturing

24.5%

26.1%

He Xiangjian & He Jianfeng

Midea

26

2 -

Real estate

14.8%

14.9%

Xu Jiayin

Evergrande

30

3 ↑

IT

11.7%

10.3%

Pony Ma

Tencent

37

4 ↓

Finance   & investments

11.4%

11.6%

Jack Ma

Alibaba

39

5 -

Pharma

7.6%

7.1%

Sun Piaoyang & Zhong Huijuan

Hengrui, Hansoh

25

6 -

Services

5.7%

5.1%

Zhang Yong & Shu Ping*

Haidilao

17

7 ↑

Retail

3.9%

3.3%

Jack Ma

Alibaba

39

8 -

Foods,   drinks

3.4%

3.4%

Pang Kang*

Haitian

12

9 ↓

Natural   Resources

3.3%

4.4%

Wang Yusuo   & Zhao Baoju

ENN

9.1

10 ↓

Apparel

3.0%

3.3%

Ma Jianrong

Shenzhou

8.6

11 -

Media   Entertainment

2.8%

2.9%

Pony Ma

Tencent

37

12 -

Agriculture

2.5%

2.3%

Qin Yinglin &

Qian Ying

Muyuan

14

13 ↑

New   Energy

2.3%

1.5%

Zeng Yuqun

CATL

6.4

14 ↓

Construction

1.7%

2.0%

Yan Hao

China Pacific Construction

17

15 ↓

Iron   + Steel

1.4%

1.8%

Du Shuanghua*

Rizhao Iron and Steel

5.7

Source: 2019 LEXUS·Hurun China Rich List

↑ Rank increase yoy  ↓ Rank decrease yoy  - No Rank change yoy  *New to this

 

Digital Economy Leaders

“All eyes are on the leaders of the next wave of the so-called ‘Fourth Industrial Revolution,” said Hoogewerf.  Below is a list of the 100 individuals from the Hurun Rich List that are leading the structural transformation to the digital economy.

 

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2019 LEXUS·Hurun China Rich   List

Digital Economy Leaders

Top 10








Name

Company


Name

Company


Name

Company

Ding Lei

Netease


Li Yanhong  

Baidu


Ma Yun

Alibaba

Huang   Zheng

Pinduoduo


Liu   Qiangdong

JD


Ren   Zhengfei

Huawei

Lei Jun

Xiaomi


Ma Huateng

Tencent


Wang Xing

Meituan-Dianping







Zhang   Yiming

ByteDance

Top 100








Name

Company


Name

Company


Name

Company

Cao Guowei

Sina


Liang   Jianzhang

Ctrip


Xiao   Wenjie

Lexin

Cao Ji

Hangke


Lin Bin

Xiaomi


Xu   Mingxing

OKCoin

Chen Hao

NOME


Lin Qi

Youzu


Xu   Shaochun

Kingdee

Chen   Mingyong

OPPO


Liu   Qingfeng

Iflytek 


Xu Yi

Bilibili

Chen Rui

Bilibili


Lu   Zhengyao

CAR,   Luckin


Yang   Haoyong

Cars

Chen   Shaojie

Douyu


Luo Min

Qudian


Yang Linjiang

1919

Chen   Tianqiao

Shanda


Mao Daqing

Ucommune


Yang   Yuanqing

Lenovo

Chen   Wenyuan

HYC


Qi   Xiangdong

Qi An Xin


Yao Hong

Weidai

Chen   Xiangdong

Genshuixue


Qian   Dongqi

Ecovacs


Yao Jinbo

58

Chen   Xiaoliang

Duiba


Qian Zhiya

Luckin   Coffee


Ye Guofu

Miniso

Chen Yuxin

Ximalaya


Shen Hui

Weltmeister


Yin Qi

Megvii

Chen   Zhilie

Evoc


Shen   Nanpeng

Sequoia


Ying   Shuling

Yingxiong

Cheng Wei

Didi


Shen Wei

VIVO


Yu Kai

Horizon   Robotics

Dai   Wenjian

Manbang   Group


Shen Ya

Vipshop


Zeng Yuqun

CATL

Eric Yuan

Zoom


Shi Yuzhu

Giant


Zhan   Ketuan

Bitmain

Fan Min

Ctrip


Su Hua

Kuaishou


Zhang   Bangxin

TAL   Education

Fu Liquan

Dahua   Technology


Sun Lei

9fgroup


Zhang Fan

Goodix

Gong   Hongjia

Hikvision


Sun Taoran

Lakala


Zhang Hui

Manbang

Han Kun

Xuan Yi   Xia


Tan   Siliang

Qutoutiao


Zhang Lei

Hillhouse

He   Xiaopeng

Xpeng   Motors


Tang   Xiaoou

SenseTime


Zhang   Nangeng

Canaan

Hu Dong

Ebang


Tang Yan

MOMO


Zhang   Xiaolong

Tencent

Hu   Yangzhong

Hikvision


Wang   Chuanfu

BYD


Zhang   Xuezheng

Wingtech

Jiang   Nanchun

FocusMedia


Wang Jian

BGI


Zhang Yong

Alibaba

Jin   Xiandong

Alibaba


Wang Jun

iCarbonX,   BGI


Zhao   Changpeng

Binance

Li Ge

Wuxi   Pharma Tech


Wang Tao

DJI-Innovations


Zhou Hongyi

360

Li Hua

Futu   Holdings


Wang   Wenjing

Yonyou


Zhou Jian

UBtech

Li Lin

Huobi


Wang Ying

Relx Tech


Zhou   Qunfei

Lens

Li Shufu

Geely


Wu Jihan

Bitmain


Zhu Long

Yitu

Li Xueling

YY


Wu Xushun

37   Interactive


Zhu   Zhaojiang

Transsion

Li Yong

Yuanfudao


Xiao   Shanglue

Yunji


Zuo Hui

Ke

Source: 2019 LEXUS·Hurun China Rich List

 

 

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2019 LEXUS·Hurun China Rich   List

Residences


Residences

No. of indiv. (change yoy)



Residences

No. of indiv. (change yoy)


1   -

Beijing

286   (-7)


25   ↓

Taizhou

16   (0)


2   -

Shenzhen

191   (-2)


26

Qingdao

14   (0)


3   -

Shanghai

167   (+7)


26

Zhengzhou

14   (-3)


4   -

Hangzhou

121   (+1)


28

Hefei

13   (+3)


5   -

Guangzhou

90   (-1)


29

Quanzhou

12   (-4)


6   -

Hong   Kong

53   (-1)


29

Shantou

12   (-3)


7   -

Suzhou

39   (-3)


31

Zhuhai

11   (0)


8   ↑

Chengdu

37   (+5)


32

Ordos

10   (-4)


8   ↓

Foshan

36   (+1)


32

Huzhou

10   (-1)


10   ↓

Ningbo

29   (-5)


34

Nantong

9   (0)


11   -

Dongguan

28   (-3)


34

Shenyang

9   (+3)


11   ↑

Shaoxing

28   (-1)


34

Taiyuan

9   (+6)


13   -

Xiamen

27   (-1)


34

Yunfu

9   (0)


14   ↑

Wuxi

26   (+4)


38

Baoding

8   (+3)


15   -

Nanjing

25   (-1)


38

Dongying

8   (-4)


16   ↓

Chongqing

24   (-4)


38

Langfang

8   (0)


17   ↑

Fuzhou

22   (+3)


38

Lianyungang

8   (-1)


17↓

Tianjin

22   (-3)


38

Shijiazhuang

8   (+1)


19   ↓

Changsha

20   (-5)


38

Xi'an

8   (-2)


20   ↑

Yantai

18   (+1)


38

Zhongshan

8   (+1)


21   ↑

Wuhan

17   (+1)






21   -

Jiaxing

17   (0)






21   ↑

Changzhou

17   (+1)






21   ↓

Wenzhou

17   (-1)






Source: 2019 LEXUS·Hurun China Rich List

↑ Rank increase yoy  ↓ Rank decrease yoy  - No Rank change yoy

 

 

Headquarters, Birthplace

Beijing and Shanghai have the most immigrant entrepreneurs.



 

logo.jpg

2019 LEXUS·Hurun China Rich   List

By Headquarters and birthplace


Headquarters

No.   by HQ (change yoy)

No. by Birthplace (change  yoy

Local Number One

Company

1   -

Guangdong

396   (-9)

229   (-1)

Pony   Ma

Tencent

2   -

Beijing

294   (-14)

36   (-3)

Wang   Jianlin & Family

Zhang   Yong & Shu Ping*

Wanda

Haidilao

3   -

Zhejiang

251   (-11)

238   (-5)

Jack   Ma & Family

Alibaba

4   -

Shanghai

171   (+9)

44   (+2)

Huang   Zheng

Pinduoduo

5   -

Jiangsu

140   (+2)

113   (+4)

Sun   Piaoyang & Zhong Huijuan*

Hengrui,   Hansoh

6   ↑

Fujian

75   (-2)

89   (+3)

Xu   Shihui & Family

Dali

7   ↓

Shandong

73   (-21)

62   (-11)

Zheng   Shuliang & Family

Weiqiao   Pioneering

8   -

Sichuan

46   (+5)

57   (+6)

Liu   Yonghao & Family

New Hope

9   -

Hong   Kong

36   (-4)

7   (-1)

Wang   Wei

SF Express

9   ↑

Hebei

36   (+2)

23   (-1)

Wang   Yusuo & Zhao Baoju

ENN

11   ↑

Tianjin

26   (0)

7   (-1)

Sun   Hongbin

Sunac

11   ↑

Anhui

26   (0)

37   (0)

Wu   Junbao*

Xinhua

13   ↓

Henan

24   (-5)

28   (-5)

Qin   Yinglin & Qian Ying

Muyuan

13   ↓

Hunan

24   (-6)

53   (-3)

Chen   Bang*

Aier Ophthalmology

15   ↑

Chongqing

22   (-3)

25   (+2)

Jiang   Rensheng & Family

Zhifei

15   ↑

Hubei

22   (+1)

47   (-4)

Yan   Zhi

Zhuoer

17   -

Liaoning

19   (-2)

29   (+1)

Sun   Shoukuan

Jiacheng

18   ↓

Inner   Mongolia

18   (-11)

14   (-4)

Du   Jiangtao & Hao Hong

Junzheng

19   ↑

Jiangxi

14   (+3)

30   (+3)

Lin   Yinsun *

Zhengbang

20   ↑

Shanxi

12   (+6)

21   (+9)

Yang   Jianxin & Fan Meihua

KJT

21   ↓

Guizhou

11   (-2)

4   (-1)

Luo   Yuping

Zhongtian

22   ↓

Yunnan

10   (-2)

13   (0)

Li   Xiaoming & Family

Energy New Material

23   ↓

Shaanxi

9   (-2)

14   (-5)

Shi   Guilu & Family

Rongmin

23   ↑

Guangxi

9   (0)

10   (-1)

Shi   Yingwen & Dong Xiaoli*

Ronghe

25   ↓

Xinjiang

8   (-4)

4   (-2)

Yan   Hao

China   Pacific Construction

26   ↓

Ningxia

7   (-3)

2   (0)

Dang   Yanbao*

Baofeng Energy

26   ↑

Heilongjiang

7   (+2)

14   (0)

Dai   Yongge & Family

Dili

26   -

Jilin

7   (-1)

14   (+1)

Xiu   Laigui & Li Yanhua

Xiuzheng

29   ↓

Hainan

6   (0)

2   (0)

Chen   Feng

HNA

30   -

US

5   (0)

1   (0)

Yuan   Zheng*

Zoom

30   ↓

Gansu

5   (-1)

11   (-2)

Zhu   Quanzu & Yu Jinhua

Ya   Tai

32   ↓

Tibet

4   (-1)

0   (0)

Wang   Junmin & Shen Ping *

Haisco   Pharmaceutical

33   -

Qinghai

3   (0)

2   (0)

Xiao   Yongming & Family

Zangge   Potash Fertilizer

34   -

Sweden

1   (0)

0   (0)

Filip   Sedic

Foreo

34   -

UK

1   (0)

0   (-1)

Huo   Yan

Capula  Management

34   -

Macao

1   (0)

0   (0)

Chen   Mingjin

Golden   Dragon

Source: 2019 LEXUS·Hurun China Rich List

↑ Rank increase yoy  ↓ Rank decrease yoy  - No Rank change yoy  *New to this

 

 

Important IPOs

This year, the number of new IPOs is down compared with last year.  “Despite the Trade War with the US, the preferred destination of IPOs this year for the Hurun Rich List was the USA, compared with HK last year,” says Hoogewerf.

New IPOs in the US included Tencent Music (market capitalization of US$28.6 billion), Luckin Coffee, Douyu, Futu Holdings, 9fgroup and Weidai. Fintech platform Lakala listed on the A share market, whilst the biggest HK IPO was pharma giant Hansoh.

 

Large international investments and acquisitions

In February, Anta teamed up with Tencent and FountainVest Partners to make a US$5.7bn acquisition of Amer Sports, a Finnish Sports brand.

 

In January, Evergrande Health acquired a 51% stake in Sweden-based global electric vehicle company NEVS for US$ 900 million.

 

In May, Fosun announced plans to acquire German smart manufacturing company FFT for US$670 million. Fosun is likely to make a loss from its 18% stake in UK travel operator Thomas Cook, which in September announced its closure.

In December, Alibaba acquired 29% of Indonesian e-commerce platform Tokopedia for US$486 million.

 

Born outside mainland China

18 individuals were born outside China, led by Mission Hills’s Ken Chu & family and RongQiao’s Tedy Djuhar & family.  Five are of non-Chinese origin: RAAS’s Kieu Hoang, Bestseller China’s Dan Friis, BeiGene’s John Oyler, Foreo’s Filip Sedic and Naked’s Grant Horsfield.

 

logo.jpg

2019 LEXUS·Hurun China Rich   List

Born outside mainland China


Name

Company

Wealth US$mn

Change

Birthplace

Residence


1

Ken Chu   & family

Mission   Hills

4300

0%

Hong Kong

Shenzhen


2

Tedy   Djuhar & family

RongQiao

3400

20%

Indonesia

Fuzhou


3

Elijah   Widjaja

Bund Center

2700

3%

Indonesia

Shanghai


4

Li Sze Lim

R&F

2500

21%

Hong Kong

Guangzhou


5

Hsu Cheng   & family 

Hsu Fu Chi

2150

11%

Taiwan

Dongguan


6

Kieu Hoang

RAAS

2000

-42%

Vietnam

Shanghai


7

Zhuo Jun

Jing Wang   Electricity

1500

27%

Hong Kong

Shenzhen


8

Francis Peng

AKD   International

1200

6%

Hong Kong

Beijing


9

Dan   Friis

Bestseller   China

1150

0%

Denmark

Beijing


9

Xie Weitong

Huayou   Cobalt

1150

-30%

Taiwan

Jiaxing


11

Huang Dawen

Huang Dawen

1000

-30%

Hong Kong

Ningbo


11

John   Oyler

BeiGene

1000

40%

US

Beijing


11

Koh   Tuck Lye

Xiaomi

1000

-13%

Singapore

Beijing


11

Zhen Ronghui

51job

1000

17%

Hong Kong

Shanghai


15

He Guangqi   & Chen Suying

Xiabuxiabu

710

0%

Taiwan

Beijing


16

Filip   Sedic

Foreo

400

12%

Bosnia

Shanghai


17

Grant   Horsfield

Naked

310

10%

South Africa

Shanghai


18

Cai Yonglong   & family

Gem-Year   Industrial

290

-9%

Taiwan

Jiaxing


Source: 2019 LEXUS·Hurun China Rich List

 

Points of Interest

The proportion of political appointments rose to 7.6% from 7.5% last year. 6 are standing committee members of the CPPCC: Xu Jiayin, Xu Jiankang, Xu Rongmao, Nan Cunhui, Liu Changle and Zheng Yuewen.

8 are vice chairmen of the All-China Federation of Industry and Commerce: Zhang Jindong, Zheng Yuewen, Liang Wengen, Li Shufu, Nan Cunhui, Lei Jun, Huang Li and Li Dongsheng. 4 were delegates to the 19th Party Congress: Pan Gang, Li Denghai, Zhou Yaxian and Wu Shaoxun

 

Social Media Impact

Superstar actress Zhao Wei had 86 million followers on Weibo.  Her wealth dropped 18% to US$640 million.

2weibo.jpg

3alumni.jpg

Source: 2019 LEXUS·Hurun China Rich List

 

4market.jpg

 


 

Alibaba & Ant Financial have produced the most richlisters, followed by Wens and Xiaomi.

5numbers.jpg

Source: 2019 LEXUS·Hurun China Rich List

 

 

Historical Stats

Year

No. of Dollar Billionaires

No.  of people on list

Cut-off   US$m

Number   One

Age

Wealth   US$bn

1999

0

50

6

Rong Yiren

83

1

2000

2

50

42

Rong Yiren

84

2

2001

1

100

60

Liu Yongxing, Liu Yonghao & brothers  

53, 50

1

2002

0

100

84

Larry Rong Zhijian

60

0.85

2003

0

100

110

William Ding Lei

32

0.9

2004

3

100

150

Huang Guangyu

36

1

2005

7

400

60

Huang Guangyu

37

2

2006

18

500

100

Zhang Yin & family

49

3

2007

106

800

105

Yang Huiyan

25

18

2008

101

1000

100

Huang Guangyu

39

6

2009

129

1000

150

Wang Chuanfu

43

5

2010

189

1363

150

Zong Qinghou

65

12

2011

254

1000

320

Liang Wen’gen

55

11

2012

251

1000

290

Zong Qinghou

67

12.6

2013

315

1000

325

Wang Jianlin

59

22

2014

354

1271

330

Jack Ma Yun

50

25.8

2015

596

1877

310

Wang Jianlin

61

34.4

2016

594

2056

300

Wang Jianlin

62

32.1

2017

647

2130

300

Xu   Jiayin

59

43

2018

620

1893

290

Jack   Ma Yun & family

54

39

2019

621

1819

290

Jack   Ma Yun & family

55

39

 

 

Cut-off


Top   10 Cut-off US$m

Top   50 Cut-off US$m

Top   100 Cut-off US$m

Top   500 Cut-off US$m

Top   1000 Cut-off US$m

1999

145

7

2000

319

51

2001

507

130

5

2002

435

174

7

2003

580

217

130

2004

652

275

181

2005

913

377

246

2006

1594

609

435

116

2007

5,217

1,739

1,087

232

2008

2,899

1,449

986

246

101

2009

4,058

2,101

1,087

3,188

145

2010

5,240  

2,300  

1,510  

440  

240  

2011

5,710  

2,700  

1,750  

590  

320  

2012

5,400  

2,400  

1,670  

560  

290  

2013

6,100  

3,000  

1,970  

660  

325  

2014

7,500  

3,300  

2,300  

750  

400  

2015

10,200  

4,700  

3,200  

1,090  

610  

2016

11,600

4,500

3.300

1,100

600

2017

16,000

6,000

4,000

1,190

670

2018

16,000

6,100

4,200

1,160

590

2019

17,000

7,400

4,300

1,200

600

 

 

Global Distribution of China's Billionaires

There were 621 billionaires either living in or from mainland China. Expanding this to include billionaires of Chinese origin from around the world, there are now 772, down 23 compared with last year.

 

Global Distribution of   China's Billionaires


Place of Residence

No. of billionaires 2019

No. of billionaires 2018

1

Chinese   Mainland

591

618

2

Hong   Kong, China

68

74

3

Taiwan,   China

47

42

4

Singapore

21

22

5

USA

12

9

6

Philippines

10

6

7

Thailand

9

8

8

Indonesia

8

9

9

Malaysia

5

5

10

UK

1

1


Australia

0

1


Total

772

795

Source: Hurun Global Rich List 2019 and 2019 LEXUS·Hurun China Rich List

 

 

In trouble with the law

17 are in trouble with the law, of which 16 are under investigation and 1 is in prison.

 

In prison: Huang Guangyu of Gome.

 

Under investigation: Xiao Jianhua of Tomorrow Holdings, Yan Jinggang of Zhong Ji, Liu Dequn of Morningstar Network Technology, Wang Wenliang of Dandong Harbour, Qiao Tianming of JianNanchun, Zhong Hangen of Huifeng Nonghua, Zhongyu of Kangde Xin,  Sun Yanchao of Bao Ta Petrochemical, Yang Zhuoshu of Zhuoda, Gao Junfang of Chang Sheng Bio, Tang Jun of Xiaohuanggou, Wang Yue of Kingnet, Zhang Changhong of Dazhihui, and Feng Xin of Storm.

 

In addition, Wang Zhenhua of Xincheng was formally charged with sexually abusing a child; Guan Yanbin of Sunflower Pharmaceutical was arrested for suspected intentional homicide.

 

Bankruptcy.  In June, Yinyi Group, founded by Xiong Xuqiang, filed for bankruptcy. In April, Neoglory, founded by Zhou Xiaoguang, filed for bankruptcy.

Divorce.  Lang Guanghui, Sunstore founder, divorced Wang Ping, with a US$93 million settlement; Haixing’s Zhou Liangzhang and Li Xiaoqing divorced; Woer’s Zhou Heping and Qiu Limin divorced with a US$129 million settlement.

 

 

Philanthropists

Lu Weiding, 48, of Hangzhou-based Wanxiang becomes China’s Most Generous with US$720m donation. The Lu Weiding & family is currently ranked 75th on the 2019 LEXUS·Hurun China Rich List with a wealth of US$5.2 million.

In July this year, on the occasion of the 50th anniversary of Wanxiang Group, Lu Weiding announced that according to the wishes of his father Lu Guanqiu, all the assets of Wanxiang Group's audit report as of 2018 were donated to establish the Fund. The entire proceeds of the charity fund will be used to develop new technologies, high-end talent education, scientific research, and support for the establishment of science and technology applied research institutions. The relevant donation work is currently in progress.

 

Hurun China Philanthropy List 2019 Top 10


Name

Donation $m

Major Industries

Company

Age

1 *

Lu Weiding & family

720

Automobile Manufacturing,   Real Estate, Agriculture

Wanxiang

48

2 *

Chen Yidan

500

IT, Investment,   Entertainment

Tencent

48

3 ↓

Xu Jiayin

230

Real Estate

Evergrande

61

4↑

Yang Guoqiang & Yang   Huiyan

140

Real Estate

Country Garden

64, 38

5 *

Xu Yingqiu

88

Real Estate

Kaiyuan

85

6 *

Gong Junlong

73

Real Estate, Investment

Hengyu

50

6 *

Chen Fashu

73

Retail, Investment

Xinhuadu Industrial

58

8↓

Lu Zhiqiang

62

Real Estate, Investment

Oceanwide

67

9 *

Wu Yuanxi & Wu   Yuangang

51

Real Estate

Hanking

61, -

10 -

Huang Rulun & Huang   Tao

47

Real Estate

Century Golden Resources

68, 43

Source: Hurun Philanthropists List 2019, auditing the cash donation, cash related donation, as well as committing with legal effect during April 2018 and March 2019.

↑ Rank increase yoy  ↓ Rank decrease yoy  - No Rank change yoy  * New

 

 

Chinese Star Signs

logo.jpg

2019 LEXUS·Hurun China Rich   List

Chinese   Star Signs


Star Sign

2019%

2018 Rank

2019 Richest Individual

Other   Representatives

1

Rabbit

12.4%

1

Li   Shufu, Zhang Jindong

Liu   Yonghao, Sun Hongbin

2

Dragon

9.8%

2

Jack   Ma

Wu   Yajun, Lu Zhiqiang

3

Snake

9.2%

3

Qin   Yinglin

Chen   Lihua, Ma Jianrong

4

Tiger

8.9%

4

Yan   Hao

Xu   Rongmao, Richard   Liu Qiangdong

5

Monkey

8.4%

5

Huang   Zheng

Ren   Zhengfei, Wang Wenyin

6

Dog

8.0%

6

Xu   Jiayin

Wang   Wei, Yao Zhenhua

6

Ram

8.0%

7

He   Jianfeng

Guo   Guangchang, Wang Xing

8

Horse

7.8%

8

He   Xiangjian

Wang   Jianlin, Yan Bin

9

Pig

7.6%

10

Pony   Ma

Ding   Lei, Zhang Yiming

10

Rooster

7.4%

9

Yang   Huiyan

Zong   Qinghou, Lei Jun

11

Ox

6.5%

11

Zhong   Huijuan

Chen   Tianqiao, Jiang Nanchun

12

Rat

6.0%

12

Zhang   Zhidong

Liu   Yongxing, Zhang Lei

Source: 2019 LEXUS·Hurun China Rich List

 

6surnames.jpg

Source: 2019 LEXUS·Hurun China Rich List

 

 

 

 

Methodology

The Hurun Rich List is a snapshot of wealth as of August 15, the same date as that used for each of the last few years. The exchange rate used for the US dollar was CNY 7, for the Hong Kong dollar was CNY 0.9.

 

The list relates to Mainland Chinese, defined as someone born and brought up in Mainland China, no matter what passport they might hold today, as well as individuals born outside of Mainland China, but who made it here and reside here today.

 

Valuing the wealth of China’s richest is as much an art as it is a science. We have missed some people, many of whom go to extraordinary lengths to hide their wealth, but we believe the Hurun Rich List to be the most serious attempt to identify China’s top entrepreneurs and to measure their holdings. There are shareholders missing from the likes of Alibaba, Tencent, Huawei, Ping An and other big companies, where as little as 1/1000th ownership of the company is enough to make our cut. Our team of researchers has - for the twenty first year running - traveled the length and breadth of the country cross-checking information with entrepreneurs, local government, industry experts, journalists, bankers and regulators, as well as previous years’ databases. For non-listed companies our valuation was based on a comparison with their listed equivalents using prevailing industry Price/Earnings ratios. “I estimate that for every richlisters we have found, we have missed two, meaning that there are most likely to be 6,000 individuals in China with US$290 million.”

 

 


About LEXUS

Since its birth in 1989, Lexus has become the word for "luxury”, a global luxury auto brand providing customers with high quality products and service beyond expectations. At present, Lexus has expanded its business to more than 80 countries and regions including the America, Europe, Asia and Oceania. The first batch of authorized dealerships of Lexus China was officially established in February 2005. There were 214 Lexus dealers in China as of September 30, 2019.

 

Since March 2005, Lexus has introduced its 11 series of luxury auto products including CT, IS, ES, GS, LS, UX, NX, RX, LX, RC and LC to the Chinese market with a total of 19 models on sale at present. The brand has been widely praised and favored by Chinese consumers with reliable quality, excellent performance, comfortable driving and riding experience and Omotenashi service.

 

Since entering the Chinese market, Lexus has been the first auto brand in China to provide customers with a free maintenance and repair warranty* for 4 years/100,000km (6 years/150,000km for Hybrid Intelligence models since 2007), setting the benchmark for premium auto market. Also, Lexus has been able to provide each customer with carefree and confident experience through an extensive range of attentive services, including 48-hour parts distribution, roadside assistance, specialty insurance initiatives, Lexus G-BOOK system, L/Certified by Lexus,10 years/250,000km warranty on hybrid batteries for Hybrid Intelligence models and extended warranty services, etc..

 

In 2018, Lexus' cumulative sales in China reached 160,468 units, setting a new record of annual sales in China.

 

From January to September 2019, Lexus sales in China totaled 144,590 units with 22.8% YOY growth. Among them, the sales of Hybrid Intelligence models were 48,065 units, accounting for 31.8% of the total sales.

 

In 2017, Lexus launched its new brand tagline “领未见·探非凡”(Experience Amazing), and continued to lead luxury industry with relentless innovation and grand vision. Since then, Lexus has been transforming from a traditional luxury auto brand to an emotional luxury lifestyle brand filled with amazing experiences that surpasses new generation luxury consumer’s expectation for individuality and unique consumer experiences.

 

Lexus will continue to provide customers with premium mobile experience by dedicating to its unique business philosophy of “Annual Ring”(年轮经营)focused on steady growth and the “YET Philosophy”, as well as the core values of the brand including Takumi Craftsmanship.

 

* Lexus free maintenance and repair warranty is subject to the terms specified in Lexus Warranty Manual and Lexus User Manual.

 


 

About Hurun Report Inc.

Nobody Knows China’s Rich Better!

 

Established in 1999 by British accountant Rupert Hoogewerf, Hurun Report Inc. has grown into a leading research platform based in Shanghai and Mumbai, best-known for its China and India rich lists, and with 150 employees today. Hurun Report Inc. has four main divisions.

 

Hurun Research Institute ‘World’s Largest Rich List Provider’

 

2019 marks the 20th anniversary of Hurun Report, highlighting the fastest wealth creating period in the history of the world.

 

The Hurun Richest Self-Made Women in the World has been highlighting for over ten years the fact that over 70% of the world’s most successful women in business herald from China, ie Chinese are completely dominant in the world of women in business. This has changed the way the world looks at Chinese women in business.

 

The Hurun China Philanthropy List ranks the most generous individuals in China and is now in its 15th anniversary. With no inheritance tax, Chinese give much more generously than many have previously understood.

 

Two recent lists with an impact include the Hurun China Unicorn Index, ranking the most dynamic businesses with a valuation of US$1bn or more in China; and the Hurun Most Successful University Alumni.

 

In India, Hurun Research has launched the Hurun India Rich List for the seventh time last year, and has an active events business there.

 

‘World Authority on the Chinese High Net Worth Individual’

 

Recent research partners include financial institutions (PingAn, Bank of China, Taikang Life, Minsheng, Citic), local government (Shanghai, Changbaishan) and Global 500 multinationals (Marriott, Country Garden, Agile, Audi, Volvo).

 

Three breakthrough lists this past year: Hurun Good Doctors’ List, a ranking of the 9500 most respected doctors in China, broken down by region and speciality; Hurun Best International Schools List; and Hurun Creative Works Intellectual Property List, in Search of the Harry Potter of China, ranking those online novels with the most valuable IPs.

 

The Hurun Art List ranks the top artists alive today in China for the 12th year and has become a household name amongst artists.

 

Media and Events ‘The Hurun brand gets 200 million views a month in China’

 

The Hurun brand has become one of the few non-Chinese media brands to become a household name across China.

 

Hurun Media monetizes 1 million views a month in China, through its wechat, weibo, website and legacy magazine.

 

Recent themed events include blockchain, fintech and 30 under 30, with industry-respected awards. We deliver 100+ events a year in China, with 200 entrepreneurs from the Hurun China Rich List attending.

 

Hurun Report kicked off the world's largest Chinese New Year dinner series in Shanghai on January 16, and is going to 8 cities across 4 continents. Toronto on Jan 20, New York Jan 23, LA Jan 25, London Jan 28, Istanbul Jan 29, Luxembourg Jan 31 and ending up in Sydney on Feb 18. Hurun Report’s mission is to create the world's largest platform of China gatekeepers.

 

Investments

 

Hurun Investments has a portfolio of 20 companies with a market value of US$50 million, with investments into tech, media, design, education as well as a vintage car race and a tailor.

 

For further information, see www.hurun.net


LEXUS·Classement Hurun 2019

Keywords:China Rich List、Jack Ma、Pony Ma
Author:Hurun Research Institute        Editor:Sky Huang