eTALK China Insights: Billionaires in China

Billionaires in China
Beijing has overtaken New York in the number of billionaires | Source:

No other country has as many billionaires as China. And in no other country in the world is this number increasing so rapidly.

In 2020 alone, 259 have been added. This means that China has cracked the 1,000-billionaire mark. The number has more than doubled within five years.

With an increase of 75 billionaires in 2021, China now has about 1,114 billionaire entrepreneurs.

#1 Zhong Shanshan

Zhong Shanshan

He is the richest man in China: Zhong Shanshan

The 66-year-old took two of his companies public in 2020, raking in billions. Zhong is the founder of pharmaceutical company Wantai Biological and Nongfu Spring, China’s largest mineral water producer.

With his fortune of around US$ 72 billion, he overtook Jack Ma, the co-founder of the Alibaba Group, to become the 15th richest person in the world.

#2 Zhang Yiming

Zhang Yiming

Now in second place is the 38-year-old founder of ByteDance, the world’s most valuable startup.

At the age of 38, Zhang Yiming has a fortune of around US$ 54 billion.

ByteDance is the parent company of Toutiao and TikTok – more than a billion users access these services worldwide.

#3 Yang Huiyan

Yang Huiyan

The richest woman in China is ranked 13th on the Hurun Global Rich List in China.

Yang Huiyan is a businesswoman and property developer with a net worth of US$ 26 billion as of August 2021.

She owns 57% of the real estate developer Country Garden Holdings. The share was transferred to her by her father Yeung Kwok Keung in 2009.

She is not only the richest woman in China, but also in all of Asia!

More and More Wealth

Wealth Billionaire China Common Prosperity

The luxury sector is booming in China. As of 2021, 45% of all luxury goods worldwide are sold to Chinese customers.

While the number of rich people in China is growing steadily, Chinese President Xi Jinping has issued a new credo:

“Common Prosperity” to reduce the gap between rich and poor

This initially shied away somewhat from luxury brands in China, but the desire for extravagance remains.

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