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Forbes listed China's top-notch magnates
(forbes)
Updated: 2005-11-04 09:30
China's wealthiest got much richer in the past year, thanks to the nation's
booming economy.
The Top
Ten
1 Larry Rong
Zhijian
2 Zhu Mengyi
3 William Ding Lei
4 Wong Kwong Yu
5
Liu Yongxing
6 Liu Yonghao
7 Guo Guangchang
8 Xu Ming
9 Xu
Rongmao
10 Tianqiao Chen | The 40
richest businesspeople are now worth a collective $26 billion, up from $18
billion a year ago.
China is now home to ten billionaires and their families, up from three last
year. A net worth of $321 million was required to make the top 40, up from $231
million last year.
The nation's richest man is once again Larry Rong Zhijian, who runs one of
China's most successful conglomerates, Citic Pacific.
Those who make their money in real estate did particularly well. Moving up
eight slots to number 2 is property baron Zhu Mengyi and family, whose holdings
are in Guangdong Province and whose Hong Kong-listed Hopson Development recently
attracted international investors such as the U.S.' Tiger Fund.
FORBES ASIA estimates his family's fortune at $1.43 billion, up $1 billion
from last year.
Larry Rong Zhijian
[forbes] | Another big gainer was number 11, Zhang
Li, who was ranked 92 in FORBES ASIA's survey last year.
His R&F Properties, which builds everything from five-star hotels in
Guangzhou and middle-class apartments in Beijing, listed on the Hong Kong Stock
Exchange in July.
One low-profile member of our list is number 13, Wu Guodi, the head of Alison
Group, which makes industrial products like steel pipes and also trades oil.
Chen Lihua, the richest woman among the top 40, owns buildings in some of
Beijing's priciest locations.
Among this year's most notable Internet entrepreneurs are Robin Li, cofounder
of newly public Chinese search engine Baidu, and Jack Ma, whose Web site,
Alibaba.com, attracted a $1 billion investment from Yahoo earlier this year.
The youngest on our list is Li Zhaohui, 24, who became the leader of one of
China's largest private steelmakers, Shanxi Haixin Group, after his father was
murdered.
China's top 40 saw much turnover: 17 of this grouping from last year didn't
make the top tier this year.
Unlike FORBES' billionaires list, our ranking has been broadened to include
family fortunes, like that of Chen Tianqiao.
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