According to the Hurun Global Rich List released on March 2, Jack Ma, founder of Alibaba and Ant Group, has not only lost his title as China’s richest man, but also dropped out of the top three of China’s billionaires, coming in fourth place, as his companies have been closely watched by the Chinese Communist Party‘s regulatory authorities.
On March 2, Hurun Research Institute released the Hurun Global Rich List 2021, which shows that 3,228 billion-dollar entrepreneurs from 68 countries and 2,402 companies made the list in 2021. According to the report, the deadline for calculating the wealth of the listed entrepreneurs is January 15, 2021, which is the tenth consecutive year that Hurun Research Institute has released the “Global Rich List”.
Musk, 49, became the world’s richest man for the first Time, increasing his wealth by nearly a trillion yuan from 2020, equivalent to nearly $1 billion every two days, to 1.28 trillion yuan. Most of his wealth comes from his 21 percent stake in tesla, which currently has a market value of nearly $800 billion.
Glittering Zhong, 67, the “king of bottled water,” became the first Chinese entrepreneur to enter the top 10 of the global rich list, ranking seventh with a fortune of 550 billion yuan.
Zhong’s wealth grew mainly due to the listing of Nongfu Shanquan in Hong Kong in September 2020. He also founded another publicly traded company, vaccine maker Wantai Bio, which now has a market capitalization of more than $10 billion, making him one of the few entrepreneurs in the world today to have founded more than one business worth more than $10 billion.
In becoming the richest man in China, Zhong furtively replaced India’s Mukesh Ambani as the richest man in Asia.
In the Top 20 list of China’s richest people, 50-year-old Ma Huateng’s wealth grew 70 percent last year to $480 billion to rank second and 14th in the world, up eight spots from last year.
Huang Zheng, 41, founder of Pindo, saw his wealth grow by 283% in 2020, adding more than $50 billion to RMB 450 billion and surpassing Jack Ma to become China’s third richest person. He also squeezed into the global Top 20 at No. 19, up 41 spots from last year.
Jack Ma, 57, ranks fourth on China’s richest list and 25th globally with a fortune of 360 billion yuan, down four spots from last year. This is also the first time that Jack Ma fell out of the top three to fourth place of China’s rich.
Hurun said, “It’s hard to imagine that the first Chinese entrepreneur to enter the global top 10 is not Ma Huateng or Ma Yun, but Zhong Glittering, who sells water.”
Li Ka-shing and Xu Jiayin, who were in the top five in 2020, both fell out of the top 10, the first time since records began that no real estate entrepreneurs entered the top 10 in China.
Hui is one of a handful of Chinese entrepreneurs whose wealth has shrunk, while huawei‘s 77-year-old Ren Zhengfei’s fortune shrank by 3 percent to RMB 19 billion.
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