Hurun China Rich List 2021: 1185 Billionaires in China, Rabbits are Best Performers

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Hurun China Rich List 2021: 1185 Billionaires in China, Rabbits are Best Performers

29th October 2021 | Hong Kong

The Hurun Research Institute releases the Hurun China Rich List 2021, with 1,185 billionaires in China and 2,918 individuals with wealth of CNY 2 billion or more ($310 million).  Only 4% or 122 individuals inherited their wealth and for the 1st time, real estate did not have a single entrepreneur in the Top 10.  Shanghai was the fastest growing cities and those born in the year of the Rabbit continues to be the best performers, for an unprecedented 10 years in a row.  Key findings below:

“ Hurun China Rich List 2021: 1185 Billionaires in China “

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Hurun China Rich List 2021

Hurun China Rich List 2021 Key Findings:

• 2,918 individuals with wealth of CNY 2 billion or more ($310 million)
• There are 1,185 billionaires in China
• China added almost one dollar billionaire a day in 2020
• Total wealth in China rose 24% to $5.3 trillion, 6 times that of 10 years ago
• For the first time, real estate did not have a single entrepreneur in the Top 10
• Evergrande’s Xu Jiayin, who topped the list in 2017, fell to 70th from 5th in 2021 with US$11.3 billion
• Home tutoring provider Zhang Bangxin of TAL Education was down 94%, losing $14 billion, to $890 million
• Shanghai was the fastest-growing city, adding 78 in the year to 294
• Only 4% or 122 individuals inherited their wealth.
• The Hurun Rich List includes Hong Kong, Taiwan and Macao, resulting in 197 making the list for the first time.
• Those born in the Year of the Rabbit continue to be the best performers, for an unprecedented 10 years in a row.
• Dragons and Snakes were second and third. Rats were still the worst performers, and this year’s Ox were second to last.

The China Top 10 Richest:

1. Zhong Shanshan (Age 67, Bottled Water)- $60.6 billion
2. Zhang Yiming (Age 38, ByteDance, Tiktok) – $52.8 billion
3. Zeng Yuqun (Age 53, CATL Car Battery) – $47.4 billion
4. Pony Ma (Age 50, Tencent) – $49.2 billion
5. Jack Ma (Age 57, Alibaba) – $39.6 billion
6. Huang Zheng (Age 41, Pinduoduo) – $35.6 billion
7. Wei Jianjun & Han Xuejuan (Age 57 & 55, Great Wall Motor) – $33.9 billion
8. Li Ka-Shing & family (Age 93, Cheung Kong) – $33.4 billion
9. He Xiangjian & family (Age 79, Appliance Maker Midea) – $33.1 billion
10. Wang Wei (Age 51, SF Express) – $30 billion

The Hurun Research Institute released the Hurun China Rich List 2021, in association with premium baijiu brand Hengchang Shaofang.  The Hurun Rich List includes Hong Kong, Taiwan and Macao, resulting in 197 making the list for the first time.

Rupert Hoogewerf, Hurun Report Chairman and Chief Researcher:

“A boom in new energy entrepreneurs, sparked by carbon reduction targets, as well as a spate of new listings of tech-related companies drove this year’s Hurun China Rich List to records heights, adding more than 20%, both in terms of number of individuals and also total wealth. Another factor was adding in entrepreneurs from HK, Macao and Taiwan for the first time, however, with only 200, this was not a significant factor.

100 times in 20 years. Twenty years ago, we could only find 19 individuals with US$300mn, but over the last 20 years, this has grown over 100x to almost 3,000, showing the growth of the Chinese economy. Based on this trajectory, expect the Hurun China Rich List to grow to as many as 5,000 within ten years. At the billionaire level, it is a similar story: Back in 1999, there were none, with the first wave of 100 coming through in 2007, before breaking through the 500-mark in 2015 and since Covid, almost doubling to 1185 known billionaires today, 50% more than the US, which has just under 700 known billionaires. At this rate, expect China to have 2,000 known billionaires by 2030.

Half of this year’s list are new faces compared with five years ago, showing the dynamism of China’s private sector. New sectors and business models are changing the landscape of the list. 20 years ago the top 10 was led by agriculture, then 10 years ago it was real estate. Five years ago it was the second wave of internet platforms, whilst today it is new energy.”

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