The ten richest Chinese language billionaires in 2023

The 10 richest Chinese billionaires in 2023

Prime Chinese language billionaires embrace the founding father of TikTok’s mother or father firm, founders of main e-commerce and know-how corporations, and the president of a tea and bottled water firm. In a down yr for a lot of Chinese language shares, the highest 10 are practically nearly as good as a yr in the past.

cHinas’ billionaire-producing muscle has weakened. The variety of billionaires in mainland China Forbes The thirty seventh annual record of worldwide billionaires has dropped for the second consecutive yr. A complete of 495 billionaires made the 2023 rankings, down from 539 a yr in the past and a file 626 in 2021, because the fallout from the pandemic and geopolitical tensions drove inventory costs down and damage financial development on the earth’s second largest financial system.

Nonetheless, mainland China has the second-most billionaires globally, behind solely america, which has 735 billionaires this yr.

The mainland Chinese language rely doesn’t embrace passport holders from Hong Kong and Macau, which Forbes record individually. Counting these billionaires, Larger China has 562 members on the 2023 record, down from 607 in 2022 and 698 in 2021.

Upset by weaker inventory costs, the mixture wealth of China’s billionaires is all the way down to $1.67 trillion this yr, down from $1.96 trillion final yr and $2.5 trillion final yr. 2021 record. Whereas 76 Chinese language from final yr’s record dropped out, 16 newcomers and 14 returnees who made the record up to now, dropped out, and at the moment are again within the ranks have made the $1 billion reduce.

Collectively, China’s prime ten are value $311 billion, down from $322 billion in 2022 and $447 billion in 2021. .

No. 1 Chinese language listener for the third yr in a row is the bottled water and tea tycoon Zhongshanshan, the founding father of Hong Kong listed firm Nongfu Spring. Zhong, who dropped out of elementary faculty throughout China’s chaotic Cultural Revolution, is value an estimated $68 billion, up from $65.7 billion final yr because of continued demand for bottled water; he ranks because the fifteenth richest particular person on the earth.

Zhong was amongst 5 of the highest ten in China whose fortunes have risen over the previous yr. Notable among the many bunch was the e-commerce billionaire Colin Huangfounding father of Nasdaq-listed PDD Holdings (previously known as Pinduoduo), whose fortune has elevated to about $30.2 billion from $11.3 billion in 2022. PDD’s shares have greater than doubled up to now yr after the profitable introduction of low-cost buying website Temu in america.

Gallery: The world’s 15 youngest billionaires 2023

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The fortunes of different web firm founders additionally soared amid expectations of a restoration in spending after strict pandemic measures have been lifted. Between them: Chris Xufounder of personal quick trend website Shein, which practically doubled his fortune to $10.5 billion this yr, and Baidus Robin Liwhose wealth elevated by $700 million to $7.7 billion.

Listed here are the ten richest folks in China:


#1. Zhongshanshan

Web property: 68 billion {dollars} | Supply of wealth: Drinks, prescription drugs | Residence: Hangzhou

Zhong chairs bottled water and tea beverage producer at Nongfu Spring. It retains the highest richest spot in China, which it gained in 2021 after the corporate’s IPO in September 2020 in Hong Kong. An increase in shares of beverage maker Nongfu Spring offset a decline in shares of its Covid testing provider Beijing Wantai Organic Pharmacy, a producer of Covid-19 testing kits, which it chairs.

#2. Zhang Ying

Web property: 45 billion {dollars} | Supply of wealth: Web means | Residence: Beijing

Zhang is the founding father of ByteDance, which runs the wildly well-liked short-video social media app TikTok. TikTok ranks as one of the vital useful unicorns on the earth, although its valuation has taken successful over the previous yr as a consequence of hypothesis it may very well be banned within the US market. Our valuation estimate for him has dropped to $225 billion from $250 billion a yr in the past, as a consequence of hypothesis that he could also be banned within the US market. Zhang stepped down as chairman of ByteDance in November 2021 after resigning as CEO in Might of that yr, reportedly beneath stress from the Chinese language authorities. Zhang owns 20% of ByteDance.

#3. However Huateng

Web property: $35.3 billion | Supply of wealth: Web means | Residence: Shenzhen

Ma, often known as Pony Ma, is the CEO of internet media large Tencent and owns a 7.4% stake. The Hong Kong-listed firm’s shares have fallen practically 10% over the previous yr on slower development and a tightening of Communist Get together guidelines on Web companies. One in every of Tencent’s most profitable investments is within the US firm Epic Video games, makers of the vastly well-liked recreation Fortnite; acquired 40% of the corporate in 2013 for $300 million, a stake now value greater than $6.8 billion.

#4. Colin Zheng Huang

Web property: $30.2 billion | Supply of wealth: Ecommerce | Residence: Shanghai

Huang is the founding father of PDD Holdings, the Chinese language e-commerce firm that modified its identify from Pinduoduo in February. PDD shares traded on the Nasdaq have greater than doubled up to now yr, helped by the September 2022 launch of Temu, a US low-cost buying website that competes with Shein, led by fellow Chinese language billionaire Chris Xu. Huang, who owns practically 28% of PDD Holdings, stepped down as chairman of the corporate in March 2021.

#5. William Lei Ding

Web property: $26.7 billion | Supply of wealth: On-line video games | Residence: Hangzhou

Ding is the CEO of Nasdaq-listed and Hong Kong-listed NetEase, certainly one of China’s largest on-line gaming corporations. Shares and Ding’s fortunes have soared in latest months after China eased restrictions on the import of international video games following a two-year crackdown.

#6. Jack Ma

Web property: $23.5 billion | Supply of wealth: Ecommerce | Residence: Hangzhou

As soon as China’s richest particular person, the co-founder and former chairman of Alibaba, and an icon of mainland non-public sector success, made headlines this March by returning to China after a number of months abroad. He had gone silent between shifting authorities insurance policies in the direction of Web corporations, abroad listings and accumulation of wealth. However he nonetheless owns about 3.8% of Alibaba, which introduced in late March that it will cut up into six corporations.

#7. He Xiangjian

Web property: $23.4 billion | Supply of wealth: House home equipment | Residence: Foshan

House equipment billionaire He Xiangjian is a co-founder of Shenzhen-listed Midea Group; he stepped down as chairman in 2012. Midea’s inventory fell final yr on slowing development in China, tumbling his fortune from $28.3 billion a yr in the past. Midea is promoting its ovens and fridges in america and Europe, attempting to compensate for weaker gross sales in China.

#8. Wang Wei

Web property: $21.2 billion | Supply of wealth: Parcel supply | Residence: Shenzhen

Wang based and chairs the parcel supply firm SF Holdings. The Shenzhen-based firm ranks as the most important built-in specific logistics supplier in China and the fourth largest on the earth based mostly on revenues. Wang’s fortune declined from $24.3 billion final yr because the fallout from Covid damage his firm’s enterprise and shares listed on the Shenzhen Inventory Change.

#9. Li Shufu (sure)

Web property: 19 billion {dollars} | Supply of wealth: Vehicles | Residence: Hangzhou

Li Shufu (often known as Eric Li), China’s richest automotive entrepreneur, chairs Zhejiang Geely Holding, which holds direct and oblique stakes in automakers that embrace Volvo, Daimler, Geely Automotive and Polestar. His fortune fell by $4.7 billion up to now 12 months as shares of Geely Automotive fell. Auto purchases in China elevated in 2022, however at a slower tempo than in earlier years.

#9. Wang Wenyin (sure)

Web property: 19 billion {dollars} | Supply of wealth: Non-ferrous metals | Residence: Shenzhen

Wang is the founding father of the privately held Amer Worldwide group, one of many world’s largest suppliers of non-ferrous metals. He owns about 75 % of the Shenzhen-based firm, which has greater than 30,000 staff and reported income of about $112 billion in 2021, in accordance with Fortune. Firm slogan Amers: The unity of information and motion may also help us make our desires come true.


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