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Larry Rong Zhijian |
China's wealthiest got much richer in the past
year, thanks to the nation's booming economy.
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.
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 the 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 the 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, the ranking has been broadened to
include family fortunes, like that of Chen Tianqiao.
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
(Agencies) | 
Updated: 2005-11-04 11:46
