After Alibaba´s IPO, its founder Jack Ma now tops China´s Hurun rich list, says Hurun founder Rupert Hoogewerf to the BBC. “The entrepreneurial spirit that has caught China seems not to be abating”. Jack Ma has now a fortune of US$25 billion.
Hurun Report chairman and chief researcher Rupert Hoogewerf said the list shows “the entrepreneurial spirit that has caught China seems not to be abating”.
“Jack Ma is the 11th Number One we have had in China in the last 16 years, showing the dynamism of the Chinese economy, and a stark reminder of the growth potential that is being realised in the emerging markets”.
The Hurun Report’s rich list is one of the most closely-watched and accurate assessments of wealth in China. The annual report has been published for the past 16 years.
Individuals or families required at least $2.3bn this year to make it onto the list, which is more than 15 times the amount needed a decade ago.
There are a record 354 so-called “dollar billionaires” in China this year, Hurun said, which is a 13% increase from last year.
Overall, the total wealth of the 1,271 people on the list is worth $1.4tn this year.
Hurun said it had been “an amazing year” for the online retail and other IT sectors and a “good year” for entertainment, investments, cars, renewable energy, pharmaceuticals and manufacturing.
On the flipside, Hurun said it had “been a bad year for steel and shipping” and that real estate “could have done a lot worse, bearing in mind the state of the market”.
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