The total wealth of the China's 400 Richest surged to $2.11 trillion, from $1.29 trillion a year earlier, Forbes China said on Thursday as per its latest China's 400 Richest 2020, adding that the novel coronavirus pandemic did not slow the pace of fortune creation in China.
Nearly two-thirds of the entrants saw their wealth rise in the past year, and the threshold to be listed this year rose to $1.55 billion from $1 billion a year earlier.
Technological industry leaders create a huge fortune, and initial public offerings are another major driver, especially in technological and healthcare fields, Forbes said.
This list was compiled using shareholding and financial information obtained from the families and individuals, stock exchanges, analysts and regulatory agencies. Private companies are valued based on similar companies that are publicly listed, according to Forbes.
Let's take a look at the top 10 richest people in China on the Forbes' list.
No 10 Xu Jiayin
Wealth: $27.1 billion
Xu Jiayin or Hui Ka Yan, chairman of Evergrande Group, speaks at a football club meeting in Guangzhou on Feb 25, 2019. [Photo/Xinhua]
No 9 Zhang Yiming
Wealth: 27.7 billion
Zhang Yiming, founder and global CEO of ByteDance, poses in Palo Alto, California, March 4, 2020. [Photo/Agencies]
No 8 Yang Huiyan
Wealth: $28.5 billion
Yang Huiyuan is vice-chairwoman of Country Garden Holdings. [Photo/Forbes]
No 7 Huang Zheng
Wealth: $30.6 billion
Huang Zheng is chairman and CEO of Pinduoduo. [Photo from the blog of Huang Zheng]
No 6 Wang Wei
Wealth: $32.2 billion
Wang Wei (right), chairman and founder of SF Holding, rings the bell at the Shenzhen Stock Exchange, at the delivery giant's listing ceremony in South China's Guangdong province. [Photo by Yu Ge/For China Daily]
No 5 He Xiangjian
Wealth: $32.2 billion
He Xiangjian is founder of Midea. [Photo/CCTV]
No 4 Sun Piaoyang
Wealth: $35 billion
Sun Piaoyang, chairman of Jiangsu Hengrui Medicine Co Ltd [Photo/Forbes]
No 3 Zhong Shanshan
Wealth: $53.9 billion
Zhong Shanshan is founder of Nongfu Spring Co Ltd and YST. [Photo provided to China Daily]
No 2 Ma Huateng
Wealth: $55.2 billion
Ma Huateng, also known as Pony Ma, is chairman and CEO of Tencent. [Photo provided to China Daily]
