China has too many millionaires

Forbes rankingThey are the richest Chinese

Despite the global mood of crisis, China has 65 new billionaires compared to the previous year. In 2020, the US business magazine Forbes has around 389 places in its billionaires list for the People's Republic. Compared to previous years, the value for 2020 also exceeds the previous record of 382 list places in 2018.

Overall, China's billionaires have a collective net worth of $ 1.2 trillion. The richest ten alone account for 224 billion US dollars. Billionaires from Hong Kong and Macau are not included, Forbes lists them separately.

These are the wealthiest Chinese in 2020

@imago images / ITAR-TASS
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# 10 Wang Wei

With assets of $ 15.2 billion, Wang Wei, founder and owner of the Shun Feng Express package delivery company, opens the top ten. Wang founded the delivery service, which is now the Chinese equivalent of Fedex, in 1993. Today he owns more than 60 percent of the shares. In 2019, SF Express had sales of 112.19 billion yuan.

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# 9 Zahng Yiming

In 2019, Zhang Yiming was ranked 13th of the richest people in China in the Bloomberg Billionaires Index. With a fortune of 16.2 billion US dollars, the head of the software company Bytedance is the ninth richest billionaire in China in the Forbes ranking of 2020. His technology company includes the Tiktok video app, which had around 800 million active users at the beginning of January. Bytedance is valued at $ 75 billion.

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# 8 Colin Huang

Eighth place in the ranking of the richest billionaires in China goes to Pinduoduo CEO Colin Huang. Since it was founded, all signs have been pointing to growth for the e-commerce platform. In 2015, Huang founded the online discounter. Three years later, Pinduoduo went public - making Huang a billionaire overnight with a share gain of $ 13.8 billion. At the end of 2019, around 481.5 million people were using the platform. The online discounter is already seen by many as a competitor to the e-commerce giant Alibaba.

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# 7 William Lei thing

In 2003, William Ding was considered the richest man in China and the first internet and gaming billionaire. With assets of 17 billion US dollars, it is enough for seventh place in the current ranking. The reason for the early success is his software company Netease, which he founded in 1997. Netease develops and operates online games, advertising and email services. Most recently, the company expanded its offering to include films, music and e-commerce. Most recently, however, the lion's share of sales continued to come from the gaming business.

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# 6 Qin Yinglin

With a fortune of 18.5 billion US dollars, Qin Yinglin, CEO of Muyuan Foodstuff, ranks sixth. In 1992, he and his wife, Qian Ying, founded the pig breeding company that is now the largest in all of China. While many entrepreneurs suffered losses in the Corona crisis, the couple's wealth has increased. According to the Hurun research institute in Shanghai, Qin Yinglin and Qian Ying recorded an increase of three billion US dollars.

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# 5 Yang Huiyan

Yang Huiyan is in the top ten of a Forbes ranking twice in 2020. While she is listed as the sixth richest woman in the world with her assets of 20.3 billion euros, she ranks fifth among the richest citizens in China. The 38-year-old holds 57 percent of the shares in the real estate development company Country Garden. She has been co-chairman since December 2018 and runs the business together with her father, Yeung Kwok Keung. Yang Huiyan is also on the board of directors of the education company Bright Scholar Education.