24/7 Insights
- China has the most billionaires in the world.
- There is no common industry among the wealthiest people in China.
- China’s wealthiest billionaire is ranked 30 on the Forbes list.
- Also: 2 Dividend Legends to Hold Forever
If you surveyed a group of people and asked which country had the most billionaires in the world, there is a good chance many would respond and say it’s the United States. However, for as many billionaires as the US does have, there is a country that has even more. China, America’s biggest frenemy, is home to 814 billionaires, above the 756 billionaires that call America home, according to real-time Forbes September 2024 data.
Why Is This Important?
For the 24/7 audience, the wealth in China indicates how companies like BYD might like to break into the American market and find a whole new customer base. As ByteDance has already been successful with TikTok, the writing is on the wall for more Chinese billionaires to expand their businesses beyond Asian markets, just as the Chinese market is vital to brands like Apple, Tesla, and General Motors.
12. Wang Wei
- Net worth: $13.8 billion
Better known as Gary Wang, Wang Wei is the cofounder of Tudou.com and is also the founder of Light Chaser Animation Studios. Through his various interests, Wei is the 12th wealthiest person in China.
11. Lu Xiangyang
- Net worth: $15.0 billion
The co-founder of BYD Company, Lu Xiangyang, made his net worth alongside his cousin Wang Chuanfu. BYD company is the world’s largest manufacturer of plug-in electric vehicles.
10. Lei Jun
- Net worth: $15.2 billion
Lei Jun founded the consumer electronics giant Xiaomi, which has made him one of China’s wealthiest people. His company is the world’s second-largest smartphone manufacturer behind Samsung.
9. Qin Yinglin
- Net worth: $15.3 billion
Qin Yinglin, chairman and President of Muyuan Foodstuff, made his net worth in pig farming. His company is the largest pig breeder in China, which just so happens to be the world’s biggest pork market.
8. Wang Chuanfu
- Net worth: $19.1 billion
The co-founder of BYD company, Wang Chuanfu’s company includes several subsidiaries that manufacture automobiles, electronic parts, batteries, solar panels, semiconductors, and more.
7. He Xiangjian & Family
- Net worth: $24.9 billion
He Xiangjian, co-founder of Midea, and his family own one of China’s largest appliance brands. Midea makes kitchen appliances, laundry units, and refrigerators.
6. Jack Ma
- Net worth: $25.4 billion
Jack Ma, the founder of Alibaba Group, is one of the best-known names on this list. He has long been considered one of China’s best international ambassadors after growing Alibaba into a global e-commerce and retail giant.
5. William Ding
- Net worth: $26.2 billion
Ding Lei, also known as William Ding, is the founder and CEO of NetEase, one of China’s biggest internet technology companies. The company develops PC and smartphone games as well as email services.
4. Colin Huang
- Net worth: $32.7 billion
Colin Huang, the founder of the e-commerce brand Pinduoduo, owns China’s largest agriculture company. He also owns three other limited liability companies and is a software engineer by trade.
3. Ma Huateng
- Net worth: $40.1 billion
Ma Huateng, Tencent’s co-founder, founded one of the most valuable companies in East Asia. The company owns the popular WeChat service, which is estimated to have more than one billion users globally.
2. Zhang Yiming
- Net worth: $43.4 billion
Zhang Yiming is currently one of China’s wealthiest men and also one of the most visible. As the founder of ByteDance, Yiming has frequently been in the US news over the government’s investigation into TikTok’s use of user data.
1. Zhong Shanshan
- Net worth: $45 billion
Zhong Shanshan, the founder of Nongfu Spring beverage company and the majority owner of Beijing Wantai Biological Pharmacy Enterprise, is currently the wealthiest person in China.
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