- According to the Hurun Global Rich List 2024, China maintains its position as the world’s billionaire capital, boasting 814 individuals with ten-figure fortunes.
- This impressive figure, though down by 155 from 2022, still outpaces the United States’ 800 billionaires.
The Water King and E-commerce Mogul
At the apex of China’s wealth pyramid stands Zhong Shanshan, the 70-year-old “King of Mineral Water.” As the chairman of Nongfu Spring Co., Ltd. and Yangsheng Tang Pharmaceutical Co., Ltd., Zhong’s estimated net worth of $63 billion solidifies his position as China’s wealthiest individual.
Hot on his heels is Huang Zheng, the 44-year-old founder of PinDuoDuo and Temu, with a fortune of $53 billion. Huang’s success, particularly with Temu’s popularity in the U.S., exemplifies China‘s growing influence in global e-commerce.
Tech Titans and Digital Dominance
The next tier of Chinese billionaires showcases the country’s technological prowess. Ma Huateng, the 53-year-old founder of Tencent, claims the third spot with $35 billion. Tencent’s WeChat super-app has revolutionized social media and digital services in China.
Following closely is Zhang Yiming, ByteDance‘s 41-year-old founder, worth $34 billion. Despite TikTok‘s regulatory challenges in the U.S., Zhang’s innovative spirit continues to drive ByteDance’s success. Rounding out the top five is Ding Lei of NetEase, with $29 billion, showcasing China’s dominance in online gaming and digital entertainment.
Geographical Distribution of Wealth
The concentration of billionaires in China’s major cities highlights the country’s economic hubs. Beijing leads the pack, followed by Shanghai and Shenzhen. This distribution underscores the importance of these urban centers in driving China’s economic growth and innovation.
China’s billionaire demographic tells a compelling story of youth and self-made success. With an average age of 60, Chinese billionaires are notably younger than the global average. The country boasts the highest number of self-made billionaires and female billionaires who have built their fortunes from scratch. This trend reflects China’s dynamic entrepreneurial ecosystem and the increasing role of women in its economy.
