On Oct. 20th, the Hurun Research Institute released the Hurun China Rich List 2020 a ranking of the richest individuals in China, with a wealth cut-off of CNY 2 billion, equivalent to US$290 million. Wealth calculations are from 28 August. This is the 22nd year of the list. 

This year has seen the biggest wealth increase in the 22 years of the Hurun China Rich List. Stock markets boom and a flurry of new listings have minted five new dollar billionaires in China a week for the past year. Jack Ma, 56, for the third year running retained top spot with US$58.8bn, up 45% on the back of the impending IPO of fintech platform Ant and a strong performance by ecommerce platform Alibaba. Despite giving away over US$10bn, Jack Ma is still Number One. Pony Ma, 49, was second, with his wealth up 50% to US$57.4bn on the back of Tencent’s gaming business doing better than expected, its Wechat service expanding and good returns on some of its investments, led by Tesla, Meituan, Pinduoduo and JD. Low-key Zhong Shanshan, 66, of YST, best-known for bottled water brand Nongfu, shot straight into the Top 3 with US$53.7bn The Top 3 are neck and neck, all making it to Number One this year. Pony Ma started the year as Number One, Zhong Shanshan was Number One for an hour on the day of his IPO in September, but Jack Ma took the official prize on the China Rich List.

2398 individuals made the cut of CNY 2 billion, up 32% or 579 individuals on last year.There are 3 entrepreneurs in IVD industry, Li Xiting & Xu Hang of Mindray, Zhong Shanshan of Wantai Bio. There are over 30 entrepreneurs selected onto the list with 2 billion as the threshold.

The richest people in China (IVD industry)