On November 4th, Forbes released its annual list of the richest in mainland China. For the 100 richest people in Mainland China, despite the challenges of the past year, they still benefited a lot: the total wealth of those on the list increased from 1.33 trillion US dollars last year to 1.48 trillion US dollars.
In the past year, China’s social and economic environment has experienced waves of waves. Policy changes in the education and technology sectors, as well as the debt problems of some real estate companies, have caused the stock prices of many large private companies to plummet. On the other hand, in response to the Chinese government’s “common prosperity” concept, many Chinese technology companies and their leaders have successively announced that they have invested heavily in this.
Despite constant challenges, the total wealth of those on the list has increased compared to last year. Among them, the biggest increases are those who are engaged in the green energy industry, including lithium batteries. Benefiting from China’s global leadership in this industry, its company’s sales performance has seen strong growth. It is worth mentioning that, in addition to being the world’s largest auto market, China is also the world’s leader in electric vehicle sales.
TOP 10 of Forbes China’s Richest List
Source of wealth: Nongfu Spring / Wantai Bio
Industry: Beverages, Biomedicine
Relying on the good performance of the stock prices of the two listed companies, the founder of Nongfu Spring, Zhong Sui Sui, won the top spot in the 2021 China mainland rich list with a fortune of 424.4 billion.
Source of wealth: Bytedance
Industry: Internet, social media
After resigning as CEO in May of this year, Zhang Yiming, the founder of ByteDance, recently stepped down as chairman of the company. Previously, Zhang Yiming said that in the future, the company will put aside daily management, focus on long-term important issues such as long-term strategy, corporate culture and social responsibility, and plan to focus on learning knowledge, systematic thinking, researching new things, hands-on trials and experience, in a ten-year period. Create more possibilities for the company.
Source of wealth: Ningde era
With the establishment of the global dual-carbon goal, CATL has become one of the most watched listed companies in the A-share market in the past year, with a total market value exceeding one trillion yuan, which also helped founder Zeng Yuqun to rise to the third place on the list. In addition to ranking first in the world’s power battery installed capacity for many years, CATL is actively deploying new energy vehicles, lithium batteries, energy storage and other industrial chains through investment and other means, and extending its reach to the field of large travel. In the first three quarters of this year, CATL’s total revenue exceeded 70 billion yuan, and net profit attributable to its parent reached 7.75 billion yuan.
Source of wealth: Tencent
Industry: Instant messaging, portals, online games
With the tightening of the global technology industry supervision, this year, China’s Internet industry has also entered a strong supervision mode. This has put pressure on the performance of the entire industry in the capital market, and Tencent’s market value has also been adjusted downward along with the industry’s valuation center. This year, Tencent announced that it will invest 100 billion yuan to help “common prosperity”
Source of wealth: Alibaba
Industry: E-commerce, financial technology
Affected by factors such as anti-monopoly regulation on Internet platforms, Alibaba’s stock price has fallen by more than 40% in the past year. Since the suspension in November last year, the listing of Ant Group, an important subsidiary of Ali, is still unclear. All of these have led to a significant decrease in Ma Yun’s personal wealth compared with last year. Nevertheless, as Alibaba’s second growth curve facing the future, Alibaba Cloud’s sales last year exceeded 60 billion yuan, a year-on-year increase of 50%.
Source of wealth: Pinduoduo
In March of this year, Huang Zheng resigned as chairman of Pinduoduo. In his internal letter, he stated that he will devote himself to research in the fields of food science and life sciences, and focus on the long-term development of Pinduoduo in the future, “to touch the stones on the road in 10 years.” In addition, Huang Zheng and the founding team of Pinduoduo also initiated and donated the establishment of the Star Science Fund of Zhejiang University Shanghai Institute for Advanced Study. In the next 3-5 years, the fund will be applied to Zhejiang UniversityeducateThe foundation donated 100 million U.S. dollars for scientific research projects in the three innovative laboratories of “computing + biomedicine”, “computing + agricultural food” and “advanced computing”.
Source of wealth: Midea Group
Industry: Household appliance manufacturing, real estate
Midea Group is China’s first 100-billion-level private enterprise without “father to son”. Founder He Xiangjian left the front line but still continues to care, pay attention to and fully support the development of Midea Group. On June 23, Midea Group issued an announcement stating that He Xiangjian had completed his plan to increase his stake in Midea Group by RMB 800 million. Since resigning as chairman of the group in 2012, He Xiangjian has been enthusiastic about charity and public welfare undertakings. Last year, He Xiangjian reduced his stake in Midea Group, raised funds for the construction of hospitals, and set up “harmonious assistance” small and micro enterprise emergency support programs and other public welfare projects.
Source of wealth: Great Wall Motors
The wealth of Wei Jianjun and his wife, Chairman of Great Wall Motors, has increased by US$19.4 billion from a year ago, and the ranking has risen by 30 places. Wei Jianjun stated that Great Wall Motors will achieve its global annual sales target of 4 million vehicles by 2025, of which 80% will be new energy vehicles. In recent years, Wei Jianjun has also successively invested in the construction of Honeycomb Energy, Weishi Energy, Aurora Optoelectronics, etc., in the field of new energy.
Source of wealth: NetEase
Industry: Interactive entertainment, online music, online education, e-commerce, information media
In October this year, Ding Lei mentioned for the first time the “common prosperity” of the music industry. He predicts that by 2025 there will be more than 800,000 independent musicians in China, who will expand the supply of copyright and create industrial value several times higher. He called on the industry to optimize the distribution of copyrights and continue to support original creation so that outstanding musicians can achieve something and gain.
On October 10, NetEase announced a donation of 20 million yuan to help Shanxi’s rainstorm-stricken areas. This is another major social donation by NetEase following the emergency donation of 50 million yuan to Henan’s heavy rain disaster area in July this year. In 2021, Ding Lei will lead NetEase to fully implement its social value, combined with its own technical capabilities and business advantages, to increase investment in multiple areas such as game minor protection, talent employment, green and low-carbon, social donations, and public welfare education. A “responsibility” answer sheet for Internet technology companies.
Source of wealth: SF Holdings
Compared with last year, Wang Wei’s wealth decreased by US$3.4 billion, and his ranking fell out of the top five. In the first quarter of this year, SF Holdings lost nearly 1 billion yuan, exceeding market expectations, dragging down the company’s share price. Although SF Holdings achieved a net profit of 1.04 billion yuan as of the first three quarters, it still fell by 43.5% compared with the same period last year.
Russell Flannery, senior editor of Forbes magazine and editor of China’s richest list, said: “Whether it is electric car batteries, solar energy facilities, or battery manufacturing equipment, these products that address climate change have growing market demand. And it has benefited many Chinese entrepreneurs. This is the main reason why the wealth of some entrepreneurs on this list has risen sharply, and it also means new business investment opportunities.”
After achieving profit growth in the first half of the year, Zhong Sui, the king of bottled water in China and chairman of Nongfu Spring, topped the list for the first time this year with a fortune of 65.9 billion US dollars. Vibrate. In addition, Zhong Suansui’s wealth also benefited from a successful investment in Beijing Wantai Biotechnology Co., Ltd., a pharmaceutical company listed on the Shanghai Stock Exchange, whose share price in mid-October rose 76% from the same period last year.
Ranked second on the list is Zhang Yiming, the founder of Bytedance. As the operator of TikTok, a global social media phenomenon-level application software, Bytedance helped Zhang Yiming become the richest person on this list with the largest increase in wealth, rising from US$27.7 billion last year to US$59.4 billion. The third place on the list is Zeng Yuqun, chairman of the battery manufacturer Ningde Times. As the world’s largest supplier of electric vehicle batteries, CATL’s great success helped Zeng Yuqun become the second-largest person with the second largest increase in personal wealth on the list, rising from US$20.1 billion last year to US$50.8 billion.
In contrast, Tencent CEO Ma Huateng’s wealth fell from last year’s 55.2 billion US dollars to 49.1 billion US dollars, and the ranking also slipped to the fourth place on the list. In addition, due to the postponement of the listing of Alibaba’s financial services subsidiary, Ant Group, and the decline in Alibaba’s own stock price, Jack Ma, who was at the top of the list last year, fell to fifth place this year with a wealth of US$41.5 billion.
New faces among the top 100 on this year’s list include Deng Weiming, President of Zhongwei New Materials (63rd, with assets of US$9.07 billion), Lin Muqin, President of Dongpeng Beverages (84th, with assets of US$7.05 billion), and Jinlang Technology Major shareholders Wang Junshi, Wang Yiming and his son (100th, 5.74 billion US dollars). The billionaires who have returned to the top 100 include Tianqi Lithium Chairman Jiang Weiping (79th, 7.31 billion US dollars).
The minimum threshold required to enter the Forbes 100 richest people in Mainland China has increased from 5.03 billion US dollars a year ago to 5.74 billion US dollars.