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China's rich are getting poorer in new Hurun Rich List

Source:Hurun Report Published: 2012-9-24 16:26:24

The Hurun Research Institute released on September 24 the Hurun Rich List 2012, an annual ranking of the 1,000 richest individuals in China.

In a year when the Shanghai Stock Exchange fell 23 percent, 469 of the Hurun Top 1,000 saw their wealth shrink, 291 saw their wealth grow, 114 stayed the same and there were 150 new faces and .37 individuals saw their wealth shrink by over 50 percent.

There were 251 dollar billionaires in China ranked this year, down 20 on last year, but still hugely up on as little as six years ago when there were only 15 billionaires.

The average wealth of the Hurun Top 1,000 is down 9 percent to $860 million, but still almost double that of 2008 when it was $439 million.

Solar, textiles and retail have been the hardest hit this year. Entertainment, IT, natural gas and property developers sitting on large landbanks, have had a good year.

Rupert Hoogewerf, Hurun Report Chairman and Chief Researcher said, "Although this year has seen some significant wealth bloodletting, it is worth remembering that these entrepreneurs are still up 40 percent on two years ago and almost ten times ten years ago."

 

Hurun Rich List 2012 - The Top 10

 

    Wealth
$bn
Company Source of Wealth
1 ↑ Zong Qinghou & family 12.6 Wahaha Drinks
2 ↑ Wang Jianlin 10.3 Wanda

Property, cinemas

3 - Li Yanhong 8.0 Baidu Search engine
4 - Yan Bin 7.9 Reignwood Red Bull, property, investments
5↓ Liang Wengen 7.3 Sany Heavy machinery
6↑ Liu Yongxing & family 7.1 East Hope Aluminium, feed
7↑ Ma Huateng * 6.5 Tencent IT
8↓ Wu Yajun & family 6.0 Longfor Property
9↓ Xu Jiayin 5.5 Evergrande Property, Soccer Team
10↑ Chen Lihua * 5.4 Fu Wah Int'l Property

 

Source: Hurun Rich List 2012 sponsored by Hainan Clearwater Bay of Agile
↑ Rank increase yoy  ↓ Rank decrease yoy  - No Rank change yoy  * New to Top 10

The Top 10

'Drinks King' Zong Qinghou, 67, of the Wahaha Group has regained the top berth he held in 2010 and becomes only the third person in 14 years to retain the crown. Zong tops the Hurun Rich List 2012 with a personal fortune of $12.6 billion, based on his 80 percent holding of soft drinks brand Wahaha, which last year reported net profits of over $1billion.

58-year-old Wang Jianlin's wealth jumped 44 percent to $10.3 billion, bouncing Wang into second place. Earlier this year, Wang shook up the entertainment industry with the announcement of a $2.6billion acquisition of US cinema chain AMC Entertainment, the largest international acquisition by someone from the Hurun Rich List to date. Wanda's core business remains its property arm, particularly its shopping malls, which continue to spring up all over the country and last year turned over $16billion.

Robin Li Yanhong, 44, is in third place again with a net worth of $8 billion, based on his 16 percent of Baidu. Google's withdrawal from the Chinese market two years ago has allowed Baidu to cement its position as the number one choice for Chinese-language internet search services. Baidu has a market cap of over $50billion.

Yan Bin, 57, of Reignwood, is fourth again with $7.9 billion, and is the second member of the drinks industry to make the Top Five. Yan holds the Chinese rights for the Red Bull energy drink and has this year invested into a $200 million property in London, which he is planning to turn into a hub for Chinese business people in Europe.

Last year's Number One, Liang Wen'gen saw his share price drop, resulting in a fall to fifth place. The Sany Group, in which Liang owns 58 percent, has contributed seven individuals to this year's Top 1,000, more than any other single company. This past year, Liang purchased a German machinery builder for $400 million, in the largest Sino-German acquisition to date.

Liu Yongxing, the richest man in 2001, jumped two places to sixth this year with a total wealth of $7.1 billion.

Pony Ma Huateng comes in at seventh with a personal wealth of $6.5bn. Tencent Holdings is the largest company by market share of anyone on this year's Hurun Rich List, with a market cap of $65bn.

Wu Yajun, 47, keeps the title of richest woman in China and the richest self-made woman in the world for the second year running. The property tycoon has built Longfor into one of China's premier developers, placing her at 8th place with $6 billion.

Xu Jiayin stays in the top ten this year but falls 4 places to 9th after suffering a dramatic drop in his share price. Xu has been spending heavily on his soccer team, which won the Chinese Super League this past season.

71-year-old Chen Lihua is the second self-made woman to make the top ten of the Hurun Rich List 2012. Chen's $5.4bn fortune derives from her prime commercial property in the heart of Beijing.

The average age of the Top Ten is 56 years, four years older than the average of the Top 1000.

Beijing is Home to 123 of the Hurun Rich List

Beijing is the city with the most Hurun Rich Listers with 123 making the capital their homebase, up 12 on last year. Shanghai snatched back second place from Shenzhen as the second most popular city with 80 individuals.

By province, Guangdong continues to lead the way with 174 individuals, followed by Zhejiang on 141. Interestingly, Inner Mongolia, famous for its coal miners, has overtaken HK for the first time, with 29 individuals based there compared with only 23 for Hong Kong. This year, for the first time, we had entrepreneurs from every region in China, including the first one based in Qinghai and four based in Tibet.

By birthplace, Zhejiang is head and shoulders above those born in Guangdong and Jiangsu. 157 individuals were born in Zhejiang, compared with 114 and 96 for Guangdong and Jiangsu respectively.

 

  City No. of individuals
1 Beijing 123
2 Shanghai 80
3 Shenzhen 74
4   Hangzhou 52
5 Guangzhou 39
6 Suzhou 29
7 Hong Kong 23
8 Chengdu 22
9

Nanjing

21
10 Ningbo 19
10 Wenzhou 19
12 Shaoxing 18
13 Ordos 17
13 Tianjin 17
15 Chongqing 15
15 Fushan 15
15 Dongguan 15
17 Changsha 13
18 Fuzhou 12
18 Xiamen 12

 

 

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