Business / Economy

A wealth of Chinese billionaires appears on global rich list

By Yu Ran in Shanghai (China Daily) Updated: 2014-02-26 08:46

He also is the highest-ranked executive from the Chinese mainland, having ranked 26 on the global rich list since it began. Small wonder Wang was Hurun's Most Respected Entrepreneur of the Year for 2013.

A wealth of Chinese billionaires appears on global rich list

Wealthy shift focus to investment: Survey

Billionaire ranks on rise

Technology overtook real estate to become the biggest wealth-creating sector, by producing the most billionaires with the number of 257, accounting for 13.7 percent of the entire list.

Alpha Animation of China and Alibaba appeared on the list of tech and media stocks that rose by more than 50 percent.

"The US economic recovery and an IT boom have driven the world's billionaires to record levels," said Hoogewerf.

In addition, with 245, China has more billionaires with companies listed on its stock exchanges than the US, which has 240 such billionaires. US stock exchanges had a good year, with a gain of 33 percent, followed by China with 22 percent and the UK with 11 percent.

Meanwhile, Jack Ma of Alibaba and Pony Ma of Tencent are racing for the domination of China's Internet space.

Jack Ma tripled his fortune to $7.1 billion, ranking 192 globally, while Pony Ma ranked 70 with $14 billion.

Alibaba, of which Jack Ma owns 7 percent, dominates e-commerce in China and is expected to be worth more than $100 billion after the much-anticipated IPO later this year.

In the meantime, Tencent's WeChat tool introduced by Pony Ma dominates communications.

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