160 billionaires exit Hurun China Rich List 2022

(ECNS) -- A total of 1,305 individuals holding more than five billion yuan (about $710 million) in China were included in the Hurun China Rich List 2022 released by Hurun Research Institute on Tuesday, down 11 percent from last year, or 160 people, while 17 born after the 1990s were included in the list.

The institute found the total wealth of these entrepreneurs decreased by 18 percent from last year to 24.5 trillion yuan.

The number of individuals with 100 billion yuan dropped by 11 to 34 this year while the number of billionaires dropped by 239 to 946.

Zhong Shanshan, 68, chairman of China’s largest packaging water supplier, topped the list for the second time with 455 billion yuan, up by 17 percent over last year, or 65billion yuan.

Zhang Yiming, 39, from ByteDance remains in second with a wealth of 245 billion yuan, which dropped by 95 billion yuan, or 28 percent compared with last year.

Zeng Yuqun, 54, founder and chairman of Contemporary Amperex Technology Co., Limited, ranks third with 230 billion yuan, 90 billion yuan less than last year, or 28 percent.

The average age of entrepreneurs on the list is 58, two years older than last year. There are 94 entrepreneurs under the age of 40 (including 40), 16 fewer than last year, of which 36 started from scratch.

The proportion of female entrepreneurs was basically the same as last year, accounting for 26.7 percent, compared with 26 percent last year, with 60 percent self-made. Yang Huiyan, daughter of the founder of Country Garden, is the richest woman in China.