Wednesday, September 11, 2013

China's Top 1000 Richest: Hurun Wealth Report 2013 Says Top Five Have Combined Wealth Equal To Microsoft Corporation (MSFT) Bill Gates' getdiscountz.blogspot.com

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getdiscountz.blogspot.com ® China's Top 1000 Richest: Hurun Wealth Report 2013 Says Top Five Have Combined Wealth Equal To Microsoft Corporation (MSFT) Bill Gates'

There were 64 Chinese who made enough money to be considered dollar billionaires in the past year, making China’s total number of super-rich 315 – a huge leap from exactly zero a decade ago, according to the Hurun Wealth Report 2013. The top five richest have seen their fortunes double, and now, together, they have as much as Bill Gates.




The Hurun Report, a leading authority on China’s wealthy, just released its 2013 China Rich List, and the new richest man in China is 59-year-old Wang Jianlin. Wang’s Dalian Wanda Group purchased American cinema chain AMC last year, and announced this year the building of the tallest residential tower in London with plans for hotels in New York City. Wang saw his wealth double to $22 billion in the past year, which is about a third of the fortune of Microsoft Corporation (Nasdaq:MSFT) founder Bill Gates at around $67.5 billion.


Zong Qinghou, owner of the popular canned drinks group Wahaha and last year’s top billionaire, increased his fortune about 50 percent in the last year, but still came behind Wang with $18.7 billion. The rest of the top five are new to the elite group – Pony Ma, who is the CEO of Tencent, the tech company that operates China’s most popular instant messaging software QQ, Wei Jianjun, the Chairman of Great Wall Motor, and real estate developer Yang Huiyan, the 32-year-old who became the majority shareholder of Country Garden Holdings, which was started by her father in 1997.


Despite of fears of a real estate bubble in China, one in four on the list of top 1000 made their fortune in real estate, which overtook manufacturing to become the top source of wealth for the list this year. IT and entertainment also had a great year, with the number of individuals making their money from these industries growing 20 percent.


The number of wealthiest in natural resources, especially coal mining, manufacturing, steel, retail and apparel dropped between five to 10 percent this year. Pharmaceuticals, investments and auto had a good year.


The youngest self-made billionaire is 39-year-old Richard Liu, founder of the online retailer, 360buy Jingdong Mall. Liu started out with a company that sold magneto-optical products, but in 2003, owing to China’s SARS incident, Liu was forced to close all his shops and change his business model to e-business.


Overall, 599 of the top 1000 saw their wealth grow, while 252 saw their wealth shrink, according to the Hurun Wealth Report 2013.



China's Top 1000 Richest: Hurun Wealth Report 2013 Says Top Five Have Combined Wealth Equal To Microsoft Corporation (MSFT) Bill Gates'

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