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Jack Ma tops Hurun IT Rich List 2016

(People's Daily Online)    17:14, October 25, 2016
Jack Ma tops Hurun IT Rich List 2016
Jack Ma

Jack Ma, the founder of Alibaba Group, has once again been ranked at the top of the recently released Hurun IT Rich List.

According to the list, Ma and his family have 195 billion RMB in IT assets, which is only slightly less than the 205 billion RMB in total assets listed for Ma on the comprehensive 2016 Hurun Rich List. According to the Hurun Institute, the IT Rich List only counts wealth in the IT sector.

Ma's IT assets mainly include Alibaba and Ant Financial. In 2014, Alibaba went public in the U.S., and its current market value exceeds 1.7 trillion RMB. Ant Financial just completed a round of Series B financing in June, and boasts a market value as high as 400 billion RMB.

Ma has been on the IT Rich list since it was first compiled in 2003. According to the Hurun Institute, Ma's wealth was a comparatively paltry 200 to 300 million RMB in 2003. In just 14 years, his wealth has increased 780-fold. In the IT sector alone, it has increased by an average of 14 billion RMB annually. 

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