Xu Jiayin, chairman of Evergrande Real Estate Group, became the richest person in China with a wealth of 290 billion yuan ($43.84 billion), according to a report by Hurun Research Institute released Oct 12.

Ma Huateng, chairman and CEO of Tencent Holdings, overtook Jack Ma, founder of Alibaba Group Holding, to claim second place with a fortune of 250 billion yuan on the Hurun Rich List 2017 in association with the China-based training platform 36G.

Although Jack Ma only grabbed the third spot with 200 billion yuan, about 43 shareholders of Alibaba and its affiliate Ant Financial made this year’s list with a snapshot of wealth calculations on Aug 15.

This is the 19th annual ranking of the richest individuals in China and the benchmark for being listed has remained 2 billion yuan for five consecutive years.

Here's a list of the top 10 wealthiest Chinese, with two tied at eighth place and two tied at tenth.

No 10 Li Shufu and Li Xingxing (father and son)
Wealth: 110 billion yuan ($16.63 billion)
Company: Zhejiang Geely Holding Group
Industry: Car manufacturing

Li Shufu, chairman of Zhejiang Geely Holding Group, attends the Fourth World Zhejiang Entrepreneurs Convention in Hangzhou, East China's Zhejiang province, Nov 29, 2017. [Photo/IC]