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Tencent’s Pony Ma becomes richest Chinese: Hurun Global Rich List 2018

By Sun Wenyu (People's Daily Online)    17:13, March 01, 2018

Pony Ma

Pony Ma, founder and chairman of China’s tech titan Tencent, has become the richest Chinese in the world as he total assets have accumulated to 295 billion RMB ($47 billion), according to the Hurun Global Rich List 2018 released by Hurun Report on Feb. 28.

Ma ranked 15th globally, up from 23rd a year ago.

Ma is the 13th Chinese man to top the list since Hurun Report established this ranking program.

The growth in his wealth came principally from the rise of Tencent stock over the past year. Its stock price soared 114.4% in 2017, helping the company enter the exclusive US$500 billion market value club.

A total of 2,694 billionaires (in US dollars) from 68 countries were on the list, adding up to a collective wealth of 66 trillion RMB, or 13.2% of the world’s GDP.

The 64-year-old Chinese real estate tycoon, Wang Jianlin and his family, who ranked 1st in the Greater China category the previous 2 years, places 8th this year with a total net worth of 170 billion RMB.

It is confirmed that the number of Chinese billionaires grew from 210 to 819, 40% more than billionaires in the US. However, 7 of the top 10 richest men in the world are from the US. 

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Web editor: Hongyu, Bianji)

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