The Hurun Rich List, which ranks China’s wealthiest people with a minimum net worth of 5 billion yuan (US$689.3 million), said only 1,305 people made the mark this year, down 11 percent from last year. “This year has seen the biggest fall in the Hurun China Rich List of the last 24 years,” said Rupert Hoogewerf, chairman and chief researcher of research firm Hurun Report, which compiles the list and is named after Hoogewerf’s Chinese name, Hu Run (胡潤). The founder of TikTok owner ByteDance Ltd (字節跳動), Zhang Yiming (張一鳴), took second place, but saw his wealth fall 28 percent to US$35 billion due to a drop in ByteDance’s valuation. In third place was Zeng Yuqun (曾毓群), chairman of battery giant Contemporary Amperex Technology Co Ltd (寧德時代新能源). Tencent founder Pony Ma (馬化騰) posted the second largest drop in wealth of US$14.6 billion amid sliding tech stock prices, to take fifth place on the list.

Source: Taipei Times November 08, 2022 23:26 UTC