Ma’s fortune rose 45% percent over 2019 to $58.8 billion, according to Hurun Research Institute, which follows the country’s wealthy.
Ma Huateng, founder of Tencent, which operates the popular WeChat messaging service, was No. 2 at $57.4 billion, up 50%. Debuting at No. 3 was Zhong Shanshan, chairman of bottled water brand Nongfu Spring, with $53.7 billion following his company’s Hong Kong stock market debut in September.
Rising share prices created an average of five new Chinese entrepreneurs worth at least $1 billion every week over the past year, according to Hurun’s founder, Rupert Hoogewerf.
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October 23, 2020