Forbes Releases 2024 China Mainland Rich List: Zhong Shanshan Ranks First, Zhang Yiming Third

11/08 2024 412

Bianniu News reported today

On November 7, according to the latest Forbes China Mainland Rich List 2024, Zhong Shanshan continued to be the richest person in mainland China with a net worth of $50.8 billion (approximately RMB 363.8 billion); Ma Huateng came in second with $46.8 billion (approximately RMB 335.1 billion), marking his first return to this position since 2020; Zhang Yiming slipped one spot to third place, with a net worth of $45.6 billion (approximately RMB 326.5 billion).

Forbes noted that Zhong Shanshan, the founder of Nongfu Spring, who is facing fierce price wars, saw his wealth shrink by $9.3 billion from last year, bringing his total wealth down to $50.8 billion. However, this did not prevent him from being the richest person in China for the fourth consecutive year.

Huang Zheng, the founder of Pinduoduo, saw his net worth rise by $7.7 billion to $43.9 billion (approximately RMB 314.4 billion), ranking fourth. Zeng Yuqun of CATL ranked fifth, with his wealth increasing by $11.3 billion to $37.1 billion (approximately RMB 265.7 billion).

Additionally, according to Forbes, there are eight new entrants on this year's list, including three co-founders of the gaming company miHoYo, Cai Haoyu, Liu Wei, and Luo Yuhao. According to Sensor Tower's September mobile game market analysis report, miHoYo's turn-based RPG game "Honkai: Star Rail" topped the global revenue growth rankings, with its absolute revenue ranking rising 16 spots to 12th place.

Wang Ning, the chairman of POP MART, also made his debut on the list. By accelerating overseas expansion, POP MART achieved significant revenue growth. Financial reports show that POP MART's revenue in the first half of 2024 was RMB 4.56 billion, a 62% increase from the same period last year. Among them, POP MART's revenue in mainland China in the first half of 2024 was RMB 3.21 billion, a year-on-year increase of 31.5%; overseas market expansion and localized operations contributed to revenue of RMB 1.35 billion, a year-on-year increase of 259.6%, accounting for nearly 30% of total revenue.

Interestingly, Hurun Research Institute released the 2024 Hurun China Rich List on October 29 (with the calculation deadline being August 30, 2024). The rankings on this list differ from those released by Forbes today.

In the 2024 Hurun China Rich List, Zhang Yiming became China's richest person for the first time with a net worth of RMB 350 billion. He is the 18th richest person in China in the past 26 years and the first self-made Chinese billionaire born in the 1980s. Zhong Shanshan, 70, saw his wealth shrink by RMB 110 billion compared to last year, relinquishing his position as the richest person after three years with a net worth of RMB 340 billion, ranking second.

The discrepancy in the ranking of China's richest person has made both lists quite controversial. Bianniu News only releases information for reference. Feel free to take a look.

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