Jack Ma has lost the title of China’s richest man, says an article published in The Guardian.
Peers prospered
Alibaba and Ant Group founder Jack Ma has lost the title of China’s richest man, a list published on Tuesday showed, as his peers prospered.
Ma and his family had held the top spot for China’s richest in the Hurun Global Rich List in 2020 and 2019.
Now Ma trails in fourth place behind bottled water maker Nongfu Spring’s Zhong Shanshan, Tencent Holding’s Pony Ma, and e-commerce upstart Pinduoduo’s Collin Huang, the latest list showed.
Ma, who is not known for shying away from the limelight, disappeared from the public eye for about three months, triggering frenzied speculation about his whereabouts. He re-emerged in January with a 50-second video appearance.
For more read our article Billionaire Jack Ma Disappears Post China’s Crackdown of Alibaba
and also Jack Ma Makes A Sudden Appearance For The First Time In 3 Months
China’s current toppers list
Zhong Shanshan
China’s current richest man, Zhong, made his first appearance at the top spot with a fortune of 550 billion yuan ($85 billion), largely thanks to the share price performances of Nongfu Spring and vaccine maker Beijing Wantai Biological Pharmacy Enterprise, which he also controls.
Tencent’s Ma
Tencent’s Ma saw his wealth swell 70% over the year to 480 billion while Pinduoduo’s Huang’s fortune grew 283% to 450 billion yuan, the list said. In comparison, the wealth of Ma and his family grew 22%, to 360 billion yuan.
Zhang Yiming
Zhang Yiming, the founder of TikTok owner ByteDance, broke into the top five rankings among Chinese billionaires in Hurun’s Global Rich List for the first time, with an estimated personal wealth of $54 billion.
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Source: The Guardian
