Hurun releases list of Chinese billionaires under 40

Wang Qicheng and Wu Yan tops the self-made rich list  Photo: image.baidu.com 
 
Hurun Report recently released the 2016 Hurun Rich List of billionaires aged 40 or below, made up of those self-made rich and those who inherited the wealth. China’s most high-profile second-generation billionaire Wang Sicong, the son of real estate and entertainment magnate Wang Jianlin, was listed 11th on the inherited wealth ranking while former basketball star Yao Ming listed 18th on the self-made rich.  
 
Hu Run (Chinese name of Rupert Hoogewerf), the chief researcher of the rich list institute, said that for the first generation entrepreneurs, credibility, integrity and diligence are the most valued traits, while for those born in the 1980s, innovation, resources integration and speed are the most important elements.  
 
Twenty-one self-made billionaires made into the rich list, five more than last year, with a total wealth of RMB159.5 billion and average wealth of RMB7.6 billion. Most of the successful entrepreneurs are engaged in the IT industries. Wealthy business inheritors on the list own assets of RMB20.5 billion on average.
 
Self-made rich top three 
 
Wang Qicheng, the founder of Hakim Unique, was a sophomore in the Zhejiang University 15 years ago, when he earned his first bucket of gold of RMB1 million in 8 months as a sales agent of fiber converter. The MBA post-graduate soon founded technology company Hakim Unique after graduation and listed it on the A-share market in just 10 years. Wu Yan, the wife of Wang, now works as the president of Hakim Unique joint-stock company. The couple are ranked 75th on the 2016 China Rich List with a total wealth of RMB24.5 billion. 
 
Wang Tao, the founder of Shenzhen’s DJI-Innovation launched the Phantom drone, gaining global fame for his easy-to-use “flying camera” and raising the credibility of “made-in-China”. Wang is ranked 77th on the 2016 China Rich List with a wealth of RMB24 billion. 
 
Cheng Wei, the founder of Didi Chuxing, was employed by Alibaba for eight year before 2012, when he founded his own technology company and launched the ride-hailing app Didi Dache, which was renamed Didi Chuxing last year after its merger with another similar app company. In June, Didi Chuxing raised another RMB50 billion of funds, and in August, it acquired Uber China to be able to deploy 15 million drivers through its platform. Together with Bobby Murphy and Evan Thomas Spiegel of Snapchat, Chen Wei has become a young entrepreneur who accumulated US1 billion the fastest—in merely three years. Hu Run thinks Didi Chuxing is the most ground-breaking app of recent years. 
 
The Inheritors   
 
Yan Hao, the 30-year-old inheritor of China’s Yan family business empire, tops the list of inheritors with a personal wealth of RMB100 billion. Yan led the Pacific Construction Group into the top 100 companies of the Fortune 500 last year, with annual sales of RMB480 billion. He took the sixth place on this year’s Hurun China Rich List.   
 

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