The 2023 Hurun Rich List was released on October 24, 2023, with the top three spots going to Nongfu Spring's Zhong Shanshan, Tencent's Ma Huateng, and Pinduoduo's Huang Zheng.

According to the report, 1,241 entrepreneurs with personal wealth of more than 50 billion yuan in China made the list, down 5% (64 people) from last year.

The total wealth of listed entrepreneurs fell 4% (1 trillion yuan) to 23.5 trillion yuan. Zhong Shanshan, 69, of Nongfu Spring, saw his wealth remain largely unchanged from last year, making him China's richest person for the third time with a net worth of 45 billion yuan.

The second and third richest people in China were both updated to the list this year. Ma Huateng, 52, of Tencent, returned to second place after 2020, with his wealth up 30% to 28 billion yuan, mainly due to the growth of Tencent's gaming business and the distribution of Meituan shares by Tencent.

Huang Zheng, 43, of Pinduoduo, entered the top three for the first time with a net worth of 27 billion yuan, up 10 billion yuan (59%) from last year. He is the entrepreneur with the biggest wealth increase on the list this year, and his ranking rose seven places from last year, mainly due to the growth of Pinduoduo's business and the boost from its overseas expansion.

Zhang Yiming of ByteDance and Zeng Yuqun of CATL, who ranked second and third last year, respectively, saw their rankings decline to fifth and fourth this year.

Li Shufu, 60, of Geely, saw his wealth increase by 400 billion yuan (30%) to 17.5 billion yuan, up 10 places to ninth. This is the first time in nearly 20 years that he has surpassed Jack Ma, and it is mainly due to his investments in the new energy vehicle sector, including Zeekr in Hangzhou.

There are 101 entrepreneurs under the age of 40 (including 40 years old) on the list, up 7 from last year. Of these, 39 are self-made, up 3 from last year. Zhang Yiming of ByteDance, 40, is the richest self-made entrepreneur under the age of 40 for the second consecutive year, with a net worth of 245 billion yuan. He is followed by Cai Haoyu, 36, the founder of MiHoYo, with a net worth of 67billion yuan.

Editor: Alexander