Wang Jianlin

Chinese Billionaire Wang Jianlin Bounces Back To Top China’s Rich List

Wang Jianlin reclaims the top spot he had in 2013. After building properties for decades without any listed businesses, Wang’s Wanda brand had two big IPOs: his commercial real estate flagship and one of China’s largest movie theater chains.
Easing GDP growth, a burst stock bubble and a huge state debt overhang might not sound like a prescription for a wealth boom. Yet it’s been another banner year for the richest in China, the world’s fastest-growing source of new billionaires for the past decade. Total holdings of the top 100 members of the new FORBES China Rich List increased by a fifth to $450 billion from $376 billion a year ago. But there’s upheaval in the ranks: Our latest compilation includes 15 first-time members along with 12 returnees, meaning a quarter of last year’s group didn’t make the cut this time.
Internet stocks have cooled pending better earnings. Last year’s No. 1,Alibaba Group Chairman Jack Ma, slipped a notch after investors’ early IPO ardor faded. Last year’s No. 2, Baidu's Robin Li, drops to No. 6 this year on profit worries. But still-galloping Tencent’s Ma Huateng solidified his No. 3 spot with a $3.2 billion boost.
A bit further down were rising tech stars—No. 17 Jia Yueting, up $4.15 billion with his Leshi Web and video fare. Zhou Qunfei, whose Lens Technology supplies touchscreens to Apple, is suddenly No. 18 at $5.9 billion. Frank Wang of dronemaker DJI debuts at No. 38 with an estimated $3.6 billion.

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