Hurun Research and Hong Kong Dadi Group jointly released the Platinum Palace - Hurun Midas Rich List of China 2015, a ranking of Chinese investors with US$50 million of personal wealth or more: Guo Guangchang, 48, tops inaugural Hurun Midas Rich List.
- 60% of Midas Rich List are overseas educated; Fudan and Yale graduates rule; 87 Chinese investors found with US$50m or more
- Guo Guangchang, 48, of Fosun is crowned Number One on Hurun Midas Rich List with personal fortune of US$4.5bn; Chen Tianqiao, 42, of Shanda is second with US$2.7bn and Zhang Lei, 43, of Hillhouse is third with US$2.4bn.
- The Hurun Midas Rich List is inspired by the story of King Midas from Greek mythology. King Midas was famous for his ability to turn everything he touched with his hand into gold. This came to be called theGolden touch, or the Midas touch.
- 87 Chinese investors found with US$50m or more of personal wealth, and an average wealth of US$420m. Rupert Hoogewerf said “We managed to rank 87 individual investors from China with fortunes of more than US$50m, but the true number of people with US$50m market could well be closer to 500.”
- 60% are educated overseas, a high percentage. Within China, Fudan University was best represented, making up 4 of the Top 10, whilst Yale made of 2 of Top 10.
- Half of the list came from 15 companies, led by CDH Investment with 6 individuals, JD Capital with 5, IDG and Fosun with 4 each and Sequoia Capital and SAIF with 3 each.
- 12 are women, led by Kathy Xu Xin of Capital Today with US$1bn.
- Beijing is the undisputed capital when it comes to China’s top investors, with 35 headquartered there, followed by Shanghai and Shenzhen with 15 and 10. Interestingly 20 have their head office in the US.
- Average age of 49, four years younger than that of the Hurun China Rich List. Two were born in the eighties.Dai Zhikang, 34, of Angel Investor and Wu Qiang, 35, of JD Capital, are the youngest with US$80m and US$440m.
- Venture capital represented 52%, private equity 42% and angel investors made up 6% of the individuals on the list.
- The average investment company size was only 30 people, although they control companies with many thousands of people. Hoogewerf said “The investment sector has the highest wealth creation per capita in the world.”
- Average year to start up the investment company was 2000, seven years after the entrepreneurs from theHurun China Rich List.
- Chinese star signs. People born in the years of the dragon, rabbit and rooster were most popular, whilst those born in the year of the dog were least popular.
- Platinum Palace, a luxury holiday villa resort in Sanya, Hainan Island, is the title sponsor of the Hurun Midas Rich List. Platinum Palace is developed by Hong Kong Dadi Group.
To qualify for the list, 30% of their wealth must have derived from investments. This is the first year of the list.
Hurun Research found 87 individuals with US$50m or more, of which 9 are dollar billionaires. The total wealth was US$36.5bn, the average was US$420m.
Rupert Hoogewerf (right), Chairman and Chief Researcher of Hurun Report, said: “The stories of these people tell the story of the investment sector in China, many of whom are the unsung heroes behind China’s most successful companies.”
Hoogewerf continues, “I see a clear trend of entrepreneurs in China actively moving towards becoming investors. You can see this through more and more studying EMBAs, and significantly all of them wanting to send their children to the world’s top universities to study finance.”
Xia Jie, President of Hong Kong Dadi Group said: “The people from the Hurun Midas Rich List are among the most international and highly-educated of all Chinese entrepreneurs. Platinum Palace is a luxury villa resort, developed by Hong Kong Dadi Group, catering to the busy entrepreneur looking for a place to relax and let down their hair. It is one of the best-located developments within Sanya, right on the sea and a stone’s throw from the airport and the Sanya city center.”
This is a brief summary of the more detailed Chinese-language press release. Whilst care has been taken to ensure discrepancies were kept to a minimum, if any differences do arise, the Chinese press release prevails.
The Top 10
The average wealth of the Top 10 was US$1.8bn. Two are from Fosun, Guo Guangchang and Liang Xinjun, 2 from CDH Investment, Wu Shangzhi and Jiao Zhen. 6 are headquartered in Shanghai, 3 from Beijing and one in the US.
The average age of the Top 10 was 50. 4 graduated from Fudan University in Shanghai, led by Guo Guangchang, Chen Tianqiao, Liang Xinjun and Yu Feng, followed by 2 from Yale University in the US, led by Zhang Lei and Neil Shen Nanpeng and 1 from MIT, Wu Shangzhi.
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