{"id":93585,"date":"2020-10-20T19:47:15","date_gmt":"2020-10-20T16:47:15","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/chinas-internet-tycoons-getting-richer-amid-pandemic\/"},"modified":"2020-10-20T19:47:15","modified_gmt":"2020-10-20T16:47:15","slug":"chinas-internet-tycoons-getting-richer-amid-pandemic","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/chinas-internet-tycoons-getting-richer-amid-pandemic\/","title":{"rendered":"#China’s Internet tycoons getting richer amid pandemic"},"content":{"rendered":"

“#China’s Internet tycoons getting richer amid pandemic<\/strong>”<\/p>\n

\n Jack Ma, founder of e-commerce giant Alibaba, held onto his status as China\u2019s richest tycoon this year as surging demand for online shopping and other services during the coronavirus pandemic swelled the fortunes of Internet entrepreneurs, according to a survey released Tuesday.<\/p>\n

Ma\u2019s fortune rose 45 percent percent over 2019 to $58.8 billion, according to Hurun Research Institute, which follows the country\u2019s wealthy.<\/p>\n

Ma Huateng, founder of Tencent, which operates the popular WeChat messaging service, was No. 2 at $57.4 billion, up 50 percent. Debuting at No. 3 was Zhong Shanshan, chairman of bottled water brand Nongfu Spring, with $53.7 billion following his company\u2019s Hong Kong stock market debut in September.<\/p>\n

Rising share prices created an average of five new Chinese entrepreneurs worth at least $1 billion every week over the past year, according to Hurun\u2019s founder, Rupert Hoogewerf.<\/p>\n

\u201cThe world has never seen this much wealth created in just one year,\u201d said Hoogewerf in a statement. \u201cChina\u2019s entrepreneurs have done much better than expected. Despite Covid-19 they have risen to record levels.\u201d<\/p>\n

\"Ma
Ma Huateng, founder of Tencent Holdings<\/span>Visual China Group via Getty Ima<\/span><\/figcaption><\/figure>\n

The richest woman on the list was Yang Huiyan of real-estate developer Country Garden. She was No. 6 at $33 billion, up 29 percent from last year.<\/p>\n

Rankings of China\u2019s richest change abruptly from year to year as real estate, technology<\/a> and other industries rise and fall in the fast-evolving economy.<\/p>\n

This year, the coronavirus boosted the fortunes of Alibaba\u2019s Ma and other Internet entrepreneurs as the shutdown of the Chinese economy to fight the virus propelled demand for online shopping and business tools.<\/p>\n

Eric Yuan of California-based video conference platform Zoom rose more than $10 billion to $16.2 billion. Li Yongxin of Offcn, an online work training platform, more than doubled to $20.6 billion. Chen Xiangdong of tutoring platform Genshuixue rose eightfold to $11.8 billion.<\/p>\n

Ma, 56, retired as Alibaba chairman last year and also is a shareholder in Ant Group, a payments service spun off from Alibaba. It is preparing for a public share offering after being valued at $150 billion in a 2017 private financing round, which will add to Ma\u2019s fortune.<\/p>\n

Entrepreneurs in electric cars, an industry the ruling Communist Party is promoting, also saw their fortunes swell.<\/p>\n

Zeng Yuqun of battery producer CATL trip<\/a>led to $17.6 billion. He Xiaopeng of electric car brand Xpeng, rose 80 percent to $6.6 billion following a stock market debut in New York. Li Bin of NIO rose 300 percent to $3.5 billion.<\/p>\n

Business leaders who tumbled down the list included Ren Zhengfei, founder of Chinese tech giant Huawei. US. export controls imposed in a feud with Beijing over technology and security threaten to cripple its sales of smartphones and switching equipment. Ren\u2019s net worth declined 10 percent to $2.8 billion, according to Hurun.<\/p>\n

Lei Jun of rival smartphone brand Xiaomi saw his fortune more than double to $25 billion as its share price surged, possibly boosted by expectations sales will benefit from Huawei\u2019s troubles.\n <\/p><\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#China’s Internet tycoons getting richer amid pandemic” Jack Ma, founder of e-commerce giant Alibaba, held onto his status as China\u2019s richest tycoon this year as surging demand for online shopping and other services during the coronavirus pandemic swelled the fortunes of Internet entrepreneurs, according to a survey released Tuesday. Ma\u2019s fortune rose 45 percent percent…<\/p>\n","protected":false},"author":1,"featured_media":93586,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2020\/10\/jack-ma-china-tycoons-e1603212029811.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[76409,76474,4973,76475,76476],"class_list":["post-93585","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-10-20-20","tag-alibaba","tag-china","tag-jack-ma","tag-wealthy"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/93585","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=93585"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/93585\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/93586"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=93585"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=93585"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=93585"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}