(Yicai Global) Feb. 28 -- The Hurun Research Institute released its Hurun Global Rich List 2018 today. Pony Ma, chief executive of Tencent Holdings Ltd., officially became China's richest man with CNY295 billion (USD47 billion), followed by Hui Ka Yan, while Li Ka-shing dropped to sixth slot.
Jeff Bezos, the chairman and chief executive of Amazon.com Inc., became the world's richest man with CNY775 billion.
Ma came in 15th in the world, up 23 places from last year. Hui Ka Yan, board chairman of China Evergrande Group ranked second in Greater China and 20th in the world with CNY260 billion, advancing 78 places from the previous year to make his way onto the top ten in Greater China for the first time. With assets of CNY215 billion, Lee Shau-kee, the founder of Henderson Land Development Co., ranked third in Greater China and 25th in the world, up nine places over last year.
With assets of CNY200 billion, Alibaba Group Holding Ltd.'s Chairman Jack Ma and his family came in fourth in Greater China and 26th in the world, down six places from last year. Vice Chairman of Country Garden Holding Co. Yang Huiyan ranked fourth in Greater China and 26th in the world, jumping 126 places over last year with CNY200 billion, while Li Ka-shing came in sixth in Greater China and 32nd worldwide with CNY190 billion, in the same spot as last year.
The number of billionaires has risen by 437 to 2,694. China's economic prosperity, the weakening of the US dollar and tax cuts in the US have all pushed the number of billionaires to a new record, said Rupert Hoogewerf, chairman and chief researcher of Hurun Report.
The technology sector remains the main source of wealth for billionaires in the world. Real estate has overtaken manufacturing as the second, while investment ranks fourth. The manufacturing and food and beverage sectors are growing the fastest. Real estate remains the main source of wealth for billionaires in Greater China, however.
The number of Chinese billionaires is 870, a rise of216, or 32 percent of the list, an increase of 3 percentage points over last year and higher than the proportion of Chinese people in the world (20 percent). Of these, 688 are mainlanders, 196 more than last year.