Liang Wengen Tops China Billionaires List
By wchung | 08 May, 2025

China’s richest man is heavy machinery maker Liang Wengen of Sany, according to this year’s Hurun list. Liang was propelled up from fourth place last year by net personal assets that have swelled to $11 billion.

Liang’s future ranking will depend heavily on the success of his contemplated IPO for Sany in the Hong Kong stock exchange this year.

Zong Qinghou, founder of soft drink maker Wahaha, fell to second place with assets of $10.7 bil. despite a 30 percent rise in sales.

Internet tycoon Robin Li Yanhong rose to third place with a net worth of $8.8 bil. on the strength of Baidu’s growing list of web-based services.

Even as many of the world’s leading tycoons suffered in the wake of the financial crisis, China’s super-rich have seen their wealth soar. This year it took personal or family wealth of at least $310 million to make the list of the 1,000 wealthiest Chinese. That’s twice the threshold of two years ago and three times that of 2008.

The number of those who can claim billionaire status in U.S. dollars rose to 271 from 189, according to the Hurun list compiled by Rupert Hoogewerf.

“China’s rich have defied the global financial crisis with another record year of growth,” said Hoogewerf.

China’s growing respect for personal property is evidenced by the fact that the wealth of Huang Guangyu, former head of electronics firm Gome, grew 70 percent to $5.2 bil. despite his incarceration for stock manipulation. The rising value of his company’s shares put him in 16th place.