Business

Meet the 15 richest people in Asia, who are collectively worth more than $500 billion

jack ma
Even with a net worth of $58.1 billion, Alibaba’s Jack Ma is only the second-richest person in Asia.

  • The 15 richest people from Asia in the Bloomberg Billionaires Index are collectively worth more than $500 billion.
  • As of September 24, a new name has been crowned China’s richest: Per Forbes, Zhong Shanshan, founder and chairman of the water bottle company Nongfu Spring, has a net worth of about $59 billion.
  • Some of the names occupying the top ranks are self-made billionaires, like Jack Ma, who founded Alibaba Group, China’s largest e-commerce company. 
  • Others inherited wealth from their families, like Mukesh Ambani, who took over his father’s oil company, Reliance Industries.
  • Read on to learn more about the richest people in Asia.
  • Visit Business Insider’s homepage for more stories.

Emmie Martin, Melissa Stanger, and Tanza Loudenback contributed to an earlier version of this post.

15. Qin Yinglin

Qin Yinglin
Qin Yinglin, chairman of Muyuan Foodstuff seen on November 22, 2012 in Zhengzhou, Henan Province of China.

Net worth: $19.2 billion

Age: 55

Location: China

Industry: Food and beverage

Source of wealth: Self-made; Muyuan Foodstuff

Net worth year-over-year change: Up $13.6 billion in the last year.

Qin Yinglin and his wife Qian Ying founded Muyuan Foodstuff, a pig breeding and distribution company where he serves as chairman. Muyuan Foodstuff breeds and sells pigs and pork products. The couple got started in 1992, and the company made $3 billion in 2019. Qin went to Henan Agricultural University where he studied animal husbandry before embarking on the business venture, per his Forbes Billionaires profile.

 

 

14. Zhang Zhidong

Tencent
A logo of a Chinese tech firm Tencent, owner of a messaging app WeChat.

Net worth: $22.1 billion

Age: 48

Location: China

Industry: Tech

Source of wealth: Self-made; Tencent Holdings

Net worth year-over-year change: Up $7.05 billion in the last year.

Zhang Zhidong, also known as Tony Zhang, co-founded the tech company Tencent Holdings, which provides applications for instant messaging, gaming, and virtual payments. The company owns Riot Games, developer of “League of Legends,” Variety reported. Tencent made $54.6 billion in 2019. Zhang served as the company’s Chief Technology Officer until he retired in 2014, per Forbes.

 

13. Pang Kang

Foshan, Guangdong province, south China
Foshan Haitian Flavouring & Food is based in south China’s Guangdong providence.

Net worth: $23.5 billion

Age: 62

Location: China

Industry: Food and beverage

Source of wealth: Self-made; Foshan Haitian Flavouring & Food

Net worth year-over-year change: Up $13.9 billion in the last year.

Pang Kang runs the soy sauce supplier Foshan Haitian Flavouring & Food. Based in China’s Guangdong providence, the food company made $2.9 billion in 2019, five years after going public. Foshan Haitian makes more than 200 different condiments like oyster sauce, vinegar, and chicken stock.

12. Hui Ka Yan

Evergrande Group Chairman Xu Jiayin attends Evergrande New Energy Auto Global Strategic Partners Summit on November 12, 2019 in Guangzhou, Guangdong Province of China.
Evergrande Group Chairman Xu Jiayin, also known as Hui Ka Yan, attends Evergrande New Energy Auto Global Strategic Partners Summit in 2019.

Net worth: $24.8 billion

Age: 62

Location: China

Industry: Real Estate

Source of wealth: Self-made; China Evergrande Group

Net worth year-over-year change: Down $1.67 billion in the last year.

Hui Ka Yan serves as chairman of China Evergrande Group, a property developing company that builds in nearly 300 cities across China. Hui founded the company in 1996 with ten years of experience working in a steel factory, per his Forbes profile. Hui took the company public the following decade.

 

11. Takemitsu Takizaki

Keyence
In this photo illustration, the Keyence Corporation logo is seen displayed on a smartphone.

Net worth: $25.5 billion

Age: 75

Location: Japan

Industry: Tech

Source of wealth: Self-made; Keyence

Net worth year-over-year change: Up $3.02 billion in the last year.

Takemitsu Takizaki founded Keyence, an Osaka-based company that makes electric sensors for vehicles, electronics firms, and food packagers. Some of Keyence’s clients include Toyota, Toshiba, and Volkswagen. Takizaki served as the company’s chairman until 2015 when he stepped down. But he is still on Keyence’s board, according to his Forbes profile

10. Colin Huang

Colin Huang, Pinduoduo CEO
Colin Huang, CEO of Pinduoduo, pictured in 2008.

Net worth: $27 billion

Age: 40

Location: China

Industry: Tech

Source of wealth: Self-made; Pinduoduo

Net worth year-over-year change: Up $11.8 billion in the last year.

Colin Huang, also known as Huang Zheng, is the founder and chairman of one of China’s largest e-commerce companies, Pinduoduo. The platform has more than 628 million customers and made $4.2 billion in 2019, per Huang’s Bloomberg Billionaires profile.

Before running Pinduoduo, Huang interned at Microsoft and worked at Google, according to his Forbes profile. Additionally, Huang founded two other internet-based companies — Xinyoudi, a gaming business, and Ouku.com, another e-commerce platform.

 

9. Yang Huiyan

Country Garden Holdings Forest City project sales center in Hong Kong.
Country Garden Holdings Forest City project sales center in Hong Kong.

Net worth: $27.3 billion

Age: 38

Location: China

Industry: Real Estate

Source of wealth: Inherited

Net worth year-over-year change: Up $1.71 billion in the last year.

Yang Huiyan, the richest woman in Asia and only female on this list, inherited more than half of the stakes of her father’s real estate developing company, Country Garden Holdings, in 2005, per her Bloomberg billionaires profile.

Yang is currently running the company, which constructs buildings and manages hotels in China. At the same time, Yang serves as chairman of an education company, Bright Scholar Education Holdings.

 

 

8. He Xiangjian

He Xiangjian
Midea Group Founder He Xiangjian attends a signing ceremony of a real estate project on May 28, 2013 in Zhenjiang, Jiangsu Province of China.

Net worth: $27.9 billion

Age: 78

Location: China

Industry: Consumer

Source of wealth: Self-made; Midea Group

Net worth year-over-year change: Up $3.99 billion in the last year.

He Xiangjian founded Midea Group, a company that exports air conditioners and produces other appliances like heaters and washing machines. He started the business in 1968 producing plastic lids and built it into one of the largest appliance companies in the world, per his Forbes profile. He stepped down from Midea’s operations in 2012, and his son He Jianfeng serves as one of Midea’s directors.

 

7. William Ding

William Ding
Netease.com’s CEO William Ding Lei speaks during the 2019 NetEase Future Conference at Hangzhou International Expo Center.

Net worth: $28.3 billion

Age: 49

Location: China

Industry: Tech

Source of wealth: Self-made; NetEase

Net worth year-over-year change: Up $11.6 billion in the last year.

William Ding runs the Beijing-based internet provider NetEase credited with localizing popular games like “Overwatch” and “Westward Journey,” according to his Bloomberg Billionaires profile. The company works with Blizzard Entertainment and Microsoft subsidiary Mojang. Aside from gaming, NetEase works with other online media entertainment like movies and music.

6. Tadashi Yanai

Tadashi Yanai
Tadashi Yanai

Net worth: $31.6 billion

Age: 71

Location: Japan

Industry: Retail

Source of wealth: Self-made; Fast Retailing

Net worth year-over-year change: Down $631 million in the last year.

Tadashi Yanai, the richest person in Japan, runs Uniqlo’s parent company, Fast Retailing. Yanai is also the founder and biggest shareholder of the clothing retailer, which happens to be Asia’s largest, according to Yanai’s Bloomberg Billionaires profile. Fast Retailing operates owns about 1,000 stores. 

Yanai has a couple of golf courses in Maui, Hawaii.

5. Li Ka-Shing

Li Ka-Shing
Li Ka-Shing

Net worth: $32.3 billion

Age: 92

Location: Hong Kong

Industry: Real Estate

Source of wealth: Self-made; CK Hutchison Holdings

Net worth year-over-year change: Down $757 million in the last year.

Li Ka-Shing, the wealthiest person in Hong Kong, founded CK Hutchison Holdings, a vast business empire with interests in primarily retail services. In addition, Li founded another investment holding company, CK Asset Holdings, geared towards real estate services.

Li ran both companies until May 2018, when his son, Victor, took over as chairman, per his Bloomberg Billionaires profile.

CK Hutchinson made $38 billion in 2019. 

4. Pony Ma

Pony Ma
Pony Ma Huateng speaks during a main forum of the 2nd Digital China Summit at Fuzhou Strait International Conference & Exhibition Center in 2019.

Net worth: $51.7 billion

Age: 48

Location: China

Industry: Tech

Source of wealth: Self-made; Tencent Holdings

Net worth year-over-year change: Up $15.6 billion in the last year.

Pony Ma, also known as Ma Huateng, serves as chairman and CEO of Tencent Holdings, the tech company he co-founded alongside Zhang Zhidong, number 12 on this list. Tencent is best known for its instant messaging app WeChat, which has more than a billion users.

3. Jack Ma

jack ma
Jack Ma, Executive Chairman of Alibaba Group, speaks at the WSJD Live conference in Laguna Beach, California October 27, 2014.

Net worth: $56.7 billion

Age: 55

Location: China

Industry: Tech

Source of wealth: Self-made; Alibaba Group

Net worth year-over-year change: Up $12.1 billion in the last year.

Jack Ma, the richest person in China, co-founded Alibaba Group, the country’s largest e-commerce company. Alibaba runs Taobao, an online shopping site, along with Tmall, an online store facilitator. Ma served as the company’s executive chairman until he stepped down in 2019.

Ma also owns stakes in two Chinese entertainment industry firms and an online payment service.

A former English teacher, Ma has recently been in the news because of his widespread donations to prevent the spread of the coronavirus, per BBC.

2. Zhong Shanshan

Zhong Shanshan Nongfu Spring Company
Zhong Shanshan, the chairman of Nongfu Spring Company, attends the Nongfu Spring new product launch conference on February 1, 2015, in Baishan, Jilin Province of China.

Net worth: $58.7 billion

Age: 65

Location: China

Industry: Food & beverage 

Source of wealth: Self-made; Nongfu Spring Company

Net worth year-over-year change: Up $51.9 billion in the last year.

Zhong Shanshan is the founder and chairman Nongfu Spring, a bottled water company that went public in Hong Kong on September 8. As of September 24, the company’s stocks are up 77%, making Shanshan, who owns about 84% of Nongfu Spring, the richest person in China and 17th-richest in the world. On top of that, Shanshan has a controlling stake in Wantai Biological Pharmacy, a firm that said it’s working on a coronavirus cure, per CNBC.

1. Mukesh Ambani

Mukesh Ambani
Mukesh Ambani.

Net worth: $85.2 billion

Age: 63

Location: India

Industry: Energy

Source of wealth: Inherited

Net worth year-over-year change: Up $22.9 billion in the last year.

Mukesh Ambani, the richest person in India and eighth-richest on the planet, took over as chairman of Reliance Industries when his father, the company’s founder, died in 2002. Reliance Industries is an oil and gas company that Ambani owns 42% of, per his Bloomberg Billionaires profile.

Ambani also founded Jio, a 4G phone service. He owns the Mumbai Indians, a professional cricket team, and a property worth more than $400 million.

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