CHINA’S 100 RICHEST
FORBES ASIA
SUP TDOWN WXUNCHANGED ÌNEW TO LIST 3 RETURNEE IMAGINECHINA
- Guo Guangchang
$6 BILLION T
SOURCE: CONGLOMERATE
AGE: ąĊċƫ
Čƫăƫ
RESIDENCE: SHANGHAI
The man frequently dubbed China’s Warren
Bufett hasn’t fared as well of late. His Shanghai-
headquartered investment firm, Fosun
International, is working to pare assets and improve
its debt rating after a flurry of far-flung investments
pushed it below junk. Guo’s disappearance from
public in December 2015 to assist with an unnamed
government investigation hasn’t helped its image,
either. In recent years Fosun has purchased Club
Med, a 20% stake in Cirque du Soleil and Bermuda-
based insurer Ironshare. Two Fosun cofounders,
Liang Xinjun and Wang Qunbin, are also members
of this year’s rich list; a fourth, Fan Wei, has left the
company. - Liu Yongxing
$6.7 BILLION S
SOURCE: DIVERSIFIED
AGE: 68. MARRIED, 1 CHILD
RESIDENCE: SHANGHAI
Liu formed East Hope Groupƫ%ƫ0$!ƫāĊĊĀ/ƫ
after amicably parting ways with his 3
brothers; the sibling launched agribusiness
+), 5 ƫ+,!ƫ.+1,ƫ%ƫāĊĉĂċƫ /0ƫ+,!ƫ$ /ƫ
heavy industry, agriculture and real estate
divisions. This year it announced plans for a
ĸāċĆƫ %((%+ƫ% 2 !/0)! 0 ƫĨ+ƫ! 0 %(/ƫ 5! 0 ĩƫ%ƫ **!.ƫ
Mongolia, where it already has an aluminum
facility. Liu’s brother Yonghao ranks No. 36 on
this year’s list.
- Xu Chuanhua
$6.6 BILLION Ì
SOURCE: DIVERSIFIED
AGE: 81. 2 CHILDREN
RESIDENCE: HANGZHOU
Xu started out making liquid soap and
! 0 !.#! 0 ƫ%ƫāĊĉćƫ3$!ƫ$!ƫ 3 /ƫĆĂĎƫ0+ 5 ƫ
his Transfar Group is active in logistics and
chemicals. In a controversial transaction,
listed firm Zhejiang Transfar, majority owned
by Transfar Group, said in June 2015 it would
, 5 ƫĸăċāƫ %((%+ƫ%ƫ/0+ 'ƫ"+.ƫ. /" .ƫ +#%/0% /ƫ
.+1,Čƫ3$% $ƫ$ ƫ.! 2 ! 1 !/ƫ+"ƫ&1/0ƫĸāĈĀƫ)%((%+ƫ
(and was 80% owned by Xu’s family). The deal
was approved by the Chinese watchdog in
September 2015 and completed in November
- The company’s logistics-service network
has some 2.3 million drivers in more than 200
cities. Xu is out of daily operations; his sons,
Guanju and Guanbao, are chairman and vice
chairman of Transfar Group, which had
ĸĈĉĆƫ)%((%+ƫ%ƫĂĀāĆƫ.! 2 !* 1 !/ċ
đƫ$!&% #ƫ. /" .Čƫ0$!ƫ" )%(5Ě/ƫ) %*ƫ(%/0! ƫ .)Čƫ
received regulatory approval in July to enter the
insurance business in China; it will mainly serve
logistics businesses.
đƫ ƫ1#1/0ƫ$!&% #ƫ. /" .ƫ +1#$0ƫ $!)% (ƫ
company TPC Holdings of Amsterdam for
ĸĊĀƫ)%((%+ċ
- Xu Shihui
$6.3 BILLION Ì
SOURCE: SNACKS
AGE: 58. MARRIED
RESIDENCE: HUI’AN
Xu runs snack food company Dali Foods. (See
p. 75.)
- Lu Guanqiu
$6.1 BILLION T
SOURCE: CONGLOMERATE
AGE: Ĉāċƫ
Čƫąƫ
RESIDENCE: HANGZHOU
Lu, who got his start in business by acquiring
scrap metal to make into farm tools during
China’s Cultural Revolution, leads Wanxiang
Group, one of China’s largest conglomerates,
with more than 40,000 employees. Though its
interests are broad, including real estate and
finance, its core has been auto parts. Wanxiang
owns formerly bankrupt electric-car maker
Karma in the U.S.; it’s planning to invest billions
of dollars in an electric-vehicle industrial park
in Hangzhou. His net worth fell by
ĸĊĀĀƫ)%((%+*ƫ".+)ƫ( /0ƫ 5 ! .ƫ 1 !ƫ0+ƫ ƫăĀŌƫ
drop in the share price of listed auto parts
firm Wanxiang Qianchao. - Yan Zhi
$5.9 BILLION S
SOURCE: REAL ESTATE
AGE: 43. MARRIED
RESIDENCE: WUHAN
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of the year’s biggest gainers, due to a 200% rise in the price of Hong Kong-listed Zall Group shares.
The shopping-mall-development firm is entering the e-commerce business as well as wholesale
trading, logistics and warehousing. To help, Yan named Wu Gang, the cofounder of e-commerce site
Yihaodian, as cochairman.
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