CHINA’S 100 RICHEST
FORBES ASIA
- Chen Fashu
$2.65 BILLION T
SOURCE: DIVERSIFIED
AGE: 55. MARRIED, 4 CHILDREN
RESIDENCE: FUZHOU
Chen started in wood trading and prospered in
minerals with a stake in the Zijin Mining Group,
China’s largest gold miner, and in retailing with New
Huadu Supercenters, a regional shopping chain.
Chen’s New Huado Group sold part of its stake in
Zijin Mining in June. - Li Gaiteng
$2.65 BILLION Ì
SOURCE: MANUFACTURING
AGE: 44. MARRIED
RESIDENCE: SHANGHAI
A former motorcycle repairman, Li became a
billionaire in April after the IPO of Shanghai Flyco
Electrical Appliance, which he founded and
chairs. He owns 88% of the company, which makes
appliances such as electric shavers and hair dryers.
Revenue in 2015 was $431 million. Li worked as a
warehouse manager, a welder and a motorcycle
repairman from 1993 to 1995, before moving on
to his own business selling shaver parts. He set up
Flyco Electrical in Wenzhou in 1999. - Zhang Jing
$2.65 BILLION Ì
SOURCE: DIVERSIFIED
AGE: 45.
RESIDENCE: GUANGZHOU
A former government worker, Zhang first prospered
from stock investments. In the 1990s he began to
accumulate residential real estate, the core of his
fortune today. Zhang’s Guangdong-headquartered
Cedar Holdings also has finance and auto sales
businesses. - Zhu Gongshan
$2.65 BILLION 3
SOURCE: SOLAR PANEL MATERIALS, POWER
AGE: 58. MARRIED, 2 CHILDREN
RESIDENCE: XUZHOU
Zhu runs GCL-Poly Energy Holdings, a survivor
of China’s solar boom and producer of polysilicon
used to make solar panels. His net worth is up
despite a 30% drop in GCL’s stock price in the last
year because he acquired more GCL-Poly shares
in exchange for private assets that he sold to the
company. GCL-Poly’s solar power generation
subsidiary GCL New Energy has solar farms in 19
provinces nationwide. - Lin Xiucheng
$2.9 BILLION WX
SOURCE: ELECTRONICS
AGE: 61. MARRIED, 4 CHILDREN
RESIDENCE: XIAMEN
Lin leads Sanan Optoelectronics, which makes
light-emitting diodes. Oversupply has been hurting
prices, but Lin’s fortune has held steady. Sanan’s bid
to acquire Taiwan-listed chip firm GCS Holdings of
the U.S. for $226 million in March was rejected by
American regulators on national security grounds;
the 2 firms have since set up a JV to provide tech
for consumer electronics and mobile devices.
- Cao Longxiang
$2.85 BILLION S
AGE: 59. MARRIED
RESIDENCE: TAXING
Cao chairs Hubei Jumpcan Pharmaceutical. The
company received U.S. regulatory approval this
year for clinical trials for Jadiance, a drug to control
blood sugar. It also received Chinese government
approval for clinical trials on drugs to treat epilepsy
and insomnia. Cao served in China’s military before
taking a job with the predecessor to Jumpcan.
- Ma Xiuhui
$2.85 BILLION S
SOURCE: LIGHTING
AGE: 45. MARRIED
RESIDENCE: SHANGHAI
Ma Xiuhui and her husband, Wang Yaohui, started
out making lightbulbs in the 1990s. Now the
couple’s Opple Lighting is known for its LED lights,
has customers in 50 countries and competes with
firms like GE, Siemens and Philips. Sales last year
topped $650 million. The couple’s fortune has
risen nearly 60% in the wake of an August IPO on
the Shanghai exchange. Ma is general manager of
Opple and Wang is chairman.
- Chen Jianhua
$2.8 BILLION S
SOURCE: MANUFACTURING
AGE: 44. MARRIED
RESIDENCE: WUJIANG
Chen leads the Hengli Group, a petrochemical
business with revenues of $31.6 billion in 2015. In May
publicly traded Dalian Rubber & Plastics Machinery
acquired the group’s Jiangsu Hengli Chemical Fibre
firm for a reported $2.4 billion in stock. Chen and
his wife, Fan Hongwei, own at least 75% of the listed
company, now called Hengli Petrochemical.
IMAGINECHINA
- Huang Shih Tsai
$2.8 BILLION WX
SOURCE: REAL ESTATE
AGE: 64. MARRIED, 2 CHILDREN
RESIDENCE: SHENZHEN
The heart of Huang’s business empire is in
booming Shenzhen, where real estate prices
have remained strong. His privately held Greater
China International Group owns the International
Financial Center, a Hilton Hotel and GC Square, a
commercial real estate site in Shenzhen. - Yu Yong
$2.8 BILLION T
SOURCE: MINING
AGE: 55. MARRIED
RESIDENCE: SHANGHAI
It’s been an active year for Hong Kong-listed
mining firm China Molybdenum, which Yu
controls. In September China Moly paid $1.5 billion
for Anglo American Plc.’s niobium and phosphates
business. In May the company said it would buy
Freeport-McMoRan’s 56% stake in a copper and
cobalt mine in the Democratic Republic of the
Congo for $2.65 billion. - Du Jiangtao
$2.7 BILLION S
SOURCE: CHEMICALS
AGE: 46. MARRIED
RESIDENCE: BEIJING
Du made his early money in the chemical and
resources business at Inner Mongolia Energy
& Chemical Industry, which has coal mining,
electricity generation, cement manufacturing and
financial services units. Revenue grew a mere 1% at
the company last year, to $721 million. - Qi Shi
$2.7 BILLION T
SOURCE: FINANCIAL INFORMATION
AGE: 46. MARRIED
RESIDENCE: SHANGHAI
Former financial futures researcher Qi founded
a financial website in 2005. Now his East Money
Information, traded on the Shenzhen Stock
Exchange, operates a popular financial and stock
information website. In July more than 30 million
people a day used East Money’s website, which has
both free and subscription-based products. Easy
Money Information acquired 100% of Tibet Tongxin
Securities in December 2015 and changed its name
to Eastmoney Securities.
TODAY ASIA IS OUR SECOND HOME MARKET
WITH A PRESENCE IN SINGAPORE, HONG KONG,
TOKYO AND SHANGHAI.