Tech replaces manufacturing and real estate at rich list - Rupert Hoogewerf

Rupert Hoogewerf

China's Hurun rich list is signaling yet another economic shift, says Hurun chairman Rupert Hoogewerf at CNN. This time the rich from tech firms are replacing those from manufacturing and real estate, according to the latest annual rich list.

CNN:

China's wealth is becoming increasingly concentrated in the hands of tech entrepreneurs, although some pharmaceutical moguls and pig farmers are breaking into the ranks of the super rich. 

There were fewer millionaires and billionaires on the Hurun Report's rich list for a second year in a row, but their average wealth increased as China's shift towards the digital economy saw manufacturing and construction tycoons drop off the bottom. There has been a "changing of the guard" among China's wealthiest people over the years, said Rupert Hoogewerf, Hurun Report's chairman, commenting on the list that was published Thursday. 

"Tech entrepreneurs are replacing those from the traditional powerhouses of manufacturing and real estate," Hoogewerf said. "Wealth is concentrating into the hands of those who are able to adapt to the digital economy," he added. 

Alibaba (BABA) founder Jack Ma held onto his title of China's richest man with a net worth of $39 billion, with Pony Ma of Tencent (TCEHY) rising one spot to take second place with $37 billion.

More on CNN.

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Adventure sports hit among the wealthy - Rupert Hoogewerf

Rupert Hoogewerf

China´s rich are increasingly looking for challenges, also when it comes to their holidays, says the Hurun Report Chinese Luxury Consumer Survey 2016. The wealthy entrepreneurs are keen to test their limits, says Hurun founder Rupert Hoogewerf in the China Daily, preferring adventure sports over riding and sailing.

The China Daily:

According to the Hurun Report Chinese Luxury Consumer Survey 2016, about 43 percent of the 458 surveyed with average personal wealth in excess of 43.7 million yuan ($6.63 million), chose adventure sports as their top passion, ahead of riding and sailing in 2015... 

The average age of the respondents tracked by Hurun for the survey was 37 for millionaires and 38 for billionaires. 

Yet another surprising finding from the study is that jogging is still a popular sport with the Chinese superrich, with about 16 percent of the male and female millionaires keen on the sport. 

The report also included the Hurun Business Confidence Index, which indicated that about 80 percent of the respondents are positive on the Chinese economy in the next two years, although only 27 percent are "extremely confident". 

The top three sectors chosen by the rich entrepreneurs for investment were the stock market, real estate and fixed income. 

"Majority of Chinese businessmen are quite confident about the steady growth of China's economy, which will bring them more opportunities in the coming years," said Rupert Hoogewerf, the founder and chief researcher of Hurun Report.

More in the China Daily.

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Tencent: China´s most valuable brand in 2014 - Rupert Hoogewerf

Rupert Hoogewerf

Tencent has become China´s most valuable brand in 2014, according to the latest Hurun report. A sign private companies are taking over the previously powerful position of state-owned companies tells Hurun founder Rupert Hoogewerf in the China Daily.

The China Daily:

It is the first time that Tencent has taken the first place on the list, overtaking the State-owned giants China Mobile Communications Corporation and Industrial and Commercial Bank of China Limited, as well as the search engine giant Baidu Inc.

Rupert Hoogewerf, chairman and chief researcher of the Hurun Report, said privately-owned Chinese brands have demonstrated more creativity than the State-owned ones. The rapid growth of Tencent can be very much attributed to the success of real-time communication application WeChat, he added.

In the Hurun Rich List 2013, Ma Huateng, co-founder and chairman of Tencent who owns a 10.25 percent stake of the company, came at third place for the first time with a personal wealth of about $10.1 billion.

ICBC remains the second most valuable Chinese brand this year although its brand value has shrunk 16 percent to reach 206 billion yuan, as it has been actively exploring the overseas market and has been somehow challenged by Internet finance.

Last year's leading player CMCC dropped to third place this year as its brand value fell by 19 percent to 203 billion yuan. It is a combined result of the company's setting up of its 4G network and the impact of WeChat of Tencent, said Hurun Report.

The most valuable privately-owned brand last year, Baidu, was dislodged by Tencent to the second place this year with a brand value of 190 billion yuan, up 79 percent. Among all surveyed privately-owned companies, China's largest online marketplace Taobao.com was next to Baidu and Tencent as its brand value surged 320 percent year-on-year to reach 185 billion yuan.

More in the China Daily.

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Are you interested in more speakers on luxury goods from the China Speakers Bureau? Here is a recent list of our experts. 

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Pollution main driver for emigrating Chinese rich - Rupert Hoogewerf

Rupert Hoogewerf or Hurun

China´s rich are leaving the motherland in a higher speed than ever, and pollution is one of the major driver behind this spike in emigration, notes China´s rich list founder Rupert Hoogewerf, in China better known as Hurun, in Time.

Time:

A recent survey provides the strongest evidence yet that China’s polluted cities risk driving away the rich. Released in January by the Hurun Research Institute, the survey shows 64% of China’s rich (those with wealth above $1.6 million) were either immigrating to another country or planning to, a rise from 60% in the last poll two years ago. That came as a surprise to Rupert Hoogewerf, founder of the Hurun Report, an annual China rich list. He wasn’t expecting the already high figure to grow. He says pollution and food safety was the second-biggest reason for emigrating, after the general desire for security and financial well-being. Although the numbers of those emigrating haven’t yet reached a critical mass, Hoogewerf says “a lot of families are finding a lot of other rich families are going overseas,” providing examples to follow. 

What’s happening is that those who can avoid the smog, especially families with children, are escaping what a recent Chinese study reportedly called “unlivable” cities like Beijing. They’re seeking permanent residency in America and Canada, and European countries Cyprus, Portugal, and the U.K.

More in Time.

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31 Billionaires gather for NPC - Rupert Hoogewerf

Rupert Hoogewerf

Wednesday the annual National People Congress (NPC) gathers in Beijing, and among them 31 billionaires, according to the Hurun Rich List founded by Rupert Hoogewerf in the Hong Kong Standard. The NPC counts close to 3,000 delegates. 

The Hong Kong Standard

The richest person in mainland China, property magnate Wang, shot up to 26th spot on the global list. His net worth doubled over the past year to US$25 billion. He ranked 72nd last year, according to the report. Hurun Report chairman Rupert Hoogewerf said 90 Chinese billionaires held “senior political advisory positions,’’ including 31 delegates to the National People's Congress, and three representatives to the last Communist Party Congress. 

But inclusion on a Hurun rich list can be a mixed blessing for wealthy Chinese, intensifying public and government scrutiny of them and their companies. 

Some have subsequently been investigated or imprisoned, among them Huang Guangyu, named China's highest net worth individual three times, most recently in 2008... 

Dalian Wanda Group Chairman Wang Jianlin ranked the wealthiest in China after he doubled his assets to US$25 billion last year. He took the top spot among 358 other US dollar billionaires in the country, a survey found. 

Wang’s became wealthier as Asia experienced a billionaire boom last year. During the period, more than 200 people from the continent accumulated wealth that passed into 10 figures, the Hurun Report said in its global rich list, AFP reports. A total of 824 Asians were included among the 1,867 named as US dollar billionaires on the list.

More in the Hong Kong Standard.

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China second on global rich list - Rupert Hoogewerf

Rupert Hoogewerf

China is second in the number of billionaires, only after the United States, according to the Hurun Global Rich List, published on Tuesday. Especially Chinese entrepreneurs are shooting up fast, tells Hurun founder Rupert Hoogewerf in the China Daily.

The China Daily:

China has 358 billionaires, second only to that of the United States, according to the Global Rich List 2014 issued by Hurun Report on Tuesday. 

The number of Chinese people who have a fortune of more than $1 billion increased by 41 in this year's list, according to the report. 

Li Ka-shing, the Hong Kong business magnate, topped the Asia and China wealth list with a fortune of 200 billion yuan ($33.3 billion). Wang Jianlin, chairman of the Dalian Wanda Group and Lui Che Wo, chairman of K. Wah Group and owner of Galaxy Entertainment, took the second and third spots. 

"Chinese entrepreneurs are shooting up the Hurun Global Rich List," said Rupert Hoogewerf, chairman and chief researcher of the Hurun Report. 

Bill Gates topped the global rich list with a fortune of 410 billion yuan.

More in the China Daily.

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Education, first step in emigration process of the rich - Rupert Hoogewerf

Rupert Hoogewerf

When China´s rich set up shop abroad, they often follow a pattern, explains Hurun founder Rupert Hoogewerf in the China Daily. The first step in that process is sending their children to a specific country, to explore the situation. That is why education is a key tool for the emigration process. 

The China Daily:

The Chinese super rich are banking on foreign education for their teenage children as an investment. 

Going overseas for a university degree has always been an option for the children of the wealthy, but now parents are sending their children overseas for secondary education also. 

The United Kingdom is their first choice with the United States second, according to the Chinese Luxury Consumer Survey 2014, published by the Hurun Report, which polled 400 parents who each had at least 10 million yuan ($1.6 million) in disposable income. 

For undergraduate study, the rankings are reversed with the US topping the list, the UK second and Australia third. 

In terms of secondary education, Canada is the third most favored destination. 

"We have been keeping a keen eye on overseas education as it indicates a trend in emigration," said Rupert Hoogewerf, chairman and chief researcher of the Hurun Report.

More in the China Daily.

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Who are China's superrich? - Rupert Hoogewerf

Rupert Hoogewerf

Much of the consumption power is in the hands of China's 2.7 million millionaires (in US dollars). China rich list founder Rupert Hoogewerf or Hurun gives in Adage the profile of the super rich.

Adage:

But who are these consumers? About 2.7 million people in China have at least a million dollars, says Rupert Hoogewerf, who founded the Hurun Report luxury publishing house that issues a hotly awaited annual China Rich List. 

Then there's the "superrich," defined by Mr. Hoogewerf as the 63,500 people with $15.8 million or more. On average, they are 43-year-old men with a 41-year-old wife and a 14-year-old child. They haven't been wealthy long. "It was after 2007 that people suddenly had the real money," Mr. Hoogewerf said. The superrich are going back to business school, collecting watches and art and playing golf. (The women do yoga.) 

Some 90% of the superrich hope to send their children abroad to study, and Mr. Hoogewerf advises marketers to "get to the children," who influence Chinese opinion when they bring brands home.

More in Adage. Rupert Hoogewerf is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers' request form.

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China's billionaires turn 40 - Rupert Hoogewerf

Rupert Hoogewerf

China's extreme rich are very young compared to the billionaires elsewhere in the world, but they are getting older. The Hurun rich list of those under 40 years old, composed by Rupert Hoogewerf, lost 23 over last year, because they turned 40, he tells in China.org.cn.

China.org.cn

Thirty-three young Chinese entrepreneurs were selected for the Hurun 2012 list of Richest Chinese under Forty. The number of nominees decreased by 23 over last year's rankings due to many young entrepreneurs turning 40. Only individuals who have more than 1 billion yuan in assets and less than forty years old can be chosen. 

This is the second year that Hurun has published the list. Yang Huiyan, 31, vice-chairman of Country Garden Holdings Co Ltd, won first place with a wealth of 36 billion yuan ($5.7 billion). 

Fang Wei, 39, second only to Yang Huiyan, was found to be the richest young entrepreneur starting from scratch with assets of 15 billion yuan (US$2.357 billion). 

"The richest Chinese under 40 are mostly successful in business of entertainment and information technology industries. Most people think that rich Chinese with more than 1 billion yuan got their wealth through inheritance. However, they are wrong. Most of them are self-made billionaires," said Rupert Hoogewerf, chairman and chief researcher of the Hurun Report.

More in China.org.cn, including the full list of China's rich under 40 years old.

Rupert Hoogewerf is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers' request form.