Showing posts with label billionaires. Show all posts
Showing posts with label billionaires. Show all posts

Tuesday, October 29, 2024

Hurun China rich list loses 30% of its billionaires – Rupert Hoogewerf

 

Rupert Hoogewerf

The Hurun China rich list published its 2024 results and its chairman Rupert Hoogewerf saw 30 percent of the country’s billionaires disappear, he says on CNBC. “The Hurun China Rich List has shrunk for an unprecedented third year running, as China’s economy and stock markets had a difficult year,” said Rupert Hoogewerf.

CNBC:

China has 1,094 individuals with wealth exceeding 5 billion yuan ($700 million), down by 12% or 147 individuals from the previous year, according to Hurun Research. The combined wealth of these entrepreneurs amounted to $3 trillion, 10% lower than last year.

The country’s billionaire count dropped by 142 to 753 from a year earlier — and down more than 30% from the 2021 high of 1,185.

“The Hurun China Rich List has shrunk for an unprecedented third year running, as China’s economy and stock markets had a difficult year,” said Rupert Hoogewerf, Hurun report chairman and chief researcher.

The current rich list predominantly comprises entrepreneurs from the technology, consumer electronics and new energy space, from what used to be dominated by real estate developers, Hoogewerf noted.

“The stories of the individuals on the Hurun China Rich List tell the story of the Chinese economy,” he said.

The new generation of Chinese entrepreneurs are also more international than their predecessors, Hoogewerf observed, citing how ByteDance’s Zhang went global with TikTok and Pinduoduo’s Huang crafted Temu’s ascent as a global e-commerce hub.

 

More at CNBC.

Rupert Hoogewerf Is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Get in touch or fill out our speakers’ request form.

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Monday, May 02, 2022

Why Guangzhou has most women billionaires – Rupert Hoogewerf

 

Rupert Hoogewerf

Compared to the rest of the world, China has the most female billionaires, while Guangzhou tops the list. Rupert Hoogewerf, the Hurun Rich list chief researcher, explains why China and especially Guangzhou is doing better than other countries in Money Control. 

Money Control:

Guangdong in South China is the cradle of the world when it comes to self-made women billionaires, the report added.

Interestingly, New York, the city with the most billionaires outside of China, has only a single self-made woman billionaire.

Rupert Hoogewerf, chairman and chief researcher of Hurun Report explains why the numbers are so high in China as compared to other countries.

“The self-made women billionaires in the world tell the story of the most successful women in business and these stories start with China. Why does China have two thirds of the world’s self-made women billionaires, more than double the rest of the world combined? There are historical, political, social and economic dynamics at play here,” he explained.

Japan, Germany, France, Canada and South Korea are the world’s largest economies without a single self-made woman billionaire. The 124 known self-made women billionaires come from just 16 countries, meaning that 180 countries still do not have a single one.

The Hurun Research Institute released the richest self-made women in the world on Wednesday. Topping that list from China is Beijing-based property developer Wu Yajun. The 58-year-old has an estimated worth of $17 billion. Yajun and her ex-husband Cai Kui cofounded Longfor in 1993 cofounder.

More in Money Control.

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Friday, April 01, 2022

Why self-made women billionaires galore in China – Rupert Hoogewerf

 

Rupert Hoogewerf

The number of self-made women billionaires has increased, especially in China, says Rupert Hoogewerf, chief researcher of the Hurun Report, who released earlier in March the 2022 Rich List, according to Money Control. “There are historical, political, social, and economic dynamics at play here,” he says.

Money Control:

Meanwhile, commenting on the report, Rupert Hoogewerf, chairman and chief researcher of Hurun Report, said, “There are 124 self-made women billionaires in the world today, double that of five years ago and 100 more than ten years ago.”

Speaking about the the most successful women entrepreneurs in China, he added, “The self-made women billionaires in the world tell the story of the most successful women in business and these stories start with China. Why does China have two thirds of the world’s self-made women billionaires, more than double the rest of the world combined?”

“There are historical, political, social and economic dynamics at play here. One indicator can be seen from the Hurun China Private Companies SDG Readiness Index 2021, where Chinese businesses performed strongly in United Nations Sustainable Development Goal 5 Gender Equality.”

More in Money Control.

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

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Friday, March 18, 2022

China keeps top position at 2022 Hurun rich list – Rupert Hoogewerf

 

Rupert Hoogewerf

China added last year 75 billionaires in US dollar terms, the 2022 Hurun rich list noted this week, according to the Global Times. “China now has more than 1,100 billion-dollar entrepreneurs, 60 percent more than the US, which also exceeds the combined number of the US, India and the UK,” Rupert Hoogewerf of the Hurun Research Institute said.

 

Global Times:

China kept its top ranking on the Hurun Global Rich List 2022 with 1,133 billion-dollar entrepreneurs, an increase of 75 from last year, followed by the US and India, according to the list released by the Hurun Research Institute on Thursday.

The list underlined robust growth in various industries in China, including technology, consumer market and advanced manufacturing, despite a complex global environment and growing downward pressure on the domestic economy, experts said.  …

Rupert Hoogewerf, the founder and chief researcher of the institute, whose Chinese name is Hu Run, said that since 2016, when China first surpassed the US, the number of billionaire entrepreneurs in the US has increased more than 30 percent, while that of China doubled.

Hu noted that China now has more than 1,100 billion-dollar entrepreneurs, 60 percent more than the US, which also exceeds the combined number of the US, India and the UK.

Zhong Shanshan is still China’s richest man, although his wealth has dropped by nearly 100 billion yuan. The ranking of ByteDance founder Zhang Yiming rose to second place in China from fifth last year, with his wealth remained unchanged at 340 billion yuan.

The wealth of CATL founder Zeng Yuqun reached 335 billion yuan, growing more than 100 billion yuan, making him the third-richest entrepreneur of the country.

Pony Ma Huateng, founder and CEO of Tencent, who ranked second last year, saw his wealth drop to 330 billion yuan, coming in fourth this year in China, while Alibaba founder Jack Ma Yun ranked fifth with his wealth standing at 235 billion yuan. This year’s list marks the first time that the two high-profile commercial entrepreneurs have fallen out of the top three in China since 2015.

More at the Global Times.

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

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Thursday, May 20, 2021

China women lead in global entrepreneurship – Rupert Hoogewerf

 

Rupert Hoogewerf

Two-thirds of the world’s richest women come from China, says the latest Hurun Rich List report. “If we want to understand the global women entrepreneurship, we have to start from China. China has been home to more than two-thirds of the world’s most successful women entrepreneurs in the past decade,” said Rupert Hoogewerf, chairman and chief research officer of Hurun Global Rich List in the state-owned Global Times.

The Global Times:

China is home to two thirds of the most successful women entrepreneurs in the world, three times the number of the US, a Hurun report showed.
The Hurun Research Institute released the Hurun Richest Self-Made Women in the World 2021 on Wednesday, a list of self-made women billionaires across the world. This is the 11th year the list has been published.
The list showed that the number of self-made women entrepreneurs with 1 billion dollar asset threshold grew by 30 percent in 2020, to reach a record of 130 people.
Chinese women take the lead on the list, as 85 of them are from China, 24 more from last survey. The US ranked second with 25 people and the UK ranked third with 6.
Also, China takes nine of the top 10 this year and accounts for nearly 80 percent of the new faces on the list this year.
“If we want to understand the global women entrepreneurship, we have to start from China. China has been home to more than two-thirds of the world’s most successful women entrepreneurs in the past decade,” said Rupert Hoogewerf, chairman and chief research officer of Hurun Global Rich List.
Zhong Huijuan, 60, of Hansen Pharmaceutical, in East China’s Jiangsu Province, has become the world’s most successful female entrepreneur for the second year in a row with a wealth of 150 billion yuan ($23.34 billion).
Narrowing it down, Beijing city is the hub for “the most successful women entrepreneurs in the world”, with 16 rich women, followed by Shanghai, Hangzhou and Shenzhen.

More at the Global Times.

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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Tuesday, April 06, 2021

China dominates top women billionaires – Rupert Hoogewerf

 

Rupert Hoogewerf

Most female billionaires call China their home country, says Rupert Hoogewerf, chief researcher of the Hurun Research Institute, according to the Korea Times. China’s 85 female billionaires amount to two-thirds of the 130 women billionaires in the world.

Korea Times:

China is home to the most self-made women entrepreneurs in the world, according to a new report.

The country minted 24 new female billionaires to start 2021, bringing the total number to 85, said Hurun Research Institute.

China’s 85 female billionaires amount to two-thirds of the 130 women billionaires in the world.

While the number of women billionaires grew 30 per cent from last year, the 3,098 male billionaires dwarf the 130 self-made women billionaires.

Rupert Hoogewerf, the chairman and chief researcher at Hurun, told the?South China Morning Post?that the rest of the world needs to “wake up” to the dominance of Chinese women entrepreneurs. Chinese women make up 70 per cent of the world’s most successful women entrepreneurs.

People need to study China and see “what’s hampering women elsewhere to build businesses of that size,” he added.

Hurun Research Institute found nine out of the top ten self-made women billionaires are from China and eight out of ten new faces are from China.

More at the Korea Times, including the top-3 richest women in China.

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

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Wednesday, March 03, 2021

How China overtook the US in billionaires – Rupert Hoogewerf

 

Rupert Hoogewerf

China counts more than 1,000 billionaires in US dollar terms, overtaking solidly the US, according to the Hurun Rich List ranking. “We’re currently in the heart of a new industrial revolution, with new technologies including artificial intelligence, blockchain, cloud, data and e-commerce creating new opportunities for entrepreneurs and leading to a concentration of wealth and economic power on a scale never seen before,” said Hurun Report Chairman and chief researcher Rupert Hoogewerf, according to Shine.

Shine:

China has the world’s most billionaires — more than the United States, India and Germany combined — due to a flurry of new initial public offerings and the booming digital economy over the past year despite the pandemic, according to the latest Hurun rankings.

The combined wealth of billionaires in China is US$4.5 trillion, up 73 percent from last year.

China currently has 1,058 billionaires, up 259 from a year ago and far surpassing America’s 696 billionaires.

According to the Hurun rankings, the number of billionaires in China began to overtake the US in 2016.

“We’re currently in the heart of a new industrial revolution, with new technologies including artificial intelligence, blockchain, cloud, data and e-commerce creating new opportunities for entrepreneurs and leading to a concentration of wealth and economic power on a scale never seen before,” said Hurun Report Chairman and Chief researcher Rupert Hoogewerf. “Despite the disruption caused by COVID-19, this year has seen the biggest wealth increase in the last decade.”

China is the first country in the world to have more than 1,000 billionaires.

More in Shine.

Rupert Hoogewerf is a speaker at the China Speakers Bureau. Do you need him at your (online) meeting or conference, do get in touch or fill in our speakers’ request form.

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Tuesday, October 20, 2020

2020 triggered off unprecedented creation of wealth – Rupert Hoogewerf

 

Rupert Hoogewerf

The world never saw so much reaction of wealth as during 2020, says Rupert Hoogewerf, chief researcher of the Hurun China Rich List, despite the coronavirus crisis triggered off by COVID-19. Even seasoned rich-researcher Hoogewerf is amazed by the number of billionaires China created over the past months, he tells Devdiscourse, citing the newly released Hurun China Rich List 2020.

Devdiscourse:

Ant is expected to create more mega-rich through what is likely to be the world’s biggest IPO, as it plans to raise an estimated $35 billion through a dual listing in Shanghai and Hong Kong. The combined wealth of those on the Hurun China list – with an individual wealth cut-off of 2 billion yuan ($299.14 million) – totaled $4 trillion, more than the annual gross domestic product (GDP) of Germany, according to Rupert Hoogewerf, the Hurun Report’s chairman.

China is minting new billionaires at a record pace despite an economy bruised by the coronavirus pandemic, thanks to booming share prices and a spate of new stock listings, according to a list released on Tuesday. The Hurun China Rich List 2020 also highlights China’s accelerated shift away from traditional sectors like manufacturing and real estate, towards e-commerce, fintech and other new economy industries.

Jack Ma, founder of Alibaba, retained the top spot for the third year in a row, with his personal wealth jumping 45% to $58.8 billion partly due to the impending mega-listing of fintech giant Ant Group . Ant is expected to create more mega-rich through what is likely to be the world’s biggest IPO, as it plans to raise an estimated $35 billion through a dual listing in Shanghai and Hong Kong.

The combined wealth of those on the Hurun China list – with an individual wealth cut-off of 2 billion yuan ($299.14 million) – totaled $4 trillion, more than the annual gross domestic product (GDP) of Germany, according to Rupert Hoogewerf, the Hurun Report’s chairman. More wealth was created this year than in the previous five years combined, with China’s rich-listers adding $1.5 trillion, roughly half the size of Britain’s GDP.

Booming stock markets and a flurry of new listings have created five new dollar billionaires in China a week for the past year, Hoogewerf said in a statement. “The world has never seen this much wealth created in just one year. China’s entrepreneurs have done much better than expected. Despite Covid-19 they have risen to record levels.”

According to a separate estimate by PwC and UBS, only billionaires in the United States possessed greater combined wealth than those in mainland China. China has accelerated capital market reforms to aid a virus-hit economy, accelerate economic restructuring and fund a “tech war” with the United States.

More at Devdiscourse.

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

Are you looking for more stories by Rupert Hoogewerf? Do check out this list.

Tuesday, April 07, 2020

In a killing stock market, China has been a relative winner - Rupert Hoogewerf

Rupert Hoogewerf
The massive drop of stock markets has wiped away unprecedented amounts of capital, says Hurun China Rich List founder Rupert Hoogewerf at the South China Morning Post. But in that bloodbath, China has been a relatief winner, he adds.

The South China Morning Post:

While most billionaires have seen their fortunes shrink drastically amid a stock market rout brought on by the Covid-19 pandemic and containment measures launched by governments, a handful have seen their wealth rise – significantly.
According to research by Hurun Report calculating the pandemic’s impact on billionaires’ fortunes, Eric Yuan, the US-based founder and chief executive of Zoom, the video conferencing software company, saw his net worth skyrocket by US$3.5 billion – or 77 per cent – to US$8 billion. This makes him the fast riser of the past two months.
Zoom has become ubiquitous as executives at companies around the world try to stay in touch while working from home. 
“The last two months have wiped out all the wealth made in the past two-and-a-half years, with the World’s Top 100 down 12.6 per cent, or US$408 billion, equivalent to each of the Hurun Top 100 losing US$75 million a day,” said Rupert Hoogewerf, Hurun Report’s chairman and chief researcher.
“China has been the relative winner,” he said. The country added six billionaires to the top 100 list, while India lost three and the US lost two. He said that the Hurun Report had 2,816 known billionaires before the Covid-19 pandemic, but that number had dropped by 20 per cent, as tanking stock markets wiped out net worth estimations.
More in the South China Morning Post.

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Thursday, February 27, 2020

China has more billionaires than the US and India combined - Rupert Hoogewerf

Rupert Hoogewerf
The annual Hurun Global Rich List counted today more billionaires in China than in the US and India combined, says Rupert Hoogewerf, chairman of the Shanghai-based Hurun Report after its publication on Wednesday, to Caixin. In 2019, China created 182 billionaires, three times the number as those in the U.S., according to the Hurun Report.

Caixin:

Despite a slowdown in the economy and trade tensions with the U.S., China had 799 billionaires in 2019, more than both the U.S. and India put together, according to the annual Hurun Global Rich List, which measured the wealth of some 2,816 billionaires from 71 countries and regions.
“China today has more billionaires than the U.S. and India combined,” said Rupert Hoogewerf, chairman of the Shanghai-based Hurun Report, which published the rankings Wednesday. He added that a boom in tech valuations and strong stock markets in China, the U.S. and India pushed the number of global billionaires to a record high of 2,816.
In 2019, China created 182 billionaires, three times the number as those in the U.S., according to the Hurun Report.
Alibaba founder Jack Ma, who retired in September last year, climbed a place to become the world’s 21st richest person with a net worth of $45 billion last year, retaining his title as China’s wealthiest person. Ma ranked just ahead of Tencent’s Pony Ma with a net worth of $44 billion and Xu Jiayin of property developer Evergrande with $33 billion.
An overseas pushback against Huawei and a U.S. blacklisting did not prevent the company’s founder, 76-year-old Ren Zhengfei from growing his personal fortune by 7% to $3 billion. He ranked at 903rd, the same as U.S. President Donald Trump.
Amazon founder Jeff Bezos was the world’s richest man for a third consecutive year with a $140 billion fortune, according to the list.

More in Caixin.

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Monday, March 11, 2019

US billionaires keep global top, despite China gains - Rupert Hoogewerf

Rupert Hoogewerf
The number of billionaires from China might be growing fast, US billionaires still earn far more, says Hurun China Rich List founder Rupert Hoogewerf to the Washington Post. The wealthiest in China was e-commerce giant Alibaba's founder Jack Ma, the world's 22nd-most-wealthy person, with US$39 billion.

The Washington Post:
The biggest gains in wealth last year came in the areas of technology, media and telecommunications, followed by real estate and other investments, manufacturing and retailing. 
The wealthiest in China was e-commerce giant Alibaba's founder Jack Ma, the world's 22nd-most-wealthy person, with $39 billion. Pony Ma Huateng of the Internet giant Tencent Holdings, with $38 billion, and Xu Jiayin of property developer Evergrande, with $37 billion, were close behind. 
Though people in China and other Asian nations are steadily gaining in wealth, Amazon founder Jeff Bezos topped the global chart for the second year running, with wealth estimated by the Hurun rich list at $147 billion. Bill Gates ranked second, with $96 billion, and Warren Buffett was third, with $88 billion. 
Gates' fortune rose by $6 billion in 2018 despite his enthusiasm for philanthropy, said Hurun Report Chief Executive Officer Rupert Hoogewerf. 
President Donald Trump's wealth fell by $500 million last year, the report said, to $3 billion, or 793rd. 
The only Asian among the 10 richest people in the world was Mukesh Ambani of Indian conglomerate Reliance Industries, who ranked No. 8 with wealth estimated at $54 billion. 
"Poor stock market performances and an appreciating dollar were the main reasons for this year's record drop in billionaires," Hoogewerf said in a statement. "Despite the strong dollar and its tax cuts, the USA added only 13 billionaires, but made it harder for the rest of the world to make the cut." 
Overall, the report said, there were 2,470 billionaires in the world, down 224 from last year. Their total overall wealth fell by $950 billion from the year before, to $9.6 trillion, because of stock market gyrations and a strong U.S. dollar, it said. 
Hoogewerf said he believes that the world's billionaires may number more than 6,000 people, since many seek to hide the extent of their wealth, especially in the Middle East. Forty billionaires from last year's list died in 2018. 
The newly minted Chinese billionaires included Colin Huang Zheng of e-commerce platform Pinduoduo and restaurant-group owner Zhang Yong and his, wife Shu Ping. Others were Zhang Yiming of ByteDance, an Internet technology firm valued at $75 billion, and Zhan Ketuan of bitcoin miner Bitmain.
More in the Washington Post.

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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Thursday, February 28, 2019

China rich list loses 213 billionaires in 2018 - Rupert Hoogewerf

Rupert Hoogewerf
Global gloom has hit billionaires worldwide, but especially in China, as 213 lost their position at the China Hurun rich list. Globally 430 dropped off the global edition. Poor performance of the stock markets mainly caused the drop, says Rupert Hoogewerf, chief researcher of the Hurun rich list in the South China Morning Post.

The South China Morning Post:
A record 213 Chinese billionaires dropped out of the widely watched Hurun Global Rich List, as slumping stock markets worldwide wiped out a combined US$1 trillion from the fortunes of the world’s wealthiest individuals, a report released on Tuesday showed.
Only 658 super-rich individuals living in the Greater China region made it to the 2019 list, down from 819 last year.
The squeeze felt by Chinese billionaires was much deeper than their peers in other countries, as the country’s worst stock market performance in four years was compounded by a weak yuan.
A year-long bearish stock market, partly attributed to the trade dispute between the United States and China and partly caused by a slowing economy and Beijing’s deleveraging campaign, saw the Shanghai Composite Index drop 25.7 per cent year on year as of January 31 – the cut-off date for the Hurun list. During the same period the Chinese stock market lost 13 trillion yuan (US$1.9 trillion) in market capitalisation.
“A big drop in the Chinese stock market coupled with a 6 per cent drop in the Chinese yuan were the main causes of the drop in [the number of billionaires from] China,” said Rupert Hoogewerf, chairman and chief researcher at Hurun Report, which compiles the list of individuals with a wealth of more than US$1 billion.
More in the South China Morning Post.

An overview of the global figures at Barrons. 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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Monday, January 28, 2019

Economic slowdown does not stop growth of wealth - Rupert Hoogewerf

Rupert Hoogewerf
The stagnation of China's growth caused a massive drop of rich out of the Hurun China Rich List, says Hurun chief researcher Rupert Hoogewerf. But that drop has been more than compensated by the record growth of new unicorns in the country, he tells the South China Morning Post. China fostered almost 100 new unicorns in 2018.

The South China Morning Post:
“This year, we have a record high number of people dropping from our Hurun China Rich List because of an economic slowdown,” said Ruper Hoogewerf, the chairman and chief researcher at Hurun, in a statement on Thursday. 
“However, there are still more than 200 new billionaires on the rich list and the leading companies of these new billionaires are these unicorns.” 
The latest Hurun findings further burnish how China’s start-ups – in industries spanning e-commerce and financial technology to transport and artificial intelligence – have helped transform the way the country’s people shop, travel, invest, eat and get entertainment over the past decade, riding on a flood of enthusiastic investments from domestic and overseas venture capitalists. 
On-demand internet services unicorns, however, increased the most to 45. These include car-hailing app operator Ucar and JD Digits, the fintech unit of China’s second-largest e-commerce services provider JD.com. 
While a total of 24 Chinese unicorns went public in 2018, some of these are now trading below their initial public offering prices like smartphone giant Xiaomi Corp and on-demand local services provider Meituan Dianping. That has resulted in investors’ weakened confidence in Chinese unicorns and triggered concerns about these firms being overvalued. 
Hoogewerf, however, suggested these concerns are exaggerated. “Of the 24 unicorns that went IPO last year, over 70 per cent beat their pre-IPO valuation, which goes to show there is less of a bubble in the valuations than some people suggest,” he said. 
Hurun also found that Beijing, Shanghai and Hangzhou were home to the most number of fast-growing Chinese start-ups last year – with 79, 42 and 18 unicorns, respectively, based in those major cities.
More in the South China Morning Post.

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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Friday, March 09, 2018

China dominates the woman self-made billionaires - Rupert Hoogewerf

Rupert Hoogewerf
Chinese women dominate the Hurun global self-made woman rich list, says Hurun founder Rupert Hoogewerf. The list is released on today's Women's Day, and has Zhou Qunfei of the Lens Technology firm as the topper, says the BBC.

The BBC:
China has once again dominated a list of global self-made woman billionaires. 
The top four women in the report by publisher Hurun - and five of the top 10 - come from the Asian superpower. 
Zhou Qunfei, who founded a firm that makes glass used to cover laptops and smartphones, was the world's richest self-made woman, with $9.8bn (£7.1bn). 
Her company Lens Technology has contracts with some of the biggest technology firms, and counts Apple and Samsung as its main customers... 
In total, 28 of the top 50 on the Hurun self-made list are from China. 
Ms Zhou took the top spot from Beijing-based real estate developer Chen Lihua ($8.1bn). 
Ms Chen, who runs Fu Wah International, slipped to third after her wealth barely changed since 2017. 
Another property developer, Wu Yajun from the western city of Chongqing, moved into second place. She is worth $9.3bn after a staggering 83% leap in her fortune in just 12 months. 
The richest self-made woman from outside China is American Diane Hendricks, the co-founder of Wisconsin-based ABC Supply, one of the US's largest distributors of roofing and windows.
More at the BBC.

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Friday, July 07, 2017

US and China dominate list of young billionaires - Rupert Hoogewerf

Rupert Hoogewerf
Young and self-made billionaires are mostly coming from the US and China, says a new listing of the Hurun China Rich List. That should serve as a wake-up call for the rest of the world, says Hurun chief researcher Rupert Hoogewerf to the South China Morning Post.

The South China Morning Post:
In China, the top spot belongs to the man behind drone maker DJI, Frank Wang or Wang Tao in Chinese, with an estimated fortune of $4 billion, placing him ninth. Wang turned his Hong Kong dorm room start-up into one of the world's largest sellers of consumer drones and now supplies 70% of the market. 
All told, the United States is home to 20 of the individuals, followed by China's 18. US-based firms that have created more than one billionaire on the list include Uber, Snapchat and Airbnb. 
Rupert Hoogewerf, the chairman of Shanghai-based Hurun Report, said the rankings should serve as an international wake-up call. The domination by the US and Chinese entrepreneurs "should be pretty scary for the rest of the world", Hoogewerf said. The list also gave insight into the rapid speed at which massive wealth is created in the new economy.
More in the South China Morning Post.  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. Are you looking for more stories by Rupert Hoogewerf? Do check out this list.  

Monday, March 27, 2017

One-child policy helped female billionaires - Rupert Hoogewerf

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China is leading the ranks of female billionaires. Rupert Hoogewerf, chief researcher of the Hurun China Rich List gives a few reasons why women are doing better on his list. One of them is the one-child policy, he tells Caixin.

Caixin:
Rupert Hoogewerf, chairman and chief researcher of the Hurun Report, said one reason so many women strike it rich on the Chinese mainland is the traditional family structure. "The one-child policy coupled with traditional child care, whereby grandparents often play a much larger role in bringing up children than in developed countries," has given women more space to pursue their ambitions, he said... 
According to Hoogewerf, one challenge in calculating the wealth of female billionaires is the difficulty in distinguishing between the wealth that belongs to a woman and her husband, especially in the case of women who had co-founded a business with a husband. 
An example of this is Zhou Hongwen, 46, who co-founded Tomorrow Group with Xiao Jianhua. The conglomerate has investments in real estate, insurance, banking, coal, cement and rare earth minerals, and the couple is estimated to be worth $5.5 billion. Although Zhou was instrumental in the company’s early decision to invest in the Inner Mongolia region, its stock exchange filings do not differentiate who owns what, making it difficult to split the couple’s wealth, Hoogewerf said. And the recent disappearance of Xiao from the couple’s apartment in Hong Kong, presumably to help Chinese authorities with an ongoing corruption inquiry, has put Zhou in the spotlight and may affect her fortunes.
Much more in Caixin.

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.

Are you looking for more stories by Rupert Hoogewerf? Do check out this list.  

Friday, March 10, 2017

Fewer people have more wealth - Rupert Hoogewerf

Rupert Hoogewerf
More wealth is concentrated in less hands, and the pace is accelerating, says Rupert Hoogewerf, chief research of the China rich list Hurun after publishing his Hurun Global Rich List, according to the CNBC. And most billionaires are living in China.

CNBC:
The world's billionaires are now worth $8 trillion, greater than the GDPs of Germany and France combined. 
According to the latest Hurun Global Rich List, published by the China-based Hurun Report research unit, there are now 2,257 billionaires in the world — up 3 percent from last year. 
Their combined fortunes jumped 16 percent over 2016, to the equivalent of 11 percent of the world's annual GDP. Their wealth was also larger than every country's individual GDP, other than the U.S. and China. 
"Billionaires are concentrating wealth at a supercharged rate," Rupert Hoogewerf, Hurun Report's chairman and chief researcher, said in a statement. 
Indeed, the number of billionaires has exploded over the past five years, rocketing 55 percent higher. Because much of the world's wealth is hidden or difficult to find, the actual number of billionaires may be closer to 5,000, Hoogewerf said. 
"While some billionaires go to extraordinary lengths to conceal their wealth, for the most part it is that they are discreet and prefer operating under the radar," he said.
More at CNBC.

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.

Are you looking for more stories by Rupert Hoogewerf? Do check out this list.