China is home to 10 percent of the world's almost 2,400 billionaires. However, 94 percent of them are self-made billionaires, according to a latest report from Wealth-X.
Just two percent of China's 249 billionaires gained their wealth through inheritance, while four percent became self-made billionaires through a combination of entrepreneurship and inheritance. However, the rest have earned big bucks through hard work and dedication.
The massive growth in technology, consumer retail and real estate sectors over the past five to 10 years have made it easier for entrepreneurs to build their fortune, leading to a massive surge in the country's self-made billionaire population, according to CNBC.
Comparing the figures globally, 55 percent of the world's billionaires are self-made. 13 percent of the world's billionaires have gained their wealth through inheritance, while 32 percent have built it through a combination of inheritance and entrepreneurship.
Given below are the top 10 wealthiest self-made Chinese billionaires:
10. Yan Jiehe
Born the youngest of nine children, Yan's earliest memory is of going hungry, he told Fortune magazine in 2014. Like his parents, he began his career as a school teacher, before moving into the construction industry.
In 1995, Yan launched China Pacific Construction Group. His net worth amounts to USD 14.1 billion.
9. Zhang Zhidong
Also known as Tony Zhang, he was born in 1971 and met fellow Tencent co-founder Huateng Ma while studying at Shenzen University.
Ma and Zhang, alongside three other co-founders, launched Tencent Holdings, an internet company in 1998. Zhang's net worth is USD 15 billion.
8. Lei Jun
Born in 1969, Lei studied computer science at Wuhan University and worked as an engineer before taking on senior positions in several technology companies.
In 2010, he co-founded smartphone manufacturer and software company Xiaomi and his net worth is USD 15.1 billion.
7. Li Hejun
A mechanical engineering graduate, Li founded Hanergy in 1991 with just 50,000 yuan (approximately USD 8,000) borrowed from his college teacher, according to the company's website.
Today, Hanergy is a world-leading renewable energy company. His net worth amounts to USD 15.5 billion.
6. Ding Lei
Ding is the founder of Chinese internet technology company NetEase, which provides online content, communications and commerce services.
He launched his business in 1997 after studying electronic science and technology and working as an engineer for a short period of time. His net worth is USD 17.2 billion.
5. Wang Jainlin
Born in 1954, Wang served in China's People's Liberation Army for sixteen years before setting up Dalian Wanda Group in 1988.
Today, it is China's largest real estate development company. Wang also owns 20 percent of the Spanish football club, Atletico Madrid. His net worth amounts to USD 18.1 billion.
4. Yang Huiyan
Chinese property developer Yang is the majority shareholder and vice-chairman of Country Garden Holdings, a property development company was set up by her father, Guoqiang Yang in 1992.
Yang was named the richest woman in Asia in a 2015 Wealth-X report. Her net worth stands at USD 20.7 billion.
3. Hui Ka Yan
Hui Ka Yan, also known as Xu Jiayin, was born in a rural village in Henan province in 1958.
After graduating, he worked as a technician in a steel factory for a decade before becoming chairman of Chinese real estate developer Evergrande Group. His net worth amounts to USD 27.5 billion.
2. Jack Ma
Born in Hangzhou in 1964, Jack Ma began his career as a teacher and famously suffered dozens of job rejections before launching Alibaba Group in 1999.
Today, the company is the world's largest retailer and one of the largest technology companies in the world. Jack Ma's net worth stands at USD 40.2 billion.
1. Huateng Ma
The son of a port manager, Huateng Ma studied computer science at Shenzhen University before starting his career in telecommunications.
Also known as Pony Ma, he launched Tencent Holdings alongside four college classmates, including Zhang Zhidong in 1998. He now serves as its chairman and the Chief Executive Officer (CEO). His net worth amounts to USD 41.8 billion.
Disclaimer: No Business Standard Journalist was involved in creation of this content
