China is no joke when it comes to money. It is home to the most number of billionaires globally, 814 billionaires as of the Hurun Report 2024. Since China is the largest economy in Asia, these numbers are no surprise!
China had a nominal GDP of over $18,566 billion as of 2024. It is the biggest high-tech exporter and has the second-biggest financial assets globally. So, overall, China has many billionaires. Some have reached beyond the age of retirement and continue. Here are the 6 oldest billionaires in China.
6 Oldest Billionaire in China
6. Li Xiaohua & family
Age: 62
Billionaire Rank (Global): 2545
Net Worth: $1.1 billion
Photo Source: Byteimg
Li Xiaohua is the vice chairman of Yunnan Energy New Material. It is listed in the Shenzhen Stock Exchange (SZSE) and supplies paper packaging materials and polypropylene film.
Li Xiaohua is an alumnus of the University of Massachusetts. He graduated in 1993, majoring in polymer materials. Right after graduation, Li Xiaohua started working for World-Pak Corp. in the U.S. up until 1996. The chairman of Yunnan Energy New Material is his brother, Paul Xiaoming Lee. Paul Lee is a U.S. citizen, whereas Li Xiaohua is a Chinese citizen.
Did you know?
Some popular clients of Yunnan Energy New Material are LG Chemical, Contemporary Amperex Technology, and Panasonic.
5. Jiang Weiping & family
Age: 69
Billionaire Rank (Global): 809
Net Worth: $3.1 billion
Photo Source: Gstatic
Jiang Weiping is the chairman of Tianqi Lithium Industries. He founded the company in 1995. Tianqi Lithium Industries manufactures lithium products and chemicals and is listed on the Shenzhen Stock Exchange (SZSE). The company’s vice chairman is Jiang Weiping’s daughter, Jiang Anqi.
Through a Hong Kong stock offering, Tianqi Lithium raised $1.7 billion in July 2022. The company’s growth sped up with the growing demand for lithium in electric vehicle batteries.
Did you know?
Jiang Weiping was a technician, administrator, and sales engineer before founding the company.
4. Liu Yongxing
Age: 75
Billionaire Rank (Global): 224
Net Worth: $9.9 billion
Photo Source: Gettyimages
Liu Yongxing and his three brothers started the “Hope Group” company in 1982 with just 1,000 RMB. In 1995, the Hope Group was split into four separate companies. As a result, Liu Yongxing founded the East Hope Group in 1995.
Liu Yongxing relocated the East Hope Group headquarters to Shanghai in 1999, and in 2002, he entered the Aluminium industry. Today, Liu Yongxing is the chairman and CEO of East Hope Group. The company is in heavy industry, agriculture, and real estate. His son, Liu Xiangyu, sits on East Hope’s board.
Did you know?
Liu Yongxing received the “2001 CCTV Top 10 China’s Economic Leaders” and the “Sohu 2001 Top 10 Financial Leaders” awards in 2002.
3. Zheng Shuliang & family
Age: 78
Billionaire Rank (Global): 322
Net Worth: $10.9 billion
Photo Source: Tatlerasia
Ms. Zheng Shuliang is the vice chairman and executive director of China Hongqiao Group. The company was founded by her late husband, Zhang Shiping and is one of the largest aluminium producers in China.
Ms. Zheng Shuliang became the vice-chairman and an executive director of the Company on 16 January 2011. She has been a director and vice-chairman of Shandong Hongqiao since January 2010. Ms. Zheng Shuliang has also been a director of Weiqiao Aluminum and Power since November 2011.
Zhang Shiping and Zheng Shuliang’s son is now the chairman and CEO of China Hongqiao Group.Their daughter, Zhang Hongxia, is the chairman of Weiqiao Textile.
Did you know?
Ms. Zheng Shuliang worked at Weiqiao Pioneering Group from November 1996 to June 2001 and led the metrology section of the raw material purchasing department and the raw material supply department.
2. He Xiangjian
Age: 81
Billionaire Rank (Global): 80
Net Worth: $25.6 billion
Photo Source: Pitchme-am
He Xiangjian is the founder of one of China’s biggest appliance manufactur companies called Midea. He started Midea in 1968 with 23 residents from the town of Beijiao in Guangdong Province. Midea started as a small lid production workshop. Today, Midea Group has more than 200 subsidiaries, including Germany-based robotics firm Kuka.
He Xiangjian retired from Midea Group operatiocommercial property developersns in 2012. Since then, his son, He Jianfeng, took over as a director of Midea Group and Midea Real Estate Holding.
He Xiangjian is passionate about art. He is an art collector and founded the He Art Museum. The museum is designed by Pritzker Prize winner Tadao Ando.
Did you know?
He Xiangjian survived an attempted kidnapping in June 2020 at his villa in Foshan.
1. Chan Laiwa & family
Age: 83
Billionaire Rank (Global): 661
Net Worth: $4.7 billion
Photo Source: Wikimedia Commons
Chan Laiwa founded the commercial property developement company, Fuwah International Group in 1988. Chan Laiwa is known as “Boss Mum” within her company for her kind and friendly nature. Some of her best works are the Jinbao Street, including the Jinbao Tower, Regent Building, and Beijing Hong Kong Jockey Club.
Chan Laiwa grew up in poverty and started her own furniture repair business. In the early 1980s, she moved to Hong Kong and built her wealth through real estate investments. She returned to Beijing in the late 1980s to expand her real estate business.
Today, Fuwah International Group is expanding their business outside of china. They are investing in hotels in countries like New Zealand and Australia.
Did you know?
Chan Laiwa is also the curator of the China Red Sandalwood Museum. She invested 200 million yuan to build the Chinese Red Sandalwood Museum. She also donated red sandalwood carvings to museums in the US, Japan, Germany, and France to promote the art internationally.
Conclusion
China is home to some of the richest people on earth. Most of their billionaires are in real estate or tech industry. These people are way beyond traditional retairemwnt age and most of then are still working at the empires they built.
These 6 oldest billionaires in China includes self made billionaires and women, which are uncommon. However, it is a step in the right direction.
