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4 Chinese among top 10 self-made billionaires under 40

/ 05:21 PM April 13, 2021

The logo of ByteDance, the company that owns the short video app TikTok or Douyin, is seen at its office in Beijing on July 7, 2020. [Photo/Agencies]

BEIJING — Four Chinese entrepreneurs, three from internet companies and one from the education field, ranked in the top 10 of self-made billionaires under 40 around the globe, as Hurun Research Institute released its Global U40 Self-Made Billionaires 2021 list today in Shanghai.

Two new faces appeared in the list, as the threshold for top 10 nominees is 84 billion yuan ($12.82 billion), 2.5 times that of last year.

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Mark Zuckerberg, 36, co-founder, chairman and CEO of Facebook, topped the list for the sixth consecutive year, with personal wealth of 653 billion yuan, 60 billion yuan more than last year.

Zhang Yiming, 38, founder of internet company ByteDance, which owns short video app TikTok or Douyin, jumped one spot to second place with personal wealth of 350 billion yuan, a 250 billion yuan increase from a year earlier.

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Su Hua, 39, co-founder, chairman and CEO of short video platform Kuaishou, entered the top five for the first time, ranking third with wealth of 155 billion yuan.

Cheng Yixiao, 36 and also a co-founder of Kuaishou, ranked fourth on the list with a fortune of 125 billion yuan. The Beijing-based internet company’s valuation exceeded 1.1 trillion yuan at its stock market debut in Hong Kong February this year.

Zhang Bangxin, 40, chairman and CEO of Tomorrow Advancing Life Education Group, remained in sixth place with a personal wealth of 100 billion yuan, which increased 49 percent from last year. TAL’s stock price has risen to almost 10 times its initial value in the past five years, with current market value exceeding 260 billion yuan. The education group, focusing on extracurricular tutorials, owns nearly a thousand teaching schools in more than 100 cities.

This year’s list includes 79 self-made billionaires under 40 around the globe, 26 more than last year. All 79 billionaires come from 10 countries, with an average age of 36. Their total wealth is 3.4 trillion yuan, 1.5 trillion yuan more than a year earlier.

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TAGS: Business, China, Global U40 Self-Made Billionaires 2021, Hurun Research Institute
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