Ali Baba founder Jack Ma has pipped Wanda Group head Wang Jianlin to the position of China’s wealthiest individual.
The latest Forbes list of the world’s wealthiest individuals indicates that Jack Ma’s net worth is USD$30.9 billion, putting the Hangzhou-born e-commerce tycoon ahead of Wang Jianlin, for whom the figure is $30.7 billion.
According to Forbes’ real time list of the world’s wealthiest, Jack Ma is the 21st richest person in the world while Wang Jianlin is 22nd.
China’s third richest individual, Internet mogul and Tencent founder Ma Huateng, comes in 24th on the world’s wealthiest list, with a net value of $29.8 billion.
For the past several years Jack Ma and Wang have vied against each other for the title of China’s wealthiest man, although Ma Huateng may soon be in the running if Tencent share prices continue to rise.
The world’s richest ethnic Chinese individual, however, remains Hong Kong-based Li Kashing, who is also the richest man in Asia, with an estimated net worth of $32.9 billion.