Shanghai remains home to the largest number of overseas Chinese billionaires according to latest figures from the Gao Fu Hurun 2012 Wealth report.
The research found Pudong was Shanghai’s wealthiest postcode followed by Changning district in Puxi for the highest number of super rich setting up home in the city.
Shanghai today has 370,000 dollar millionaires, including 140,000 individuals with RMB 10m (up 6.1%) and 8,200 individuals with RMB 100m, (up 5.1%).
Pig feed king Liu Yongxing is the richest individual living in Shanghai, with a personal fortune of RMB 41 billion. He is followed by street fashion entrepreneur Zhou Changjian with RMB 32 billion.
Shanghai’s super-rich individuals account for 12.9 percent of wealthy Chinese in China.
Now in its second year, the Shanghai Wealth Report was compiled by the Hurun Research Institute and independent financial advisor, Gao Fu Club.
Rupert Hoogewerf, Chairman and Chief Researcher of the Hurun Report, said, “Beijing may be the capital of China, but Shanghai is the capital for international Chinese, with more of the top international Chinese entrepreneurs settling here than any other city.”
Shanghai ranks third in China in terms of number of rich and super-rich individuals. ■
Shanghai’s rich list: A snapshot
• Pudong is the richest postcode in Shanghai, followed by Changning District, which is also the richest postcode in Puxi.
• Shanghai today has 370,000 dollar millionaires, 140,000 individuals with RMB 10m up 6.1% and 8,200 individuals with RMB 100m, up 5.1%.
• Pig Feed King Liu Yongxing and Street Fashion King Zhou Changjian are the richest individuals living in Shanghai with personal fortunes of RMB 41bn and RMB 32bn respectively.
• Property Tycoon Ye Lipei is the richest Shanghainese, followed by art collecting husband and wife Liu Yiqian and Wang Wei with personal wealth of RMB 17bn and 11bn respectively.
• Property Developer Xu Jiankang is the most generous philanthropist living in Shanghai, donating RMNB 30.1m last year. Shi Jianxiang is the most generous Shanghainese, donating RMB 25.3m last year.
• Shanghai today has 250 individuals with RMB 2bn (equivalent to US$320m), of which 82 are on the Hurun Rich List 2011. Shanghai has 90 dollar billionaires, of which 28 are ranked on the Hurun Rich List 2011.
• Property, manufacturing and investments are the top three sources of wealth for the Shanghai billionaires.
• Shanghai is attractive for women entrepreneurs with 23% of the richest 82 being female compared with only 15.5% of the Hurun Rich List 2011.
• Shanghai attracts entrepreneurs from other provinces. Of the richest 82, 59 are from other provinces, mostly Zhejiang.
• Many overseas Chinese have made Shanghai their preferred base, led by Taiwanese Tsai Eng-meng, Indonesian Chinese Elijah Widjaja and Vincent Loh of Hong Kong.
• The most successful Shanghainese outside Shanghai live in Hong Kong and Beijing.
• Metersbonwe, Home Inn and Ctrip are the three most valuable private homegrown brands headquartered in Shanghai.
• Shanghai’s youngest self-made Renminbi billionaire is 32-year old basketball player Yao Ming.
*Hurun Shanghai Wealth Report, May 2012.