(ECNS) -- Wang Jianlin, chairman of Dalian Wanda Commercial Properties Co, has overtaken Hong Kong billionaire Li Ka-shing to become the richest Chinese in the world with a fortune of $42.6 billion, according to a Hurun Research Institute report.
The Hurun Global Chinese Rich List 2015, a ranking of the richest Chinese in the world, states that 61-year-old Wang increased his wealth driven mainly by the recent listings of his real estate and cinema businesses.
Rupert Hoogewerf, Hurun Report chairman and chief researcher, said, "10 years ago, the most successful Chinese were all outside mainland China. Today that has changed completely, with Wang Jianlin of Wanda representing the new era of mainland entrepreneurs."
Li Ka-shing, 87, came second with a fortune of $32.8 billion. With the bulk of his wealth made in real estate, Li has been investing heavily into the UK.
Hurun Research found 1,577 Chinese from across the world with wealth of $320m or more. The total wealth of these rich individuals amounts to $2.1 trillion, equivalent to the GDP of Russia, or 1.5 times that of South Korea.
The Chinese mainland dominates with 79.5 percent of the list, followed by Hong Kong with 6.3 percent and Taiwan with 4.9 percent. Next comes Singapore, Malaysia and Indonesia.
