The TMT, or technology, media and telecom sector has created the most billionaires in China, with 80 from the sector according to business magazine New Fortune’s 500 rich list in 2019.
China’s richest man — Tencent’s Pony Ma — is from that sector, with a personal wealth of 226.04 billion yuan.
Supported by technology, online consumption is generating more wealth. As founder and CEO of online discounter Pinduoduo, Huang Zheng’s personal wealth grew fastest, surging 1,036.3 percent from a year earlier in the latest list to 76.13 billion yuan.
Zhang Yiming, founder and CEO of multimedia giant ByteDance, enters the list of top 10 richest Chinese for the first time, moving from the 232 spot last year, and his personal wealth jumped 541.7 percent year-on-year to 77 billion yuan.
Now, let’s take a look at the 10 industries that produced the most hyper-wealthy tycoons.
No 9 (tie) Chemical industry
Billionaire count: 21
Richest man: Li Shuirong and his family