Forbes releases China Rich List

Business media company Forbes has unveiled its China Rich List in Shanghai.

The president of BYD Auto, Wang Chuanfu, topped the list as China's richest person. President of the East Hope Group, Liu Yongxing, was listed second and president of Zhejiang Wahaha Group, Zong Qinghou, came in third.

The list's top 40 tycoons saw their total assets surge from 52 billion US dollars to 106 billion US dollars during the past year. All of the top 40 tycoons are billionaires that's up nearly double from the 24 in 2008.

Wang Chuanfu has a net worth of 5.8 billion US dollars, a sharp increase from 1.06 billion US dollars a year ago. BYD Auto recently acquired investment from Warren Buffett, which is expected to spur the company's stock price further.

Insight:

Crisis? What crisis? Rich get even richer

The ranks of China's super rich ballooned during the past year, despite the financial crisis, with the number of US dollar billionaires jumping from 101 to 130.

The rise in fortunes means China is now home to the world's second-largest population of billionaires - following the US, which has 359. Full story >>

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