China’s New Media Moguls Dominate Asia Rich List

New media billionaires jostle with property tycoons at the top of a new list of Asia’s most wealthy published by the Harun Report.

Dalian Wanda founder, Wang Jianlin tops the list with an estimated fortune of RMB260 billion ($40.6 billion) and deposes Hong Kong property, retail, and telecoms magnate Li Ka-Shing who has long been regarded as Asia’s wealthiest. Li weighs in at RMB200 billion ($31.3 billion), according to Harun.

Wang fits both categories as he made his fortune in real estate development and is now busily transforming Wanda from a property play into leisure, entertainment and e-commerce powerhouse. Wanda and its affiliates own the AMC cinema chain in the U.S., the Hoyts chain in Australia and Wanda Cinema Line, China’s biggest movie theater chain.

Jack Ma, founder and executive chairman of e-commerce giant Alibaba, is ranked third with a fortune of RMB165 billion ($25.7 billion).

Others in the list include Pony Ma Huateng, co-founder of social media giant Tencent, and Robin Li Yanhong head of search engine and portal group Baidu.

Traditional property and industrial concerns are also represented by Lee Shau-kee of Hong Kong’s Henderson Land, Robert Kuok of Kuok Group, and Cheng Yu-tung of Hong Kong’s New World Group.

The annual list measures the wealth of people of Chinese origin around the world with a net worth of over RMB2 billion ($313 million). It notes that ten years ago most wealthy Chinese lived outside mainland China that has changed substantially. Instead, Harun hailed a “new era of mainland China entrepreneurs”.

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