Mark Zuckerberg, Zhang Yiming lead world’s richest under-40s in Hurun’s annual ranking of billionaires
- Kuaishou’s IPO debut in Hong Kong catapulted founders Su Hua and Cheng Yixiao to third and fourth spots in the latest Hurun ranking
- Mark Zuckerberg’s wealth rose by 20 per cent to US$101 billion last year, almost double the net worth of second-placed Zhang Yiming of ByteDance
The duo led a list of 79 self-made billionaire-entrepreneurs under the age of 40 globally, 26 more than last year. Their combined wealth rose 79 per cent last year to 3.4 trillion yuan (US$519.3 billion), according to Hurun. That is almost equivalent in size to the economy of China’s capital, at 3.6 trillion yuan.
The US, however, is likely to remain the country with the most wealthy individuals, with its current population of more than 180,000 forecast to grow by 24 per cent in the next five years, Knight Frank said.
Su’s net worth surged 728 per cent to US$24 billion while Cheng boosted his wealth by 829 per cent to US$19.5 billion, according to Hurun. Kuaishou’s stock surged 161 per cent during February trading debut, valuing the 10-year-old unprofitable company at HK$1.23 trillion (US$158 billion).
Dustin Moskovitz, who co-founded Facebook, rounded off the top five under-40s with a net worth of US$17 billion, an increase of 27 per cent from a year ago, according to Hurun.
Both the US and China added 11 people to the list of 75 wealthiest billionaires of under 40, with 31 Americans on the list, compared with 30 in China.
Beijing had the most number of under-40 self-made billionaires with four in the top 10 hailing from the Chinese capital. They included 40-year-old Zhang Bangxin, the founder of the tutoring group TAL Education who is worth US$15.5 billion.
Making a rare appearance is a 28-year old Hong Kong-based entrepreneur Sam Bankman-Fried of cryptocurrency exchange FTX. At US$10 billion, he is tied on the 15th spot with two other billionaires.