The Hurun Research Institute on Nov. 27 released its Richest Women in China 2020 List. Huiyan Yang, executive co-chairman and majority shareholder of real estate giant Country Garden Holdings, topped the list for the fourth consecutive year.
Aged 39, Yang’s wealth has increased by 50 billion to 225 billion yuan this year, or 57% the worth of of Jack Ma, Alibaba’s founder. Back in 2007, Yang had received 9.52 billion shares of Country Garden from her father Guoqiang Yang, the founder of the company, equal to 70% of the business’ overall equity, making the then-25-year-old Ms. Yang the richest woman in mainland China overnight.
Sixteen out of 50 women on the list have inherited their fortune and taken over part of the family business, including 40-year-old Chang Liu, whose father Yonghao Liu established one of China’s biggest animal feeding and agricultural products manufacturing companies. Five out of the top 10 are from the real estate industry.
Among the other 34 self-made female entrepreneurs is 50-year-old Qunfei Zhou from Lens Technology, a mobile glass screen manufacturer, whose wealth has witnessed the fastest growth among those listed, rising by 79 billion this year. She entered the top 3 with a fortune of 110 billion yuan.
Peng Lei, one of the co-founders of e-commerce mammoth Alibaba and a shareholder of Ant Group, made it back onto the list with a net worth of 30.5 billion.
The average net worth of the top 10 female entrepreneurs was 101.9 billion yuan, an increase of 91% compared to last year. And a far higher rate than the top 10 male entrepreneurs’ average growth of 69%.