Pinduoduo chief rises fastest on new Hurun Global Rich List Top 100

Huang Zheng, chairman and CEO of China's largest online group discounter Pinduoduo, takes position as the fastest riser on the Hurun Global Rich List Top 100 during past four months, with his wealth increasing 124 billion yuan ($17.5 billion) to 250 billion yuan by May 31, according to the ranking agency's latest report, "Wealth Impact 4 months after the Covid-19 Outbreak" on Tuesday.

The Hurun report said the top 5 fastest risers are all from China, with other four are Pang Kang from Haitian soy sauce, Xu Hang from Mindray, Liu Yonghao and his family from New Hope, and Zhang Yong and Shu Ping from hotpot chain Haidilao.

Tencent's Pony Ma remains China's richest man with a 320 billion yuan fortune, followed by Alibaba's founder Jack Ma and his family with a 305 billion yuan, and Pingduoduo's Huang Zheng.

Liu Qiangdong, chairman and CEO of JD.com, enters the global rich list for the first this year to take the 72nd spot, with his wealth up 24 percent from a year earlier, to 115 billion yuan.

During past four months since the COVID-19 outbreak began, 60 percent of the Hurun Global Rich List Top 100 saw their wealth rise or stay the same, while 40 percent were down, the report said.

By May 1, China added three individuals to the world's top 100 billionaires, with the US, Russia and Italy each adding one. Among the top 100, 37 are from the US and 26 from China.

"China has narrowed the gap with the USA at the top of the Hurun Global Rich List, from 13 down to 11", said Rupert Hoogewerf, Hurun Report chairman and chief researcher.