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Mr Zhang is not the only representative of China’s huge tech sector on the list.<\/p>\n
Pony Ma, boss of the tech conglomerate, Tencent, is third on the list with an estimated personal wealth amounting to \u00a344.4bn.<\/p>\n
But their fortunes are not just explained by their companies successes – their rivals have made less in a year in which China’s economy has sputtered.<\/p>\n
In fact, only approximately 30% of the people on the list had an increase in their net worth – the rest saw a decline.<\/p>\n
\u201cThe Hurun China Rich List has shrunk for an unprecedented third year running, as China\u2019s economy and stock markets had a difficult year,” said Mr Hoogewerf. <\/p>\n
“The number of individuals on the list was down by 12% in the past year to just under 1100 individuals and 25% from the high point of 2021.”<\/p>\n
He said the data showed it had been a good year for smartphone manufacturers such as Xiaomi, while the green energy market had stumbled.<\/p>\n
\u201cSolar panel, lithium battery and EV makers have had a challenging year, as competition intensified, leading to a glut, and the threat of tariffs added to uncertainties,” he said. <\/p>\n
“Solar panel makers saw their wealth down as much as 80% from the 2021 peak, whilst battery and EV makers were down by half and a quarter respectively.”<\/p>\n<\/div>\n<\/div>\n
![\"Zhang](\"https:\/\/ichef.bbci.co.uk\/ace\/standard\/240\/cpsprodpb\/7b16\/live\/0a908850-95dd-11ef-9eb7-7b7defb4f9e7.jpg.webp)
<\/picture><\/span>Getty Images<\/span><\/div>\n<\/figure>\n<\/div>\n