Zhong Shanshan. Jack Ma. Chen Jianhua.
These are the names of some Chinese billionaires whose financial successes have been nothing short of astronomical.
They are also dads. And they’re ready to hand the reins — and a total wealth of over US$120 billion — over earlier than previous generations.
“China’s entrepreneurs are thinking about succession five to 10 years earlier than they used to. They are seeing more paradigm shifts in the economy and business environments,” Hao Gao, director of Tsinghua University’s PBCSF Research Centre for Global Family Business, told Bloomberg.
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A new wave of Chinese billionaires
In recent years, China has produced some of the world’s wealthiest.
According to the Bloomberg Billionaires Index, the combined fortune of 55 of the nation’s wealthiest rose 16% to US$809.6 billion since January 2024.
Tech remains the largest sector, featuring Chinese billionaires such as Tencent Holdings Ltd.’s Pony Ma, PDD Holding’s Colin Huang, Lei Jun, founder of smartphone maker Xiaomi Corp, and Chen Tianshi, chairman of AI processor-maker Cambricon Technologies.
Wang Ning, the billionaire behind toymaker Pop Mart International Group Ltd., had his fortune tripled in just a year over the collectable designer toys that have taken the internet by storm.
At just 30 years old, Zhang Junjie is yet another on the list of Chinese billionaires, as his fresh tea franchise Chagee rapidly makes its way through global markets.
He aims to position Chagee alongside global brands like Starbucks — he may very well be on the way to achieving this as health-conscious consumers are shying away from the high-calorie, bubble tea boom.
And while these Chinese billionaires are accruing massive amounts of wealth domestically, those with children are planning their legacies.
It’s usually a given that these young individuals will gradually assimilate into their parents’ companies, with some poised to take over one day.
How do these Chinese billionaires ensure they have the skills necessary to run an empire?
The answer? An international education.
Zhong Shanshan is the founder of Nongfu Spring mineral water, China’s largest packaging water supplier. Source: AFP
Where did the heirs of Chinese billionaires go to uni?
Some Chinese billionaires keep their children’s education private. Jack Ma, founder of Alibaba Group and one of China’s richest individuals, sent his son to study abroad in Canada under a pseudonym to keep his identity confidential.
It’s also widely reported that China’s president Xi Jinping sent his daughter abroad to Harvard University, but any attempt at gaining or leaking her personal information resulted in prosecution.
But for some Chinese billionaires,
1. Zhong Shu Zi
- Parent(s): Zhong Shanshan
- Role: Non-Executive Director
- Family wealth: US$62.3 billion
Zhong studied English at the University of California, Irvine and graduated in December 2011. He also holds a master’s degree in international business from Zhejiang University, one of China’s most prestigious institutions.
In 2014, he joined his dad’s business, Nongfu Spring, China’s largest bottled water maker, and became the general manager of the brand centre in 2020. He also holds a non-executive director position, and served as a member of the audit committee from 2020 to 2023.
The company recorded a revenue of US$6.03 billion in 2023.
Geely Auto is a leading automobile manufacturer based in Hangzhou, China and was founded in 1997. Source: AFP
2. Li Xingxing
- Parent(s): Li Shu Fu
- Role: Executive General Manager
- Family wealth: US$10.1 billion
Li studied economics at the University of Essex in the UK.
Upon graduation, he joined Zhejiang Geely Holding Group in 2012. Today, he heads its Chinese-Swedish car brand — Lynk & Co. — which targets young professionals.
Geely, one of China’s top car makers, was founded by Li’s father. Based in Hangzhou, the company made the country’s biggest acquisition of a foreign carmaker when it bought Volvo for US$1.8 billion in 2010.
3. Sun Yuan
- Parent(s): Zhong Huijuan
- Role: Executive Director
- Family wealth: US$8.4 billion
Sun studied biomedical sciences at the University of Cambridge, graduating in 2007. She then worked as an analyst at an investment firm before joining Hansoh, a Chinese maker of psychotropic drugs, in 2011.
The company, based in Lianyungang, Jiangsu province, produces medicines to treat conditions including diabetes, infections, tumours and diseases of the nervous system. In 2022, recorded revenue was US$1.32 billion.
As Executive Director, Sun is primarily responsible for guiding research and development strategies. Beyond this, she explores opportunities for the business.
Dali Foods Group is a baked goods company in China that was founded by one of China’s billionaires. Source: AFP
4. Xu Yangyang
- Parent(s): Xu Shihui
- Role: Vice President and Executive Director
- Family wealth: US$7.3 billion
Xu studied international economy and trade at Xiamen University and joined Dali Foods Group in 2008. She was named a director in 2014 and now manages day-to-day operations.
The Xu family owns the Dali Foods Group. It manufactures drinks, snacks and pastries. They have 30 food and beverage production bases across mainland China.
5. Jiang Anqi
- Parent(s): Jiang Weiping
- Role: Vice Chairperson
- Family wealth: US$4.3 billion
Jiang graduated from Concordia University in Canada with a bachelor’s degree in 2012.
Four years after graduating, she joined Tianqi Lithium, a lithium miner and supplier to electric vehicle battery makers. Her father, Jiang Weiping, chairs the company.
Within a year, Jiang became executive director. In 2022, she became the vice chairperson and now helps with strategy and investment.
In the same year, she also obtained an MBA from Southwestern University of Finance and Economics in China.
6. Ruan Zeyun
- Parent(s): Ruan Zeyun
- Role: President
- Family wealth: US$3.7 billion
Ruan graduated from Sheffield University with a master’s degree in management and joined Flat Glass Group in 2009. Today, she is in charge of managing the overall business.
Her father founded the group, which produces one-fifth of the world’s solar glass.
The Jiaxing-based company also manufactures standard glass and reported revenue of 21.52 billion yuan (US$2.9 billion) in 2023.
Founded by Gao Jifan, Trina Solar is a world leader in solar energy innovation and reliability. Source: AFP
7. Gao Haichun
- Parent(s): Gao Jifan
- Role: Chairperson
- Family wealth: US$3 billion
Gao studied economics at Brown University. After a brief stint at consulting firm McKinsey & Co., she joined Trina Solar’s investment arm in 2017.
Her father founded Trina Solar, one of the world’s largest solar product manufacturers, in 1997.
The Changzhou-based company manufactures solar cells, silicon wafers, power plant equipment and related products. In 2022, the company recorded a revenue of US$11.98 billion.
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8. Ding Jiamin
- Parent(s): Ding Shui Po
- Role: Head of Half-Sugar Brand
- Family wealth: US$1.2 billion
Known as Annie Ding on her Rednote platform, she is the daughter of Ding Shui Po, founder of sportswear brand Xtep.
The sportswear maker counts K-Swiss, Saucony and Merrell among its brands. It has over 6,400 stores around the world, bringing in a revenue of almost US$1.83 billion in 2022. Two years after joining Xtep, Ding led a team to found Half-Sugar, a sportswear collection aimed at young female consumers.
She reportedly studied in the UK, but met her husband Zhou Liyuan while abroad. He is a graduate from the University of Toronto in Canada, and the son of Septwolves chairman Zhou Shaoxiong.
9. Wang Sicong
- Parent(s): Wang Jianlin
- Role: Director of Dalian Wanda Group, Chairman of Prometheus Capital
- Family wealth: US$6.3 billion
Wang Sicong attended Swiss Cottage Primary School in Singapore as a child, and then entered Winchester College in the UK for a diploma.
After graduating, he enrolled at the University College London (UCL) Department of Philosophy.
His father’s empire, Dalian Wanda Group, is China’s largest real estate developer, as well as the world’s largest movie theatre operator. Wang Sicong held a director position for two short periods of time (2009-2011, 2016-2022) among his other ventures, which include private equity, music management, and even luxury hotel construction.
He is the chairman of Prometheus Capital, a private equity company. His professional esports organisation, Invictus Gaming, went on to win The International 2012 Dota 2 championship as well as the League of Legends Worlds Championship in 2018.
10. Liu Wenchao
- Parent(s): Liu Yiqian and Wang Wei
- Role: –
- Family wealth: US$1.37 billion
Liu Wenchao is the daughter of Liu Yiqian and Wang Wei, a globally recognised couple when it comes to art collecting in Asia. They are the Chinese billionaires behind the Long Museum in Shanghai, one of China’s foremost private art institutions.
It seems that Liu Wenchao is keen to follow her parents’ footsteps, having earned a graduate degree in art management from New York University in 2014. However, no further information is known beyond her graduation.
Disclaimer: This article was last updated on April 28, 2025.
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