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Chinese Crypto Giants Feature the Top Richest in China

Well-known Chinese crypto giants are prominent on the list of the top richest in China, according to Hurun China Rich List 2019 released on October 10.

Bitmain’s founder Micree Zhan and Jihan Wu, Huobi’s Leon Li, and Binance’s founder Chaopeng Zhao all edged themselves into the top richest list in China.
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As the world’s largest rich list compiler, Hurun Report has a  keen insight and good judgment on the economic trend in China. In its newest list, the rankings include 12 faces from the blockchain sector, among which 5 are from Bitmain. With 30 billion Chinese yuan (roughly $4.2 billion) in wealth, Micree Zhan, the 40-year-old low-profile cofounder and technical mastermind of Bitmain – world’s dominant producer of cryptocurrency mining hardware, took the 100th place on the list. He successfully defends his position as the richest man in the crypto space within the country.

14 people from the blockchain sector in the list are all focusing on crypto miner manufacturers, exchanges, investment institutions.

Three founders of Canaan edged themselves into the list. Ebang’s founder Hu Dong grabbed 684th place with total wealth reaching 6 billion Chinese yuan ($0.84 billion).

Apart from Chinese miner manufacturers, crypto exchanges’ founders are prominent on the list. Chaopeng Zhao, the founder of Binance – world’s largest crypto exchange, was ranked 195th with 18 billion yuan ($2.5 billion) in personal wealth. He is the only one whose ranking in the list has moved up by 35 positions, from the 230th to the 195th compared to the previous report. OKEx’s founder Star Xu, owning 10 billion yuan ($1.4 billion), took the 398th spot on the list; Leon Li of crypto exchange Huobi was listed in 530th place with 7.5 billion Chinese yuan in wealth.

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Xiaolai Li, known as the richest man in China crypto space is not on the list this year. Ge Yuesheng, the 28-year-old executive director and senior investment director of Bitmain, made his name seen on the list for the first time as a post-90s. Perhaps the main reason why the shareholders of Bitmain rank higher is that Bitmain has a high share in the miner market.

Because of its anonymity and liquidity, crypto assets are not easy to be counted like real estate and equity. This list only indicates a part of the development of the Chinese blockchain industry.

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