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These Are China’s Youngest Billionaires

What’s on Weibo explores who the richest kids of mainland China are: a top 10 of China’s youngest billionaires, according to the Forbes List of the World’s Billionaires.

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After inheriting a fortune from her father, the 19-year-old Alexandra Andresen has been named the youngest billionaire on the globe by the Forbes World’s Billionaire List. Forbes has got Weibo talking about money.

The teenage girl Alexandra Andresen from Norway is worth an estimated 1.2 billion US$ according to the Forbes billionaires list. The young rich woman became trending on China’s social media site Sina Weibo under the title of ’19-year-old girl becomes world’s youngest multi-millioniare’ (19岁少女成世界最年轻亿万富翁).

In light of this news, What’s on Weibo explores who the richest ‘kids’ of mainland China are: a top 10 of China’s youngest billionaires, according to Forbes’ World’s Billionaires.

No. 1 – Wang Han (王瀚, 28 years old): 1.3 billion US$

chinasyoungestbillionaires

At just 28 years, Wang Han became one of the world’s youngest billionaires – he is number 7 in the international top 10. Wang became a billionaire after inheriting shares in regional airline Juneyao Air (吉祥航空有限公司) from his late father Wang Junyao (王均瑶), who was the founder. According to Forbes,
Wang Han owns 27% of the airline and 14% of department store Wuxi Commercial Mansion Grand Orient (无锡商业大厦大东方股份有限公司). The Juneyao Group also has businesses in the education and food sector. They are also active on social media; Juneyao also has a rather large fanbase on its Weibo account.

No. 2 – Wang Yue (王悦, 32 years old): 1.1 billion US$

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Wang Yue is a newcomer to the list of the world’s youngest billionaires, according to Forbes 2016. He is called China’s “web game billionaire”. Wang earned a fortune being an online and mobile game entrepreneur. He is the CEO of Shanghai Kingnet Technology (上海恺英网络科技有限公司), better known as Kingnet (恺英网络).

No. 3 – Cheng Wei (程维, 33 years old): 1 billion US$

chengweiwhatsonweibo

Cheng Wei (程维, 1983) is CEO of China’s Uber rival Didi Kuaidi (滴滴快滴), a transportation company which was formed in early 2015 as a merge of Cheng’s company Didi Dache and Alibaba’s Kuaidi Dache. Previous to starting his own company, Cheng worked for Alibaba for 8 years and became vice president for Alibaba’s online payment service Alipay. Cheng has a verified Weibo account, but he has not posted much since his rise to fame.

No. 4 – Yang Huiyan (杨惠妍, 34 years old): 4.9 billion US$

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Born in 1981, Yang Huiyan from Guangdong’s Foshan is one of the world’s richest women. She became the largest shareholder of real estate developer Country Garden Holdings (碧桂园集团) after her father transferred his holdings to her when she was just 25 years old (also see the featured image). According to its official website, Country Gardens is “a company constantly fighting for the development of a harmonious society.”

No. 5 – Frank Wang Tao (汪滔, 35 years old): 3.6 billion US$

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Wang Tao, also known in English as Frank Tao or Frank Wang, is the founder and CEO of Shenzhen-based DJI, the world’s largest supplier of civilian drones. Forbes describes him as “the world’s first drone billionaire”. Headquartered in China’s “Silicon Valley” Shenzhen, DJI started as a single small office in 2006, and has now turned into to a global workforce of over 3,000. Their offices can be found in the United States, Germany, the Netherlands, Japan, Beijing and Hong Kong (dji.com).

No. 6 – Zhang Bangxin (张邦鑫, 35 years old): 1.01 billion US$

zhangbang

Who ever thought after school tutoring could make you rich? Zhang Bangxin (1980) is the cofounder, chairman and CEO of the Beijing-based educational tutoring firm TAL Education Group (世纪好未来教育科技有限公司). The company has been around since 2003, and it provides after-school tutoring for pupils from kindergarten to 12th grade at over 500 locations throughout China. Zhang is also an official Weibo microblogger, but, like his fellow billionaires in this list, he might be too busy making money to actually post on social media.

No. 7 – Cai Xiaoru (蔡小如, 36 years): 1.2 billion US$

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Cai Xiaoru is chairman of Tatwah Smartech (达华智能), a company that is specialized in the research, development, manufacture and distribution of radio frequency identification (RFID). The company produces, amongst others, non-contact IC cards and electronic labels. Cai became a billionaire in mid-2015, following the fast-growing stock price of Tatwah Smartech.

No. 8 – Li Weiwei (李卫伟 aka 李逸飞, 37 years): 1.3 billion US$

37wan

For Li Weiwei, it is all work and all play. The young entrepreneur, who was born in Chengdu city, is the vice chairman of online game company Wuhu Shunrong Sanqi Interactive Entertainment Network Technology (芜湖顺荣三七互娱网络科技股份有限公司). The company is better known under the name of 37wan, a platform that offers high-quality game products. Li Weiwei is also known as Li Yifei (李逸飞).

No. 9 – Zhou Yahui (周亚辉, 39 years): 2 billion US$

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Another billionaire who got rich through the gaming industry is Zhou Yahui (1977) – the CEO of Beijing Kunlun Tech (北京昆仑万維科技股份有限公司). Kunlun Tech is one of China’s biggest web game developers and operators. In January of 2016, NY Times reported that the company paid $93 million for a 60% stake of Grindr, the largest social networking app for gay men in the world. With over 2 million daily users in 196 countries, the app has proven to be a good investment for Zhou.

No. 10 – Wu Gang (吴刚, 39 years old): 1.3 billion US$

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Wu Gang is co-founder and CEO of money management company Beijing Tongchuang Jiuding Investment Management (北京同创九鼎投资管理股份有限公司), better known as JDcapital (九鼎投资), “a leading investment firm with deep roots in equity investment and management”, as it describes itself.

On Weibo, some netizens have asked Norwegian billionaire Alexandra Andresen to come and visit China. With so many other billionaires, the young heiress will certainly have no reason to feel lonely at the top in China.

– By Manya Koetse

Sources:
*163 (2015): http://news.163.com/15/1104/14/B7J6UOEO00014AED.html
*Jiangsu.China.com (2015): http://jiangsu.china.com.cn/html/jsnews/gnxw/2758273_2.html
*Forbes.com (various pages, see in-text links) and the China Rich List sorted by age.

Images:
Featured: Yang Huiyan (http://blog.sina.com.cn)
http://www.ittime.com.cn/news/news_10433.shtml
http://www.eeyy.com/jinjing/2014/
http://uk.china-info24.com/british/tic/ht/20150729/200775.html
http://baike.baidu.com/view/880927.htm
http://startupbeat.hkej.com/?author=12
http://www.cyzone.cn/a/20131114/247015.html
http://money.163.com/15/1216/07/BAULIVAD00252G50.html
http://www.laonanren.com/news/2015-11/104275.htm
http://www.forbes.com/profile/zhou-yahui-1/
http://www.gsm.pku.edu.cn

©2016 Whatsonweibo. All rights reserved. Do not reproduce our content without permission – you can contact us at info@whatsonweibo.com.

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Manya Koetse is the editor-in-chief of www.whatsonweibo.com. She is a writer and consultant (Sinologist, MPhil) on social trends in China, with a focus on social media and digital developments, popular culture, and gender issues. Contact at manya@whatsonweibo.com, or follow on Twitter.

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China Celebs

Alleged Accuser in Richard Liu Case: “This Has Nothing to Do with Me”

The woman became an overnight celebrity when dozens of her private photos went viral in connection to the Richard Liu case.

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Jiang Pingting became an overnight celebrity when dozens of her glamorous private photos went viral on Weibo, with strong rumors suggesting she was the woman accusing Chinese billionaire businessman Richard Liu of rape. She has now come forward denying these claims.

Ever since news has come out on the brief arrest of JD.com CEO Richard Liu (刘强东) in Minneapolis last weekend, the mug shot and arrest of the Chinese tech mogul have been a major topic of discussion on Chinese social media.

Liu was arrested on August 31st in connection to a suspected rape, after he had dinner with a group of people at a Japanese restaurant during his business trip in the USA.

Photos of the night show that a woman is seated next to Liu, with Chinese netizens and media alleging that this woman is the Chinese exchange student who accused Liu of assaulting her after the banquet.

Footage show Liu and a female sitting next to him on the night of his brief arrest.

Although Liu was released without charges the next day (status: “released pending complaint”) with JD.com officially stating that all accusations were “false,” the case continued to ignite rumors. Many netizens sided with Liu and claimed that he had been “trapped.”

One particularly strong rumor concerned the identity of the female student accusing Liu, with dozens of photos of a young, curvy woman going viral in connection to this case.

One person spreading photos of the supposed accuser is the internet celebrity Luo Yufeng (@罗玉凤), better known as Sister Feng, who has a fanbase of more than 9 million Weibo users.

“Many private photos have been exposed of the woman involved in the Richard Liu case,” she posted: “She has a big bosom and she looks hot.”

The many photos making their rounds on Chinese social media for the past days show the woman going out for dinners, relaxing on the beach, or posing while golfing.

The photos soon became popular on Weibo, with people comparing the woman with Richard Liu’s wife Zhang Zetian (章泽天).

Left: Liu’s wife Zhang and right the woman who allegedly accused Liu.

Rather than discussing the alleged rape case, many netizens seemed more concerned with the appearance and life-style of the woman, and how her body shape compares to Liu’s wife.

The female, a yoga fanatic named Jiang Pingting (蒋娉婷), became an overnight celebrity.

But now, days after her name and photos were first connected to the case, she has issued a statement on her Weibo account saying:

I am Jiang Pinting! The fact that several large media websites, without verifying, have distributed my personal details and photos assuming I am the female involved in the Richard Liu Minneapolis arrest case, has greatly impacted my reputation and has invaded on my personality rights.”

She further states that her personal life has been turned upside down by the incident.

Since 2010, Jiang writes, she has been residing in Singapore and only recently returned to mainland China. Jiang states:

I do not know Richard Liu at all. We have never met. I’ve not even been to the US recently. This incident has absolutely no connection to me.”

It is not clear why Jiang was brought in connection with the case in the first place.

Some people are critical as to why Jiang only responded to the rumors days after they first went viral. “You first waited to become famous before refuting the rumors,” one person wrote.

“I still think you’re hot,” some among thousands of commenters wrote.

By Manya Koetse

Spotted a mistake or want to add something? Please let us know in comments below or email us.

©2018 Whatsonweibo. All rights reserved. Do not reproduce our content without permission – you can contact us at info@whatsonweibo.com.

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China Celebs

Richard Liu’s Minnesota Mug Shots Go Viral on Weibo

The tech mogul’s arrest is a major topic of discussion, many netizens side with Richard Liu.

Gabi Verberg

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The arrest of JD.com CEO Richard Liu, of China’s most powerful tech moguls, has made international headlines and is dominating trending topics lists on Chinese social media.

With over 370 million reads, the hashtag ‘Liu Qiandong Mugshot’ (#刘强东被捕照片#) is a major hot topic on Weibo this week.

On Friday night, August 31, Richard Liu (刘强东), was arrested in Minneapolis for alleged sexual misconduct case involving a university student.

Liu is the founder, chairman, and executive of JD.com (京东). With more than 300 million active users, it is China’s second-largest e-commerce firm after Alibaba.

According to Forbes, Liu has a net worth of approximately $7.9 billion, making him the 18th wealthiest person in China in 2017.

A day after his arrest, Liu was reportedly released without bail. John Elder, the spokesman for the Minneapolis Police Department, stated they are treating the case as an active investigation, but that no formal complaint was filed.

A statement released on JD.com’s official Weibo account on September 2nd said:

During the US business activities, Mr. Liu Qiangdong has been falsely accused. The local police investigation has found no substance to the claim and Liu will continue his business activities as originally planned.”

As Liu’s mugshot has gone viral around the world, he has become a number one topic of conversation. Despite the major international attention for the billionaire’s arrest, many Chinese netizens do not believe Liu is guilty.

“I feel like brother Liu has been set up! I don’t believe any of it!”, one Weibo comment said, receiving nearly three million likes.

“I don’t buy it! My first reaction is; somebody who can control such a big company surely can control his lower body. I think it is more likely that he has been set up,” another typical comment read.

As online discussions run wild, there are strong online rumors on who the woman is who allegedly ‘falsely’ accused Liu for sexual misconduct, with netizens spreading photos of the supposed “instigator.”

It is not the first time Liu’s name comes up in an incident involving sexual misconduct. In 2015, the billionaire tried to distance himself from a sexual assault case that had taken place during a party in his penthouse in Australia.

The New York Times reports that a guest at his party, named Longwei Xu (徐龙威), was found guilty for having sex with a woman without her consent. Liu was not charged in the case, but the tech mogul still tried to have his name removed from the official documents regarding the matter.

By Gabi Verberg

Spotted a mistake or want to add something? Please let us know in comments below or email us.

©2018 Whatsonweibo. All rights reserved. Do not reproduce our content without permission – you can contact us at info@whatsonweibo.com.

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What’s on Weibo provides social, cultural & historical insights into an ever-changing China. What’s on Weibo sheds light on China’s digital media landscape and brings the story behind the hashtag. This independent news site is managed by sinologist Manya Koetse. Contact info@whatsonweibo.com. ©2014-2018

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