HURUN REPORT FINDS 46 SELF-MADE BILLIONAIRES IN WORLD AGED 40 & UNDER

USA AND CHINA DOMINATE WITH 21 AND 16, MAKING UP 80% OF THE WORLD’S SELF-MADE BILLIONAIRES 40 & UNDER

WITH US$80BN, MARK ZUCKERBERG, 34, IS WORLD’S NO.1 UNDER 40

SAN FRANCISCO (12), GLOBAL CAPITAL FOR YOUNG BILLIONAIRES FOLLOWED BY BEIJING (9)

FASTEST RISER IS ZHANG YIMING (36) OF NEWSFEED AND SHORT VIDEO PLATFORM BYTEDANCE, WHO SAW WEALTH TRIPLE TO US$14BN

10 NEW FACES, LED BY COLIN HUANG ZHENG (39) OF CHINA ECOMMERCE PLATFORM PINDUODUO WITH US$15BN AND BITCOIN MINER ZHAN KETUAN (40) OF BITMAIN

WITH 34 BILLIONAIRES, TMT ACCOUNTS FOR 77% OF LIST

7 YEARS TO MAKE FIRST BILLION ON AVERAGE

WITH 7 LISTINGS, NASDAQ IS THE PREFERRED EXCHANGE

HURUN REPORT, WORLD’S LARGEST RICH LIST PROVIDER, RELEASES HURUN GLOBAL FORTY AND UNDER SELF-MADE BILLIONAIRES 2019

(29 March 2019, Shanghai, China, and Mumbai, India) Hurun Report today released the Hurun Global Forty and Under Self-Made Billionaires 2019, a ranking of the self-made US dollar billionaires forty years and under currently found in the world. Wealth calculations are a snapshot of 31 January 2019.  This is the fourth year of the ranking and is a sub list of the Hurun Global Rich List, released on 26 February.

With US$80bn, Mark Zuckerberg, 34, from Facebook tops the list, followed by Dustin Moskovitz of Facebook and Huang Zhang of Pinduoduo.

·         John Collison (28) of Stripe and Evan Spiegel (28) of Snapchat are the youngest billionaire with US$2.6bn and US$1.7 respectively.

·         With 12 billionaires, San Francisco is the preferred city of residence followed by Beijing with 9 billionaires

·         Average age of list is 36 years

Rupert Hoogewerf, Chairman and Chief Researcher of Hurun Report, said, “2019 is the first time that China has overtaken the USA when it comes to young billionaires.” (US tops under 40 list)

Table 1: Top 10 Hurun Global Rich List – Forty and Under Self-Made Billionaires 2019

↑ Rank increase yoy ↓ Rank decrease yoy - No Rank change yoy * New to Top 10

Source: Loong Palace·Hurun Global Rich List 2019

Mark Zuckerberg, 34, remains the richest billionaire in the world under the age of 40, with US$80bn. Zuckerberg launched out aged 19, and took five years to become a dollar billionaire on paper. Facebook currently has a market capitalization of almost US$500bn, of which Zuckerberg owns about 14%. The company saw a dip in its share price last year after the Cambridge Analytica scandal broke out but has since managed to steady its value.

With US$15bn, Dustin Moskovitz, 34, co-founded Facebook with then-roommate and Harvard University student Mark Zuckerberg, retained the second spot.  Most of his wealth comes from his 3% stake in Facebook. He is an active investor and has co-founded software company Asana. Moskovitz built a philanthropic foundation called Good Ventures along with his wife which focuses on marital well-being and healthcare.

Colin Huang Zheng (39) made his first billion after just two years of founding Pinduoduo, the fastest to a billion in the world, faster than Zuckerberg’s five years and much faster than Jeff Bezos. Huang shot straight into the Top 100 of the Hurun Global Rich List, at 73^rd, and second in the Under Forty list. Founded in 2015, Pinduoduo listed in the US after just three years of operation and today has over 400 million active buyers.

Zhang Yiming of ByteDance, 36, all but tripled his wealth to US$14bn and fourth on this Under Forty list. ByteDance has grown to become the world’s largest unicorn after Jack Ma’s Ant Financial, with a valuation today of US$75 billion, overtaking Baidu. Starting out with newsfeed app Toutiao, ByteDance has since expanded to short video apps Tik Tok and Musical. Ly, focusing not just on China but on the rest of the world.

Most of Eduardo Saverin’s wealth is from his stake in Facebook, bringing him US$9.8bn and fifth place in the Under Forty list. Today, Singapore-based Saverin is a venture capitalist and has co-founded B Capital Group, which actively invests in budding entrepreneurs.

Mike Cannon-Brookes & Scott Farquhar, 39, of Sydney-based software firm Atlassian, each saw their wealth jump by 68%, shooting them into the Under Forty Top 10 with US$6.7bn each.

Frank Wang Tao, 39, of drone and robotics maker DJI, ranked 6^th in the Hurun Global Under Forty list with US$6.7bn. Shenzhen-based DJI dominates the consumer drone market, but has struggled to push beyond.

Robert Pera, 40, of Ubiquiti Networks, a global communications technology company that manufactures wireless data communication products for enterprises, came in sixth with US$6.7bn. Pera owns the Memphis Grizzlies, an American professional basketball team.

Adam Neumann, 39, of WeWork, saw a spectacular 103% rise in his wealth to bag the tenth spot with US$6.5bn. Neumann is an investor with stakes in cannabis company InterCure and start-up EquityBee.

Where they live.

By country, USA tops the list with 21 billionaires under 40 years, followed by China (16).

Table 2: Self-made Billionaires Under 40 by Country

↑ Rank increase yoy ↓ Rank decrease yoy - No Rank change yoy

Source: Loong Palace·Hurun Global Rich List 2019

By city, San Francisco leads with 12, followed by Beijing with 9 billionaires. Garrett Camp from Uber is the richest young billionaire in San Francisco.

Table 3: Under 40 self-made Billionaires by City

↑ Rank increase yoy - No Rank change yoy * New to Top 5

Source: Loong Palace·Hurun Global Rich List 2019

Average time to make the first billion: 7 years.

Table 4: The “Fastest to a Billion”

Source: Loong Palace·Hurun Global Rich List 2019

Points of interest

·         21-year-old Kylie Jenner of the Kardashian-Jenner family, a reality star who founded US$300mn revenue cosmetic company Kylie Cosmetics in 2015 is a strong contender to replace John Collison as the youngest self-made billionaire. Hurun Report currently values her at US$900mn.

·         A large chunk of the Under 40 billionaires made their wealth through internet-related products. Brands like Facebook, Instagram, Snapchat, Pinterest, Dropbox, Spotify etc., all appeal to a younger generation, providing them a platform to share ideas and opinions.

·         8 have emigrated, the richest being Brazilian Eduardo Saverin of Facebook, who lives in Singapore today.

·         2 women make the list.

·         Irish-born brothers John (28) and Patrick Collison (30) are the youngest Self-made billionaires in the world. The duo founded the start-up Stripe that facilitates online payment for businesses. In 2018, a US$245mn funding round led by Tiger Global Management valued the company at US20bn, more than double its previous year valuation. 

·         Adam Neumann co-founded WeWork, a communal working space which was the first of its kind when it came out in 2010. He is the only real estate billionaire in the list with his company valued at US$42bn.

Industry wise classification of Billionaires

TMT has produced the most billionaires with 34 billionaires and tops the list

Table 5: Under 40 self-made Billionaires by industry

- No Rank change yoy

Source: Loong Palace·Hurun Global Rich List 2019

Self-Made Under 40 Billionaires

Table 6: Self-Made Score Card and Percentage of Under 40 Self Made billionaires and top countries

Source: Loong Palace·Hurun Global Rich List 2019

Table 7: Hurun Global Rich List – Self-made & Under Forty

Source: Loong Palace·Hurun Global Rich List 2019

Table 8: Hurun Global Rich List – Inherited & Under Forty

Hurun Report has separately listed the Top 40 Under Forty, who inherited their fortune. Germany, China and the USA led the way.

Source: Loong Palace·Hurun Global Rich List 2019

Stats

About Hurun Report Inc.

In 2019, Hurun Report will host the three-day Hurun Young Global Leaders Innovation Era event in Shenzhen from September 19 to 21, inviting unicorn founders to meet with young entrepreneurs. On the second day, Hurun Report will recognise the most successful entrepreneurs under 30. Nominations are welcome.

Established in 1999 by British accountant Rupert Hoogewerf, Hurun Report Inc. has grown into a leading research platform based in Shanghai and Mumbai, best-known for its China and India rich lists, and with 150 employees today. Hurun Report Inc. has four main divisions.

Hurun Research Institute ‘World’s Largest Rich List Provider’

2019 marks the 20^th anniversary of Hurun Report, highlighting the fastest wealth creating period in the history of the world.

The Hurun Richest Self-Made Women in the World has been highlighting for over ten years the fact that over 70% of the world’s most successful women in business herald from China, ie Chinese are completely dominant in the world of women in business. This has changed the way the world looks at Chinese women in business.

The Hurun China Philanthropy List ranks the most generous individuals in China and is now in its 15th anniversary.  With no inheritance tax, Chinese give much more generously than many have previously understood. 

Two recent lists with an impact include the Hurun China Unicorn Index, ranking the most dynamic businesses with a valuation of US$1bn or more in China; and the Hurun Most Successful University Alumni.

In India, Hurun Research has launched the Hurun India Rich List for the seventh time last year, and has an active events business there.

‘World Authority on the Chinese High Net Worth Individual’

Recent research partners include financial institutions (PingAn, Bank of China, Taikang Life, Minsheng, Citic), local government (Shanghai, Changbaishan) and Global 500 multinationals (Marriott, Country Garden, Agile, Audi, Volvo).

Three breakthrough lists this past year: Hurun Good Doctors’ List, a ranking of the 9500 most respected doctors in China, broken down by region and speciality; Hurun Best International Schools List; and Hurun Creative Works Intellectual Property List, in Search of the Harry Potter of China, ranking those online novels with the most valuable IPs.

The Hurun Art List ranks the top artists alive today in China for the 12th year and has become a household name amongst artists.

Media and Events ‘The Hurun brand gets 200 million views a month in China’ and 100 million views across the rest of the world a month

The Hurun brand has become one of the few non-Chinese media brands to become a household name across China.

Hurun Media monetizes 1 million views a month in China, through its wechat, weibo, website and legacy magazine.

Recent themed events include blockchain, fintech and 30 under 30, with industry-respected awards. We deliver 100+ events a year in China, with 200 entrepreneurs from the Hurun China Rich List attending.

Hurun Report kicked off the world's largest Chinese New Year dinner series in Shanghai on January 16, and went to 8 cities across 4 continents. Toronto on Jan 20, New York Jan 23, LA Jan 25, London Jan 28, Istanbul Jan 29, Luxembourg Jan 31 and ending up in Sydney on Feb 18. Hurun Report’s mission is to create the world's largest platform of China gatekeepers.

Investments

Hurun Investments has a portfolio of 20 companies with a market value of US$50 million, with investments into tech, media, design, education as well as a vintage car race and a tailor.

The number "20" is integrated into the Chinese character ‘谊’ pronounced 'yi', meaning 'friendship', symbolizing how building friendships is at the core of how Hurun Report does business with its partners.

For further information, see www.hurun.net

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