(Yicai) Nov. 8 -- Zhong Shanshan, founder of beverage giant Nongfu Spring, is the wealthiest person in China for the fourth straight year with a fortune of USD50.8 billion, despite his fortune shrinking USD9.3 billion due to fierce competition in China's bottled water sector, according to the 2024 Forbes list of China’s 100 Richest.

Pony Ma, chairman of internet titan Tencent Holdings, roared to second place, a position last held in 2020, with the biggest wealth surge, according to the ranking released by the US business magazine on Nov. 6. Ma’s fortune swelled 43 percent to USD46.8 billion on the back of a 49 percent leap in Shenzhen-based Tencent’s share price thanks to a strong performance in gaming, streaming and advertising.

Zhang Yiming, founder of TikTok operator ByteDance, slipped to third with USD45.6 billion, while Colin Huang, founder of e-retailer Pinduoduo, added USD7.7 billion to rank fourth with USD43.9 billion.

In the healthcare sector, Biokin Pharmaceutical Chairman Zhu Yi's wealth more than doubled to USD8.2 billion after its unit SystImmune secured a USD8.4 billion deal with US drugmaker Bristol Myers Squibb.

The rankings welcomed eight newcomers, including three co-founders of gaming firm miHoYo, namely Cai Haoyu, Liu Wei, and Luo Yuhao. Wang Ning, founder of toy maker Pop Mart, also made the cut following robust international growth.

42-year-old Zong Fuli, daughter of the late Hangzhou Wahaha Group founder Zong Qinghou, became the youngest among 11 women on the list. Chen Tianshi, chairman of AI chip developer Cambricon Technologies, returned at No. 46 with USD7.27 billion amid the AI boom.

Yang Huiyan, chairwoman of troubled property developer Country Garden Holdings, dropped off the list after the Shunde-based firm halted trading on the Hong Kong bourse in April.

The combined wealth of China's richest entrepreneurs rebounded to USD1 trillion, as Beijing's economic stimulus measures bolster market confidence amid ongoing reforms.

The collective fortune of China's top 100 wealthy individuals jumped 15 percent from USD895 billion a year earlier, with the entry threshold rising to USD3.9 billion from USD3.4 billion, according to the latest Forbes ranking. The benchmark CSI 300 Index gained 12 percent during the period.

Editor: Kim Taylor