Wealth-X has chosen Yang Huiyan, the 34-year-old vice chairman of property developer Country Garden Holdings who has personal wealth of about $6.1 billion, as the richest person in China. (Photo : www.mingtiandi.com)
Nine individuals from China has made it to the top 10 wealthiest millennials in Asia, with only one spot going to an Indian, according to Wealth-X, a research group on wealth intelligence.
Wealth-X rankings showed that the three female in the list of 10 richest Asian millennials, those born between 1981 and 1997, had an aggregate wealth of $10 billion, which makes up 44 percent of the wealth of the top 10.
The top spot in the rankings goes to Yang Huiyan, the 34-year-old vice chairman of Chinese property developer Country Garden Holdings who has personal wealth of about $6.1 billion.
Yang inherited the fortune from her father Yang Guoqiang, who previously owned Country Garden Holdings, making her the wealthiest woman in China in 2005.
The second in rank is Adrian Cheng, vice chairman of Hong Kong-based property developer New World Development Group, who has a personal wealth of $4.4 billion.
An active art collector and supporter of Chinese artists, Cheng joined his family's property development business in 2006, and also set up an artist village, a non-profit arts group in Wuhan as an incubator for young artists.
Kelly Zong, the 33-year-old vice president of Hangzhou Hongsheng Beverage, was listed as the third richest millennial in Asia with a net worth of $3 billion.
According to Wealth-X, out of the 10 wealthiest young people in Asia, seven had inherited their wealth, while three were self-made entrepreneurs.
The three self-made entrepreneurs include He Zhitao, 33-year-old, who ranked fourth on the list with a net worth of $2.7 billion; Lin Qi, 34-year-old, who placed fifth with a net worth of $2.2 billion; and 32-year-old Leo Chen, at sixth place with a net worth of $1.1 billion.
The three Chinese entrepreneurs earned their fortunes in the hi-tech, Internet or e-commerce business in China.
He heads the Hangzhou Liaison Interactive Information Technology as chairman, while Lin set up smartphone gaming provider youzu.com. Chen is the founder of jumei.com, an e-commerce platform for cosmetics transactions.
John Paul Joy Alukkas, 28, from India is the only non-Chinese in the list. He inherited his family's jewelry business to take the eighth place with a net worth of $820 million.
