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Mining Gear Manufacturers Among the Richest in Crypto
(Source: Hurun Research Institute)
In what is now the 20th annual ranking of the richest individuals in China, the Hurun Research Institute released its newest list for 2018. Cryptocurrency bigwigs made it to the list despite the crash in digital currency prices and the government’s crackdown on trading of these assets.
The list, published on October 10, includes at least 13 entrepreneurs whose business is related to cryptocurrency mining and trading. The ranking comprises such industry players as Micree Zhan Ketuan, co-founder of computer chip manufacturer of and software firm Bitmain Technologies. Zhan, the 39-year-old co-founder of the world’s largest chip manufacturer, was also the only one among his industry peers to rank in the report’s top 100 wealthiest people in China, with an estimated wealth of 29.5 billion yuan.
The next highest-ranked cryptocurrency tycoon to Zhan was Bitmain co-founder Wu Jihan, who was listed in the 204th place. Wu has a personal wealth of 16.5 billion yuan and is also the wealthiest self-made billionaire who was born after 1985.
For the first time, the public has gotten more insight into the secretive heads of the world’s largest companies in crypto. Bitmain was not the only company listed in the Hurun report – its rivals Canaan Creative and Ebang International Holdings have also been mentioned. A total of nine individuals from the three companies made it to the Hurun list, including Canaan founder Zhang Nangeng and Ebang founder Hu Dong.
Heads of Crypto Exchanges Among the Youngest Billionaires in China
Entrepreneurs in the cryptocurrency industry that have made the Hurun list
The leaders of the world’s top cryptocurrency exchanges were also featured in the list. Zhao Chang Peng, the founder of Binance was the third highest ranked industry mogul at 230th place. The 41-year-old head of the world’s biggest digital currency exchange by trading volume has an estimated wealth of 15 billion yuan, the report said.
He was followed by fellow Chinese exchange founders Star Xu of OKCoin and Li Lin of Huobi, who are worth 10 and 7 billion yuan, respectively. China’s richest bitcoin billionaire, English teacher-turned venture capitalist Li Xiaolai, shared the 556th place with Li of Huobi, with an estimated wealth of 7 billion yuan.
An interesting fact about this year’s Hurun report is that the list is much shorter than usual. According to the Hurun Research Institute, only 1893 individuals made the cut this year, down 11% from 2130 individuals last year.
However, despite the drop, the number of individuals making the cut of 2 billion yuan is up 89% compared with five years ago. There has also been a notable increase in the number of young people mentioned in the report, with 56 people born after 1985 making the list in 2018.