Forbes China Rich List: Jack Ma drops, Pony Ma takes second place and Evergrande's Xu Jiayin comes top

Alibaba’s Jack Ma has slid down to third richest person in China despite an increase of over 30% in his net worth, which now totals $38.6bn.

Meanwhile, Pony Ma, CEO of Tencent, took over as second richest in China with a 60% increase in his fortune. This now totals $39bn.

All this is according to Forbes’ newly released China rich list, which names real estate tycoon Hui Ka Yan as the most valuable person in the country.

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Hui is known popularly as Xu Jiayin and is chairman of the China Evergrande Group. The 59-year-old’s fortune increased four-fold last year and now totals $42.5bn.

The company’s stock prices rose significantly in the past year. Evergrande’s profits, according to Forbes, grew nine0fold in the first hald fo the year from residential and office projects.

Meanwhile, Wang Jianlin, chairman of Dalian Wanda, has dropped to fourth place in the rankings.

Another interesting change is the inclusion of one woman in the top ten. Yang Huiyan is a 36-year-ld real estate developer. She is also one of the youngest, with only four people under 40 in the top 100 list which has an average age of 55.

Yang is currently said to be worth £20.7bn and owns 57% of the real estate development company, Country Garden Holdings.

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