Temat: Baidu CEO Tops 2008 Hurun China IT Rich List November 28,...

Baidu CEO Tops 2008 Hurun China IT Rich List
November 28, 2008

According to the 2008 Hurun China IT Rich List published on November 26, 2008 in Hangzhou, Li Yanhong "Robin", CEO of the Chinese Internet search engine Baidu.com (BIDU), topped the list with net worth of CNY13 billion, followed by founder of Tencent Ma Huateng and founder and CEO of NetEase (NTES) Ding Lei with CNY12.5 billion and CNY9.8 billion, respectively.

This year's China IT Rich List listed the 50 richest Chinese in the IT industry. Their total assets were CNY156.3 billion and the average assets were CNY3.13 billion. Compared with that of 2007, the wealth of the Chinese IT rich in 2008 shrunk by 13%. According to the Hurun China IT Rich List for 2007, the total assets of the 50 richest Chinese in the IT industry at that time were CNY180.4 billion and their average assets were CNY3.61 billion.

Following the top three, there are the Chen Tianqiao family from Shanda, Shi Yuzhu from Giant Interactive Group, Wang Wenjing from UFIDA Software and the Jack Ma family from Alibaba.com. In addition, Zhang Chaoyang, founder and CEO of Sohu.com climbed from twenty-second last year to the eighth place with CNY4.8 billion, marking his return to the top ten.

Fifteen new faces appeared in this year's Hurun China IT Rich List, including the Meng Qingnan family, owner of Wuhan Fingu Electronics Technology.

However, a dramatic change appeared just after the publication of the list. Because of the consecutive fall of Baidu's share price in recent days, Li did not stay long at the top of the list. According to Hurun's share price statistics by September 24, 2008, the Li's wealth decreased from CNY13 billion to only CNY4.5 billion and Tencent's Ma replaced him as the richest person in China's IT industry with personal assets of CNY8.3 billion.

http://www.chinatechnews.com/2008/11/28/8127-baidu-ceo...