In the past year, fierce competition among car companies has affected not only the financial reports of companies, but also the wealth of entrepreneurs. On October 29, Hurun Research Institute released the "2024 Hurun Rich List". This year, a total of 1,094 entrepreneurs with per

In the past year, fierce competition among car companies has affected not only the financial reports of companies, but also the wealth of entrepreneurs.

On October 29, Hurun Research Institute released the "2024 Hurun Rich List". This year, a total of 1,094 entrepreneurs with personal wealth of more than 5 billion yuan are on the list, 12% less than last year (147) and 25% less than the peak in 2021 (371). Among them, the wealth of entrepreneurs in the automobile industry has attracted attention.

After sorting through the entire list, a reporter from Nandu Bay Financial News noticed that there were a total of 13 car company entrepreneurs on this year’s list. Among them, the Li Shufu family of Geely Automobile leads the automobile sector with a wealth of 145 billion, ranking 11th in the overall list; followed closely by Wang Chuanfu of BYD , ranking 135 billion in the overall list 16th place; Great Wall Motors 's Wei Jianjun and Han Xuejuan's couple ranked 23rd on the overall list with a wealth of 110 billion.

Li Xiang, founder of Li Auto , became the richest among new power executives with a net worth of 33.5 billion, ranking 132nd overall; He Xiaopeng, CEO of Xpeng Motors , followed closely behind with a net worth of 32 billion, ranking 132nd overall. Ranked 140th on the list; BYD's non-executive director Xia Zuoquan ranked 176th on the list with a wealth of 26.5 billion; Zhang Xinghai and Yan Min, chairman of Xiaokang Holdings, the parent company of Cyrus, ranked 176th with a wealth of 20 billion Ranked 239th on the overall list, Zhang Xinghai’s brothers Zhang Xingli and Zhang Xingming both tied for 618th on the overall list with a wealth of 8.5 billion; Li Bin, the founder of Weilai Automobile , ranked 656th on the overall list with a wealth of 8 billion.

Fan Zheng, non-executive director of Li Auto, ranks 859th on the list with a wealth of 6.3 billion; Wang Nianqiang, executive vice president of BYD, and Yang Longzhong, former senior vice president of BYD, both rank 1019th on the list with a wealth of 5 billion.

It is worth mentioning that the wealth of most entrepreneurs in the automobile sector has shrunk significantly. The wealth of the Li Shufu family fell by 17% (30 billion yuan) compared with last year, ranking 9th in the "Top 10 Most Declined Wealth", and the overall ranking also fell by 2 places; although Li Xiang retained his position as the wealthiest new entrepreneur , but its wealth value fell sharply by 52% year-on-year (36.5 billion), ranking 5th in the "Top 10 Most Declined Wealth", and the overall ranking fell 82 places. Fan Zheng's wealth in the same company shrank by 50%, and the overall ranking fell 388 bits.

Since the deadline for calculating entrepreneur wealth is August 30, Xiaopengmona m03’s turnaround performance after September was not reflected in He Xiaopeng’s wealth value. His wealth shrank by 29%, and his overall ranking fell by 43%. position, fell out of the top 100; Li Bin of Weilai Automobile had the largest decline in wealth, and his overall ranking fell by 331 places.

As one of the few entrepreneurs in the automotive industry with positive wealth growth, Zhang Xinghai, Yan Min and his wife, Zhang Xingli and Zhang Xingming, have rapidly accumulated wealth thanks to the rapid sales growth of the Cyrus and series this year. Among them, the wealth of Zhang Xinghai and Yan Min increased the most by 82%, and their overall ranking jumped from 500 to 239th. Last year, Zhang Xinghai and Yan Min ranked 536th on the Hurun China Rich List with a net worth of 11 billion yuan.

The situation in the automobile sector is just a microcosm. In the overall list, the total wealth of entrepreneurs on the list fell by 10% (2.4 trillion) compared with last year, to 21 trillion yuan. The wealth of 964 entrepreneurs has shrunk or remained unchanged compared with last year, and 201 of them have failed to make the list this year.

Hurun Report, chairman and chief research officer of Hurun Report, said that the entrepreneurs whose wealth has declined the most in the past year mainly come from real estate and new energy-related industries. For example, CATL's Zeng Yuqun fell by 50 billion, mainly because intensified industry competition, export restrictions and macroeconomic uncertainty put pressure on CATL's performance growth. In the first three quarters of this year, CATL’s total revenue was 259.045 billion yuan, a year-on-year decrease of 12.09%. It has declined for three consecutive quarters, but its net profit attributable to its parent company is still rising steadily.

Hurun also pointed out that a total of 39 people in new energy-related industries are on the list this year, 26 less than the peak in 2021. In the past three years, photovoltaic equipment has accounted for half of the decrease in new energy, and lithium batteries have accounted for a quarter of the decrease in new energy.

On the other hand, the unsatisfactory performance of some car companies in the capital market has also had a negative impact on the wealth of their investors. Hurun pointed out that Meituan's Wang Xing fell by 36.5 billion, mainly due to intensified market competition and slowdown in its own business growth. In addition, the stock price of Li Auto, which it invested in, plummeted. The main reasons for the collapse of Li Auto's market value include the failure of the mega project, Li Auto's operating profit losses and competitive pressure from the high-end market.

However, since the country introduced policies to regulate the capital market at the end of September this year, the automobile sector of A-shares and Hong Kong stocks has rebounded sharply. For example, Li Auto-w (2015.hk) has increased by more than 41% since the end of September, Xpeng Motors-w (9868.hk) has increased by more than 44%, Weilai-sw (9866.hk) has increased by more than 35%, and Geely Automobile has increased by more than 41%. (0175.hk) rose by more than 68%, BYD (002594.sz) rose by more than 20%, and Thalys (601127.sh) rose by more than 42%.

Written by: Nandu·Wancaishe reporter Chen Jing'an