Chinese make up nine in 10 of Asia’s richest ‘millennials’, aged 18-34

Chinese make up nine in 10 of Asia’s richest ‘millennials’, aged 18-34
Indian jewellery magnate rounds out the list, which is notable too for the presence of three women and for the fact seven of the 10 inherited their wealth

Jessie Lau

Asia's richest millennials
Three of the nine Chinese in the top 10 are women, with real estate heiress Yang Huiyan taking the No. 1 spot. China now has over 200 billionaires. Photos: SCMP Pictures

Rich individuals from China claimed nine of the spots on a list of Asia’s 10 wealthiest millennials issued by Wealth-X, a wealth intelligence consultancy firm.

The term millennials refers to those born between the years 1981 and 1997. Three of the nine featured on the list are women from China, who have a combined wealth of approximately US$10 billion, about 44 per cent of the top 10’s total wealth, the firm’s report said. Two on the list are from Hong Kong, while the rest are from mainland China.

Of the 10, 3 made their own wealth; the only non-Chinese millennial is indian.

In recent years, China’s rising billionaire class has created a second generation of wealthy millennials. In Forbes’ 2015 China Rich List, 213, or about 57 per cent of all ethnic Chinese billionaires in the world, came from mainland China. Mainland Chinese businesspeople have also increased their wealth by more than 20 per cent annually in the past three years. Five of the 10 richest on the Forbes list were from mainland China, and four were from Hong Kong.

The 10 wealthiest millennials in Asia:

Asia's richest millennials1
Yang Huiyan.

1. Yang Huiyan

Yang, 34-year-old vice-chairman of real estate developer Country Garden Holdings, tops the list with an estimated net worth of US$6.1 billion. She became mainland China’s richest person in 2007 when she received 70 per cent of her father Yang Guoqiang’s holdings at the age of 25. After graduating with a degree in marketing and logistics from Ohio State University in the United States, Yang joined the company as purchasing manager in 2005 before being promoted to executive director a year later.

Asia's richest millennials2
Adrian Cheng.

2. Adrian Cheng Chi-kong

Cheng, a descendant of one of Hong Kong’s richest families, recently became executive vice-chairman of New World Development – a Hong Kong conglomerate that deals in infrastructure, property, transport, retailing and telecommunications. The 34-year-old is the son of Henry Cheng Kar-shun, and has served as the company’s executive director and joint general manager since 2012. A graduate of Harvard University, he is estimated to be worth US$4.4 billion.

Asia's richest millennials3
Zong Fuli.

3. Zong Fuli

Zong is the 33-year-old daughter of beverage tycoon Zong Qinghou, who according to Forbes has a net worth of about US$11.6 billion. With an estimated wealth of about US$3 billion, she’s president of her father’s company Hangzhou Wahaha Group, China’s leading food and beverage producer, which makes soft drinks, baby formula, food and more. She graduated from Pepperdine University in the US in 2004.

Asia's richest millennials4
He Zhitao.

4. He Zhitao

A self-made billionaire, 33-year-old He Zhitao is CEO of Hangzhou Liaison Interactive, an IT company selling and developing internet services and products. Having founded the Hangzhou-based company in 2002, he has an estimated fortune of US$2.7 billion. The company has a market capitalisation of 35.6 billion yuan, according to data compiled by Bloomberg.

Asia's richest millennials5
Lin Qi.

5. Lin Qi

The 34-year-old entrepreneur is chairman of Youzu Interactive, an online and mobile entertainment company that specialises in game development and distribution. Lin, who has an estimated net worth of US$2.2 billion, established his Shanghai-based company in 2009. Youzu interactive has a market capitalization of 25 billion yuan, according to data compiled by Bloomberg.

Asia's richest millennials6
Leo Ou Chen

6. Leo Ou Chen

Chen, 32, is co-founder, CEO and chairman of Jumei International Holding Ltd, a Chinese online retailer of beauty products. Worth an estimated US$1.1 billion, Chen obtained a masters in business administration from Stanford University in 2009 after graduating with a bachelor’s degree in computer science from Singapore’s Nanyang Technological University in 2005.

Asia's richest millennials7
Yan Wu.
7. Yan Wu

Wu is chairman of Hakim Information Technology, a Hangzhou-based company that provides IT services. She is 34 years old, and has an estimated net worth of US$860 million. According to data compiled by Bloomberg, the company has a market capitalisation of 12 billion yuan.

Asia's richest millennials8
John Paul Joy Alukkas.

8. John Paul Joy Alukkas

Alukkas 29, is executive director of the Joyalukkas group, a jewellery conglomerate based in India. Alukkas, the son of Joy Alukkas and the only non-Chinese millennial on the list, is estimated to be worth US$820 million.

Asia's richest millennials9
Zhang Kangli.

9. Zhang Kangli

Zhang is the son of Zhang Guiping, chairman of real estate company Suning Universal. Currently director of the firm, Zhang is 34 years old and has an estimated fortune of US$710 million. He graduated from the University of Toronto with a master’s degree in human resource management and economics.

Asia's richest millennials10
Zhu Yufeng
10. Zhu Yufeng

The 34-year-old is the executive director of his father’s company GCL-Poly Energy Holdings, the world’s largest maker of polysilicon used in solar power panels and silicon wafers. He has an estimated wealth of US$660 million, and graduated from George Brown College in Ontario, Canada, in 2005.

PUBLISHED : Tuesday, 21 July, 2015, 4:44pm
UPDATED : Tuesday, 21 July, 2015, 5:50pm

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Global CEO-Founder of ChangeU and Movsha Movers & Shakers, Hero-CEO Whisperer, Writer, The #1 Alpha Change Expert, Father of Asian FireWalking Robert Chaen is an International Keynote Speaker, writer, researcher, and corp games designer. He is famously known to be the “Hero-CEO Whisperer”, 1-on1 coaching with many CEOs and Celebrities for corporate strategies, staff & office political issues, personal branding, and even public figure OSHA safety drilling called Drager Defense. He has transformed CEOs and managers in Coca-Cola China, TVB Hong Kong, Cathay Pacific, Hong Kong Airport Services, VADS, TM, Public Bank, Auditor General's Office Maldives, etc. He is the prolific creator and online Author of innovative management tools such as DragonCEO, Diamond Leader, Papillon Personal Effectiveness, OSHA Drager Defense, KPI Bank, etc. He is also the Founder of Movsha, an international networking with monthly mingles with MOVers & SHAkers, Angels, Entrepreneurs, CEOs, Celebrities, HR-PR-CSR, HODs, and the Most Influential IDEA people. ​Chaen is widely considered as one of the top International Platform Keynote Speakers for Resorts World Genting Senior Management Conference (Manila), 7-Eleven HK, Samsung, Coca-Cola China Mini-MBA @Tsing Hua University, Cathay Pacific, Hong Kong Jockey Club, The Story Conference where he interviewed Datuk Kamarudin (Chairman of AirAsia) and Siti Nurhaliza. He has been widely featured in TVB, AWSJ, CNBC, SCMP, The Star, and Sin Chew. As “The Father of Asian FireWalking”, he coached TVB celebrities (Ekin Cheng Yee-Kin) to walk on 650°C fire; and raised HK$68M in the world’s 1st and only live TV Charity FireWalk (TVB Tung Wah Charity Show), before Tony Robbins even came to Asia. If Robert can get you to walk on 650⁰C fire, he can inspire you to be THE BEST. He champions CN-HK-EU-US Tycoons to be philanthropic, and to be angel investors to support the next generation of Jack Mas, Steve Jobs, Richard Bransons, Steven Spielbergs, or Barrack Obamas. With some slick motivational speakers with fake doctorates out there, graduates often describe Robert to be "the most credible, empowering, truthful Coach" who believe in his graduates to believe in themselves. ​However, clients have described Robert as "The #1 Cool Badass Alpha Change Expert". He has the coolest first class stature, rapport and trust from clients. He will not hesitate to tell the badass truth ever so gently because clients are paying him big bucks to reveal the truth, find solutions, persuade the hostile HODs, and align cross-teams within the organization. Originally based in Hong Kong for 20+ years, he had worked with top Branding/Ad agencies at J Walter Thompson and Leo Burnett, and was a certified FranklinCovey (7 Habits) in USA, and NLP MasterCoach (USA). His warmth is known to soften the most hardened, resistant sceptics. He will inspire your team to Go for Top 1, or to be a Dragon CEO. With boundless energies, Robert owns 15+ successful business Joint-Ventures, and created unique products under his global VC network called Chaen's Angels VC. He is deeply passionate about ChangeUTH Youth CSR, Science-Based Medicine (vs. quackery), short films and Reality TV. Touched by a personal tragedy through the loss of his HK-born Portuguese wife, co-coach and business partner, Brenda José of 18 years, Robert explores the many ways in which the spirit world is communicating with the living with real scientific studies and evidence. He gives inspiring conferences on The Secret Afterlife.

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