China can easily be described as being in the forefront of technology and a leader in economic transformation. According to a report by the WEF, Chinese openness to technology has enabled their growth and success.
What China has proved is that technology, although slow and costly is a great investment and instrumental to economic growth and poverty eradication. Tech-founders have contributed in no small part to China’s success and if Africa wants to achieve similar growth its entrepreneurs must turn to technology innovation as well.
Here is a list of the richest (according to Forbes) Chinese Technology entrepreneurs that we believe African startups should borrow a leaf from.
1. Jack Ma Net worth $ 28.8 Billion
Jack Ma built e-commerce firm Alibaba into a behemoth. Its IPO in New York in 2014 set a record as the world’s biggest public stock offering. The company has made a swath of deals in recent years, investing in movies like “Mission Impossible – Rogue Nation,” creating a sports division with Chinese partners and forming an online portal with U.S. department store Macy’s. It has also created a cloud computing business.
2. Ma Huateng Net worth $ 25.1 Billion
According to Forbes Ma Huateng, also known as Pony Ma, cofounded Tencent Holdings in 1998 and as its chairman and CEO has led it to become one of the country’s online giants. The Hong Kong-listed firm is active in social media, online commerce and games; its WeChat mobile texting service has some 760 million users.
3. Robin Li Net worth $ 14.1 Billion
Chairman of search company, Baidu, Robin Li got his start working at search engine Infoseek in Silicon Valley in the late 1990s. Baidu is one of the three dominant forces of China’s Internet landscape, along with Alibaba and Tencent, a trio known as “BAT.” Industry competition and the move from desktop computing to mobile has led Baidu to become more involved in e-commerce, video platforms and linking its online users to offline services such as food delivery and buying tickets to shows and movies.
4. Lei Jun Net worth $ 9.8 Billion
The cofounder and chairman of Xiaomi, a privately-held firm that is one of the largest Chinese smartphone makers. To grow, privately-held Xiaomi has expanded, diversifying into Brazil and India.
5. William Ding Net worth $ 14.5 Billion
One of China’s first Internet entrepreneurs, William Ding started out in 1997 with about a dozen employees. He has since turned NetEase into one of the world’s largest online and mobile game companies, with more than 8,000 employees.
6. Liu Qiangdong Net worth $6.7 Billion
Qiangdong is the founder, chairman and chief executive officer of Chinese e-commerce firm JD.com, whose shares are listed on Nasdaq. JD.com has looked in part to foreign brands to lure consumers. In July 2015 the company announced it was partnering with pop singer Taylor Swift to sell clothing designed for the Chinese market. JD.com is popular but losing money.
7. Zhang Zhidong Net worth $ 9.4 Billion
Chief technology officer of Internet company Tencent for 16 years until he retired at age 43 in September 2014. Zhang was a Shenzhen University classmate of Tencent founder Ma Huateng (also known as “Pony” Ma). Zhang is the second largest individual shareholder of Tencent, with an approximately 3% stake.
8. Jia Yueting Net worth $ 4.6 Billion
Yueting chairs LeEco, which was formerly called Leshi Internet Information & Technology Beijing, a Chinese online video site. The company has been shifting its focus. In July 2016, LeEco said it would buy smart TV firm Vizio for $2 billion. In the U.S., Jia is backing new electric car firm Faraday Future, which unveiled a concept car at the Consumer Electronics Show in January 2016.
9. Frank Wang Net worth $3.6 Billion
The world’s first drone billionaire. He is the founder and CEO of SZ Dajiang Innovation Technology, also called DJI, a privately held robotics company with estimated 2015 revenue of $1 billion.
10. Pan Zhengmin & family Net worth 5.7 Billion
Zhengmin and his wife Ingrid, are cofounders of AAC Technologies of Shenzhen, a supplier of electronics components, including speakers, receivers, microphones and antennas. Customers are makers of smartphones and tablets, including Apple. Founded in 1993, the company went public in Hong Kong in 2005.
Staff Writer
