China rich list compiler Hurun clarifies Tsinghua graduate Zhang Zetian’s ranking to quell online controversy
- According to Hurun, Tsinghua University and Zhejiang University have produced the most graduates to become billionaires in China
- Zhang ranked behind Meituan founder Wang Xing and Xu Hang, founder of property developer Parkland Group
The Hurun Research Institute, a rich list compiler run by Rupert Hoogewerf, has clarified its decision to list Zhang Zetian, wife of Chinese tech billionaire Richard Liu Qiangdong, as the third-richest person to have graduated from the prestigious Tsinghua University after the ranking stirred controversy online.
According to a list published by Hurun last Friday, Tsinghua University and Zhejiang University have produced the most graduates to become billionaires in China. And 30-year-old Zhang was ranked as the third-richest graduate from Tsinghua, with a net worth of 60 billion yuan (US$8.4 billion).
Zhang ranked behind 44-year-old Wang Xing, 44, founder of food delivery giant Meituan and 62-year-old Xu Hang, founder of property developer Parkland Group. However, many Chinese netizens questioned on social media platforms whether Zhang actually owns such massive wealth.
Hurun issued a statement on Monday to clarify its methodology for the ranking of rich Chinese alumni. “In the case of Tsinghua’s Zhang, her 60 billion yuan worth falls under her and [husband] Liu jointly.”
The controversy comes amid greater scrutiny of personal wealth and income inequality in China. According to a separate rich list published by Forbes in November 2023, the net worth of Liu, founder and chairman of e-commerce giant JD.com, was US$4.7 billion, ranking No. 69 in China’s top 100 rich list.
