PRESS RELEASE HURUN GLOBAL UNDER 40 & SELF MADE RICH LIST

47 BILLIONAIRES IN WORLD UNDER 40 AND SELF-MADE

ON AVERAGE 7 YEARS TO MAKE FIRST BILLION

WITH US$58BN, MARK ZUCKERBERG IS THE RICHEST BILLIONAIRE IN THE HURUN GLOBAL UNDER 40 RICH LIST 2017

TOP 4 FROM FACEBOOK

ZHOU YIFENG, 39, WITH HER SPOUSE, WANG MINGXIANG

FROM ORIENTAL ENERGY IS THE RICHEST UNDER 40 SELF MADE WOMAN SHARING WEALTH OF US$1BN

WITH 20 BILLIONAIRES, USA IS PREFERRED COUNTRY FOR YOUNG BILLIONAIRES FOLLOWED BY CHINA (18)

WITH 12 BILLIONAIRES, SAN FRANCISCO, PREFERRED CITY

ON AVERAGE, WEALTH HAS INCREASED BY 29%; RISERS LED BY SNAPCHAT’S BOBBY MURPHY (27) AND EVAN SPIEGEL (26) WHO SAW THEIR WEALTH INCREASE BY 178% TO US$5BN EACH

14 BILLIONAIRES UNDER 40 DEBUTED HURUN GLOBAL RICH LIST 2017; ADAM NEUMAN (37), OF WEWORK IS THE WEALTHIEST NEW ENTRANT (US$3BN) UNDER 40

WITH US$1BN, KIRILL SHAMALOV, SON-IN-LAW OF RUSSIAN PREMIER, VLADIMIR PUTIN IS A NEW ENTRANT IN THE HURUN GLOBAL UNDER 40 SELF-MADE RICH LIST

WITH 5 BILLIONAIRES, HARVARD GRADUATES LED THE WAY

24 SAW THEIR WEALTH INCREASE AND 8 SAW THEIR WEALTH DECREASE

WITH 21 LISTINGS, NEW YORK STOCK EXCHANGE IS PREFERRED EXCHANGE OF THE YOUNG AND SELF MADE

TMT, THE LEADING SECTOR WITH 33 BILLIONAIRES FOLLOWED BY INVESTMENTS (3)

LEADING AUTHORITY ON WORLD’S WEALTHY RELEASES HURUN GLOBAL RICH LIST – FORTY AND UNDER SELF-MADE BILLIONAIRES 2017

(4 July 2017, Shanghai, China) Hurun Report today released the Hurun Global Rich List - Forty and Under Self-Made Billionaires 2017, a ranking of the self-made US dollar billionaires forty years and under currently found in the world. Wealth calculations are a snapshot of 15 January 2017. This is the second year of the ranking and is a sub list of the Hurun Global Rich List, released on 7 March.

The Hurun Global Under 40 Self-made Rich List 2017 ranked 47 Under 40 billionaires

·  With wealth of US$58bn, Mark Zuckerberg from Facebook tops the list, followed by Dustin Moskovitz from Facebook (US$10bn) and Eduardo Saverin from Facebook (US$8bn)

·  Evan Spiegel (26) of Snapchat is the youngest billionaire with a net worth of US$5Bn

· San Francisco with 12 billionaires is the preferred city followed by Beijing and Shanghai with 8 billionaires and 3 billionaires each.

·   The average age of billionaires is 36 years.

Rupert Hoogewerf, Chairman and Chief Researcher of Hurun Report, said, “80% of the world’s ‘40 years or under’ billionaires come from the US and China. That should be pretty scary for the rest of the world.”

Table: Top 10 Hurun Global Rich List – Forty and Under Self-Made Billionaires 2017

Source: Hurun Research Institute 2017

Mark Zuckerberg, 33, secures the first position with a fortune of US$58bn. Zuckerberg launched Facebook with his college roommates and fellow Harvard University students. Facebook expanded rapidly and has reached more than 1.86 billion active users and currently has a market capitalization of US$ 400bn. Zuckerberg, along with his wife, Priscilla Chan, announced that they would give majority of their wealth for philanthropy causes and have donated 99% of his Facebook stock to public interest causes.  

With a networth of US$9.9bn, Dustin Moskovitz, 32, helped launch Facebook with then-roommate and Harvard University student, Mark Zuckerberg and most of his wealth comes from the 3% stake in Facebook.  He also cofounded Asana, a software company. Moskovitz and his wife, has built a philanthropic foundation called Good ventures, which focuses on causes such as Marriage equality and healthcare.

Eduardo Saverin, 34, the cofounder of Facebook still derives wealth from his minority stake in the company. Eduardo Saverin and prominent Silicon Valley investor Raj Ganguly closed a $143 million venture fund, with emphasis on India and South East Asia. 

Sean Parker, 37, an American entrepreneur and philanthropist served as the first president to serve in Facebook. With a wealth of US$6.9bn, an increase of 84%, stands in 4th position in the Under 40 Hurun Rich List. The increase of his wealth is mainly due to the share price movements. He is the founder and chairman of the Parker Foundation, which focuses on life sciences, global public health, and civic engagement.

Travis Kalanick (40), Garrett Camp (38) of Uber Technologies share the fifth position with networth of US$6.0bn each.  Travis Kalanick and Garret Camp, the cofounders of Uber Technologies, has reached a US$1.1bn in revenue. The company raised a $5.5 billion financing which included a large investment from Saudi Arabia's sovereign wealth fund. But the ride-hailing gaint Uber has lost in China and Didi Chuxing has acquired Uber China.

Bobby Murphy (27) and Evan Spiegel (26), the cofounders of Snapchat share a wealth of US$4.9bn. Snapchat plans to raise US$3bn in an initial public offering which would the largest US tech IPO. Snap made a net loss of $515m in 2016, wider than its $373m loss the year before.

Wang Tao (37), the founder and CEO of DJI Technology Co., a privately held robotics firm, ranks 9^th in the Hurun Global Under 40 Self Made Rich List with fortune of US$4bn. Shenzhen-based DJI maintains a stranglehold on the consumer drone market, where its flagship model, the Phantom, is the most popular product. In 2016, DJI unveiled Mavic, a smaller, foldable drone and Wang owns about 45% of the company.

With a wealth of US$3.7bn, Brian Chesky (35) Nathan Blecharczyk (33) and Joe Gebbia (35) of Airbnb shares the 10^th position in the Hurun Global Rich List 2017 and co-founded the hospitality exchange service Airbnb.  After Trumps immigration ban, Brian Chesky offered free housing to refugees not allowed in US. In 2015, the Obama Administration named Chesky as a Presidential Ambassador for Global Entrepreneurship. 

Divyank Turakhia (35), the founder of Directi, has a wealth of US$1.5bn and made his fortune by selling ad tech firm Media.net for US$900mn to a Chinese consortium in August and  plans to spend US$110mn in four newer ventures to buy a 1 lakh square feet building in central Bengaluru to accommodate its expansion .

With a networth of US$1.8bn, Shamsheer Vayalil (40), founded and runs VPS Healthcare, a network of hospitals, clinics and pharmacies in the UAE and India. Vayalil is the son-in-law of NRI business tycoon MA Yusuf Ali, who owns the LuLu hypermarket chain in the Middle East.
VPS Healthcare acquired New-Delhi headquartered Rockland Hospital for US$222mn.

Notable Drop outs from Self-made under 40

Widespread reporting of inaccurate lab test results resulted in decline of Theranos, which led to the exit of Elizabeth Holmes, 33, from Hurun Global Rich List 2017

Sachin Bansal and Binny Bansal, founders of Bangalore based e-commerce Commerce Company moved out of Hurun Global Rich List 2017 due to a hit in valuation caused by competition from Amazon and Alibaba.

Where they live.

 By country, USA tops the list with 20 billionaires under 40 years, followed by China (18).  Mark Zuckerberg from Facebook is the richest man in the USA with wealth of US$58bn.

Table 2: Under 40 Billionaires by Country

Source: Hurun Research Institute 2017

By city, San Francisco leads with 12, followed by Beijing with 8 billionaires. Dustin Moskovitz from Facebook is the richest man in San Francisco.

Table 3: Under 40 Billionaires by City

Source: Hurun Research Institute 2017

Average time to make the first billion: 7 years.

Table: The “Fastest to a Billion”

Source: Hurun Research Institute 2016

The fastest people on the planet to make billionaire status are Evan Spiegel and Bobby Murphy, who managed it only three years after starting up Snapchat in 2011. Snapchat is a photo messaging app that allows users send photos, record videos, text and drawings. In March 2015 Chinese e-commerce giant Alibaba invested US$200m in a deal that valued Snapchat at US$15bn.

Mark Zuckerberg was a billionaire aged 23, four years after starting up. The other three co-founders only became billionaires at the time of the IPO.

For Stripes founders John Collison and Patrick Collison, it took 6 years to become billionaires. Stripes, founded in 2010, offers unified APIs and tools that instantly enable businesses to accept and manage online payments.

Airbnb founders Brian Chesky, Joe Gebbia and Nathan Blecharczyk took 7 years. In December 2015, Airbnb raised US$1.5bn, valuing the business at US$25bn.

Industry wise classification of Billionaires

TMT has produced the most billionaires with 33 billionaires and tops the list, followed by Investment with 3 billionaires. Other industries that had a good year include Manufacturing, Energy and Financial Services.

Table 4: Under 40 Billionaires by industry

Source: Hurun Research Institute 2017

Table 7: Under 40 Hurun Rich List (Inherited)

Hurun Global Rich List 2017 - Forty & Under Self-made

For more, see www.hurun.net

About Hurun Report Inc.

Nobody Knows China’s Rich Better!

Established as a research unit in 1999 by British accountant Rupert Hoogewerf, Hurun Report Inc. has grown into a leading research house, media and lifestyle investments business based in Shanghai, China, best-known for its rankings of the richest people in China, India and the rest of the world.

Hurun Report Inc. has four divisions: Hurun Research Institute; Hurun Media; Hurun Conferences and Training, an active events division targeting entrepreneurs and high net worth individuals; and Hurun Lifestyle and Investments, with investments in education, interior design, horses, bespoke tailoring, media and retail.

For further information, see 

Hurun Global Under 40 & Self Made Rich List 2017 ENG&CHN.xlsx

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