Richest Chinaman 2005 unchanged
13 October 2005
Huang Guangyu, 36, the founder and chairman of Gome Electrical Appliances, is China's richest man for a second consecutive year, with a fortune of US$1.7 billion, Bloomberg reported, citing "the China Rich List", an annual ranking of the country's wealthiest business people compiled by Rupert Hoogewerf, a Shanghai-based researcher. Huang has seen his wealth increase by 30% from US$1.3 billion in 2004 after selling shares in his company, the biggest home-appliance chain in China, which is listed on the Hong Kong stock exchange. The ranking shows that the number of billionaires rose from three to seven last year. The average wealth of the top 100 on the list soared 48% to US$440 million, from US$297 million in 2004, the report said.
