While Alibaba founder Jack Ma’s personal wealth, thanks to recent stock market performance by his company, has made him China’s richest man, his company still trails.
Both Alibaba and Tencent (parent companies to Alibaba Pictures and Tencent Pictures) squeaked onto Fortune’s Global 500 for the first time Friday, appearing at no. 462 and no. 476 on the list of global companies, respectively, with revenues just above, and just under $23 billion, also respectively.
While Alibaba Group Chairman and Founder “Jack” Ma Yun’s personal wealth, thanks to recent stock market performance by his company, has made him China’s richest man, his company still trails. Dalian Wanda Group boasted revenues of $28.48 billion, placing it at 380th on Fortune‘s list.
Chinese technology and real estate entrepreneurs rule the roost both in terms of amassing personal wealth and in turning some of their and their companies’ riches towards the movie business, but it is China’s state-owned enterprises that are still having the biggest impact domestically and globally.
The top three Chinese companies on the Global 500 made the top five overall on the list: State Grid at no. 2; Sinopec Group at no. 3; and China National Petroleum at no. 5. Industrial & Commercial Bank of China is next at no. 22. About 100 companies then sit between that bank — the world’s largest — and real estate and entertainment conglomerate Dalian Wanda.
The list is based on “total revenues for their respective fiscal years ended on or before March 31, 2017,” according to Fortune. That’s a good thing for Wanda, which has certainly hit its share of bumps in the quarter since then. With Wanda on the ropes and Alibaba on the rise, next year’s rankings could be very different.
