34. Lu Guanqiu – $6.7 billion
Lu Guanqiu reminds us that, despite the Communist ideology, China long embraced capitalism and nurtured its billionaires.
A delegate to the Chinese National People’s Congress, Guanqiu successfully juggles with an active political career while retaining leadership of Wanxiang Group, one of the biggest manufacturing companies.
Lu’s success story is admirable. Born into a family of peasants, his first business was acquiring scrap metal and turning it into farm tools. Lu’s evolution from nobody to billionaire was parallel with that of the Chinese economy in general. Although hastened by a totalitarian regime, the most populous nation in the world graduated, and now plays in the big league.