Duan Yongping, Ge Weidong, Qu Guogen and other investment titans rush into the global rich list!

Source: Private Equity排排网

Wealth accumulation often reflects the tone of the era. The 2026 Hurun Global Rich List has been released as scheduled, highlighting a number of figures from China’s private equity industry. This not only proves individual capability but also symbolizes China’s capital market maturity and the redefinition of the asset management industry’s value.

01

Chongyang Investment—Qiu Guogen and Luo Yifu Couple: 7.5 Billion Wealth Listed

Private equity giants—Qiu Guogen and Luo Yifu are regulars on the global billionaire list, having appeared on the Hurun Global Rich List for several consecutive years. In 2008, with a net worth of 1.46 billion yuan, they ranked 328th on Forbes China Rich List; by March 2024, their combined wealth reached 7.2 billion yuan, ranking 3,058th; in March 2025, with 7.3 billion yuan, they ranked 3,206th; and in March 2026, with 7.5 billion yuan, they ranked 3,635th.

Tianyancha data shows that in the equity structure of Chongyang Group, Qiu Guogen holds 78%, Luo Yi holds 22%, and the couple jointly manage Chongyang Investment, a private equity giant with a management scale of hundreds of billions.

Qiu Guogen once wrote: “Rushing to succeed and seeking overnight wealth are human nature, but they are enemies of long-term investment success. Often, slow is fast.” In December 2017, Chongyang Strategic invested 600 million yuan through its fund in Xinhecheng’s private placement, achieving an unrealized gain of over 1 billion yuan in eight years—a long-term stealth investment.

Recently, Xinhecheng’s stock price has repeatedly hit new highs, with a market value surpassing 100 billion. According to Xinhecheng’s quarterly report, as of the end of Q3 2025, three products managed by Chongyang Investment, led by Qiu Guogen, remain among the top ten shareholders, with a combined holding value close to 1.5 billion yuan. (View holdings here)

From 1996 to 1997’s bull market, Qiu Guogen and Luo Yi increased their wealth nearly 20-fold by investing in undervalued stocks like Shenfa Development. In 2001, Chongyang Investment was established, and today, through “equity thinking” and long-term holding of quality targets, they have demonstrated that true wealth accumulation is always a friend of time.

Performance-wise, Choice data shows that the trust product “Chongyang Phase 1,” advised by Chongyang Investment, was established in September 2008 and achieved a return of ***% as of June 30, 2025. Additionally, “Chongyang Target Return Phase 1,” “Golden Select Phase 10 No.3,” and “Chongyang Target Privilege Phase A,” established in September 2011, November 2011, and August 2014 respectively, have also delivered returns of ***%. (View returns here)

[Due to regulatory requirements, private equity products cannot publicly display performance; the earnings data in this article are replaced with ***, and qualified investors can scan the code to view detailed returns.]

02

Hillhouse Capital Founder—Zhang Lei: 26.5 Billion Wealth, Ranked 1013th

Born in 1972 in Zhumadian, Henan, Zhang Lei was the top scorer in the liberal arts college entrance exam in Henan Province in 1990, then studied at Yale University under David Swensen. In 2026, Zhang Lei’s net worth reached 26.5 billion yuan, ranking 1,013th on the Hurun Global Rich List.

In 2005, Zhang Lei founded Hillhouse Capital Group, investing $30 million from Yale’s endowment fund into Tencent, which yielded a 200-fold return, making him famous overnight. Starting from $20 million in 2005, Hillhouse now manages over $500 billion, investing in more than 800 companies, becoming one of Asia’s largest private equity funds. Notable investments include JD.com, Belle International, and Blue Moon:

JD.com: In 2010, invested $300 million to help improve logistics and facilitate cooperation with Tencent. At that time, Liu Qiangdong’s funding need was only $75 million; Zhang Lei insisted on $300 million, believing “without enough money in logistics and supply chain, you can’t see core competitiveness.”

Belle International: In 2017, acquired Belle Group for HKD 53.1 billion; in 2019, its subsidiary Tmall Sports went public in Hong Kong, with a market value exceeding HKD 70 billion.

Blue Moon: Invested in 2008, encouraging the founder to shift from laundry powder to liquid detergent. After two years of losses, Blue Moon became the leading laundry detergent brand, with revenue growing from 400 million to 4.3 billion yuan.

Latest data shows Hillhouse’s overseas funds held positions in Pinduoduo, Alibaba, and others as of the end of 2025. By Q4 2025, the total market value of HHLR’s US stock holdings was about $3.104 billion, with 33 stocks in total, with Chinese concept stocks accounting for 92%.

In January 2026, Zhang Lei stated that Hillhouse has continuously expanded its investments in China since its founding. With international investors optimistic about China’s prospects, Hillhouse will continue to encourage more multinational companies and international financial institutions to seize opportunities and invest in China. (View holdings here)

03

Chaos Dao Ran—Ge Weidong: 35.5 Billion Wealth, Ranked 871st

Ge Weidong, a legendary figure in China’s capital markets, is known as the “Number One of the Four Kings of Futures.” He is chairman of Chaos Investment and chairman of the Investment Decision Committee of Chaos Dao Ran. A grassroots entrepreneur from Guizhou who rose from rural roots, he has written a legendary story of turning 100,000 yuan into hundreds of billions over more than twenty years. In 2026, Ge Weidong’s net worth reached 35.5 billion yuan, ranking 871st on the Hurun Global Rich List.

Born in 1970 in Guizhou, he was the first college student in his village. After graduating from Sichuan University’s Economics Department in 1991, he returned to Guiyang, working at Guizhou Grain and Oil Import & Export Company. He worked there for seven years, during which he was introduced to commodity futures—since major agricultural products are priced on international futures markets, Ge Weidong became familiar with futures early on.

Before 2000, China’s futures market was still in its wild growth phase, with many outrageous profit opportunities. He turned 100,000 yuan into 2 billion in a few years. One classic battle was in 2010, when domestic cotton suffered large-scale drought-induced reductions. Ge Weidong keenly seized the opportunity, going long on cotton futures at low levels, and the price multiplied several times, earning him tens of billions.

His fame skyrocketed after the 2014 “Copper Futures Battle.” Ge led his team to buy copper futures and put options in batches on the NYMEX. On March 10, when the international organization downgraded global economic growth forecasts, he closed all long positions within half an hour, causing a 3% drop in international copper prices. Then he reversed to short positions, triggering panic in the market. European and American investors followed suit, and copper prices plummeted over 10% in three days. Ge quickly closed all short positions and left with 1.8 billion yuan, earning himself the nickname “Eastern Wolf Hunting on Wall Street.”

In 2005, Ge Weidong founded Shanghai Chaos Investment Co., Ltd., as the foundation for his investment career, focusing on commodity futures, securities, and financial derivatives. In 2007, he joined Wang Xin’s Dao Ran Investment Management, increasing capital and renaming it Shanghai Chaos Dao Ran Asset Management, with assets under management reaching 0.5-1 billion yuan by 2025.

In December 2025, chip company Muxi Co., Ltd. went public, marking another highlight in Ge Weidong’s career. The prospectus shows he directly owns 14.3382 million shares, and Chaos Investment holds 12.5997 million shares, totaling about 6.7%. Since 2022, he invested over 1.4 billion yuan in Muxi. On its first day, Muxi surged 755% intraday and closed up 692.95%, instantly increasing Ge Weidong’s and related parties’ net worth by nearly 20 billion yuan.

04

Investment Legend—Duan Yongping: 14.5 Billion Wealth, Ranked 2207th

In China’s investment scene, Duan Yongping is a legendary figure—successful entrepreneur and top value investor, often called “China’s Buffett.” In 2026, Duan Yongping’s net worth was 14.5 billion yuan, ranking 2,207th on the Hurun Global Rich List.

H&H International Investment, LLC (H&H) is a US-based investment advisory firm that has frequently appeared in SEC 13F filings recently, attracting market attention. The actual controller behind this firm is Duan Yongping.

By the end of 2025, Duan Yongping’s overseas funds held 14 US stocks with a total market value of about $17.489 billion (nearly 120 billion yuan), an increase of over $2.8 billion from Q3 2025. The focus is on the information technology sector, with holdings close to $11 billion, accounting for about 63%.

In 1995, he founded BBK Electronics, rising with products like VCDs, phones, and learning machines, later splitting into OPPO and vivo (Duan Yongping was a key investor behind). More legendary is his mentorship: OPPO’s Chen Mingyong, vivo’s Shen Wei, Pinduoduo’s Huang Zheng, and Little Genius’s Jin Zhijiang—each a leader in their industry. Duan Yongping not only provides capital support but also instills core values of “doing the right thing and doing things right.”

A devoted follower and practitioner of Buffett’s “value investing,” his core philosophy is “buy stocks as if buying companies,” emphasizing business models and corporate culture.

His holdings are simple and transparent: heavily invested in Apple, Kweichow Moutai, Tencent, occasionally hedging with options. He avoids short-term trading, fundraising, and roadshows, yet remains a spiritual mentor for countless investors. In 2026, despite fluctuations in Apple’s market cap and Tencent’s buybacks, Duan Yongping casually posts screenshots of his holdings with the caption “No big moves, just playing ball.” (See latest holdings of Buffett, Duan Yongping, Dan Bian, Hillhouse, GGV, Jinglin, and other giants!)

Additionally, Duan Yongping is passionate about charity, having donated over 1 billion yuan to universities like Zhejiang University and Beijing Normal University. The library at Beiyu Normal University Zhuhai campus is named “Peng Jianhua Library” in honor of his mother. He says, “Having too much money is troublesome; doing charity solves my own worries.” When asked about his life goal, he replied, “Live healthily and a bit longer.”

05

Sequoia China—Shen Nanpeng: 40 Billion Wealth, Ranked 785th

On the 2026 Hurun Global Rich List, Sequoia China’s Shen Nanpeng ranks 785th with 40 billion yuan. A native of Haining, Zhejiang, and an alumnus of Shanghai Jiao Tong University’s Applied Mathematics Class of 1988, he is known as the “Godfather of Internet Investment.”

In 1999, Shen Nanpeng co-founded Ctrip.com, breaking industry barriers with the “Internet + Travel” model, serving as CFO. Within four years, he led Ctrip to successfully list on NASDAQ in 2003, becoming China’s fourth internet company to go public.

In 2002, he founded Home Inn, accurately capturing the budget hotel market gap. Within four years, it also listed on NASDAQ in 2006, achieving two NASDAQ listings in three years.

In August 2005, Shen left Ctrip and co-founded Sequoia Capital China with top global venture capital firms, marking the start of his venture capital career. Under his leadership, Sequoia China rapidly grew into one of the most influential investment institutions domestically.

Sequoia China’s investment footprint spans consumer, enterprise services, healthcare, and hard technology, with over 1,500 companies invested, more than 160 of which have gone public, with a total market value exceeding 2.6 trillion yuan.

His investment achievements have also gained international recognition. He has appeared 13 times on Forbes’ list of top global venture capitalists, ranking first four times (2018-2020).