The LED Lighting Rich List Sees A Major Shakeup

The highly anticipated 2024 Hurun Global Rich List (hereinafter referred to as the List) was unveiled once again on March 25th, and the LED lighting industry rich list has also undergone significant changes. Compared to previous years, the number of billionaires on the list has decreased, and the wealth rankings of over 80% of the billionaires have declined. This issue will focus on the representative LED lighting billionaires in the industry who have successfully made it onto the 2024 Hurun Global Rich List.

Overall Wealth in the LED Lighting Industry Shrinks for Three Consecutive Years

It is understood that the total wealth of the LED lighting industry has shrunk for three consecutive years. Compared to the total wealth of 198.2 billion yuan in 2023, the total wealth in 2024 shrank by 32.5 billion yuan.

In contrast, the List shows that a total of 3,279 entrepreneurs from 73 countries and regions and 2,435 companies are on the List, up from 3,112 last year. The number of billionaires increased by 5%, and total wealth increased by 9%, reaching an astonishing 108 trillion yuan. The wealth calculation deadline is January 15, 2024.

It is worth noting that although the number of Chinese billionaires on the List decreased this year by 155 to 814, they are still ranked first in the world. Among them, the explosion of the AI industry is particularly eye-catching, with more than half of the new wealth coming from the AI industry.

Major Reshuffle in the LED Lighting Rich List, with Only Two Billionaires Seeing a Rise in Wealth Ranking

Compared to previous years, this year not only has the total wealth of the world's richest people in LED lighting declined, but among the top 15 richest people on the List (including Longi's Li Zhenguo and Li Xueping, San'an Optoelectronics' Lin Xiucheng and Lin Zhiqiang, and MLS's Sun Qinghuan and Sun Xiangbang brothers on the List together), only two have seen their wealth rankings rise, and the increases are not significant. They are Zhaochi Lighting's Gu Wei, with 11 billion yuan, up 42 places in the ranking; and TCL's Li Dongsheng, with 8 billion yuan, up 28 places in the ranking.

The most severe decline in wealth ranking is Jingcheng Electromechanical's Cao Jianwei, whose ranking fell 1,443 places, "stalling" to 3,058th, which is the "bottom" of the rich list; followed by Dongshan Precision's Yuan Fugen, whose ranking fell 1,056 places, also "stalling" and falling to 2,573rd; while San'an Optoelectronics' Lin Xiucheng and Lin Zhiqiang also continued to decline, and the decline was greater than in previous years, falling 649 places.

In addition, Longi Group's Li Zhenguo and Li Xueping, Xingyu Shares' Zhou Xiaoping, Chint Electric's Nan Cunhui, Euop Lighting's Ma Xiuhui, Jingcheng Electromechanical's Qiu Minxiu, Dongshan Precision's Yuan Fugen, Hans Laser's Gao Yunfeng, MLS's Sun Qinghuan and Sun Xiangbang, and others have also experienced varying degrees of ranking declines.

Longi Group Remains the Top LED Lighting Company, but Even the Strong Have Their Worries

Despite the decline in their rankings, Longi Group's Li Zhenguo and Li Xueping are still the winners of the "richest throne", and they are still far ahead of the second-placed Xingyu Shares' Zhou Xiaoping. There is a difference of 661 places in the global rich rankings, and a difference of 17.5 billion yuan in wealth.

In addition, Jingfeng Mingyuan and Aoyang Shun have both fallen off the global rich list and have not yet returned to the list so far.

Wealth Changes Reflect Industry Landscape, with Some Companies Posting Strong Performance

In line with the changes in wealth rankings, the only ones to see an increase in their wealth values are Zhaochi Lighting's Gu Wei, whose wealth value increased by 1.5 billion yuan from last year to 11 billion yuan; and TCL's Li Dongsheng, whose wealth value also increased by 1.3 billion yuan to 8 billion yuan. It is worth noting that the wealth values of Euop Lighting's Ma Xiuhui and MLS's