No. 10 Han Hongwei and Han Xiao
Company: Shanghai Guijiu Group and HYW
Net wealth: RMB 7.5 billion (US$1.1 billion)
Age: 57 and 33
Han Hongwei and Han Xiao, the father and son duo, have a combined wealth of RMB 7.5 billion, based on Hurun’s 2022 Global Rich List, with majority of their fortune coming from their financial and wealth management firm and a baijiu company.
Han Hongwei is the Founder and Chairman of Hywin Wealth (HYW) and Hywin Financial Holdings and his son currently is the director of Shanghai-based baijiu company Shanghai Guijiu Group.
A veteran-turned-entrepreneur, Han’s career path spans from automobile industry to making concrete to eventually financial services and drinks industry. During the first year of the pandemic, Shanghai Guijiu made a pledge not to fire any employees or cut salaries. The baijiu company also created close to 10,000 job opportunities for retired military officers and veterans during the pandemic, according to Chinese media reports.
The same year, Han lead a group of more than 400 employees to Jinggangshan, the communist revolutionary base in Jiangxi province, to pay respect to communist martyrs. Dressed in military uniforms, Han and his dutiful staff recited Mao Zedong’s poem and pledged to rekindle “Jinggangshan spirit”. Conceived in the challenging 1920s, it is considered the source of communist spirit.
But his pilgrim did not save his company from troubles. In 2022, it was reported in Chinese media the father and duo controlled company is investigated by Shanghai Securities Regulatory Bureau for illegal disclosing of information.