Electronics retailer is China's richest man

(photo: tom.com)

A 35-year-old, who made his fortune selling electronic appliances, heads this year's list of 100 richest Chinese compiled by EuromoneyChina.

Huang Guangyu founded GoMe Appliances, China's largest electronics retailer.

With a fortune of US$1.3 billion, he ousted last year's No. 1, Ding Lei of NetEase.com, who slipped to the 7th position.

No. 2 on the list is the 31-year-old Chen Tianqiao, with a fortune of US$1.05 billion. Third on the list is Rong Zhijian, 62, with a fortune of US$1 billion.

This is the sixth annual list of Chinese millionaires compiled by Shanghai-based researcher Rupert Hoogewerf.

The list indicates that total worth of the 100 richest Chinese has grown to $50.7 billion, and most of the tycoons made their fortunes in property.