- Wang Jianlin is the founder of China's biggest private property developer
- Named by Hurun Research Institute as the richest Chinese in the world
- The self-made tycoon is now richer than Hong Kong's Li Ka-Shing
- Wang's company, Wanda Group, is based in Dalian, eastern China
Wang Jianlin, the entertainment and property magnate behind Wanda Group, is now the richest Chinese person in the whole world.
The results were unveiled on August 19 in the Hurun Global Chinese Rich List, compiled by Shanghai-based Hurun Research Institute, reported People's Daily Online.
Hurun has estimated Wang Jianlin's wealth to be US$42.6 billion following the recent flotation of several assets.
World's richest Chinese person Wang Jianlin (pictured) has an estimated US$42.6 billion according to Hurun
The owner of Wanda Group started the company reportedly with just $80,000. It's now worth billions of dollars
Currently, Wang Jianlin is listed as the world's 29th wealthiest billionaire on Forbes with a worth of US$32.4 billion.
But the first edition of Hurun Global Chinese Rich List claims he's worth US$10 billion more.
MailOnline has reached out to Hurun Research Institute for comment.
According to the latest list, Wang Jianlin's wealth has almost doubled since he appeared on the Hurun Global Rich List earlier this year with US$25 billion.
This means Wang Jianlin has overtaken previous title holder Li Ka-shing, a real-estate and energy billionaire based in Hong Kong, who Hurun has attributed an estimated US$32.8 billion.
Wang Jianlin has also toppled Alibaba's Jack Ma from the top spot as China's richest man. Jack Ma, who is the founder of the world's largest e-commerce company Alibaba, is now number three on the rich list.
61-year-old Wang Jianlin is no stranger to the media.
The billionaire has previously been ranked by Forbes as the richest man in China and the 29th richest man in the world.
Wanda Group has majority shares in Sunseekerm the yacht company that made boats for James Bond films
Wang Jianlin's London investment also includes Vauxhall luxury property development One Nine Elms (above)
Wanda Plaza (above) is one of a number of department stores that Wanda Group owns across Chinese cities
According to reports Wang Jianlin owns two private jets, which he uses to travel for meetings around the world
In 1988, he founded Wanda Group in Dalian, eastern China, reportedly with just $80,000.
The conglomerate now owns hundreds of shopping malls, five-star hotels, cinemas and karaoke chains around the world.
Through the company, he has bought majority shares in Sunseeker International Ltd, the British yacht company that made boats for James Bond films.
In the same year, he also made land investments in Vauxhall, south London, where One Nine Elms has now been built.
The total value of these British investments in 2013 were estimated to be $1.6 Billion.
At the time, the outspoken businessman was reported saying 'land prices are much cheaper than in Beijing'.
Outside of the UK, Wang Jianlin has also bought a large stake in Atlético Madrid as well as US cinema chain AMC.
His self-made wealth is even more impressive give his humble beginnings in Sichuan, south west China.
Wang Jianlin joined People's Liberation Army aged just 15, following the footsteps of his father who fought alongside Mao.
After a period working as a bureaucrat, he turned his hand to business.
Wang Jianlin has overtaken Hong Kong magnate Li Ka-Shing (above) in wealth after floating his assets
Alibaba's Jack Ma (above) has also been toppled from the top as the richest man in China. He is now number 3
In comparison, Wang Jianling's son Wang Sicong had a much more easy start to life having been schooled privately in Singapore and the UK.
The 27-year-old founder of private equity fund Pusi Capital is already well-known for his lavish lifestyle.
Wang Sicong recently made the headlines for buying two Apple watches for his pet dog.
Pictures of the dog were shared on Weibo, the Chinese equivalent of Twitter.
He has also previously hired out an entire resort in Sanya, China's answer to Hawaii, to celebrate his birthday.
Hurun Global Chinese Rich List is an extension of Hurun China Rich List, China's equivalent to the Forbes billionaires list.
To qualify for the rich list, individuals had to have amassed wealth of at least 2 billion Yuan (US$320 million).
A total of 1577 people were identified for inclusion on the list. These included individuals living in 18 different countries and regions.
The top 10 of the list was dominated by mainland China and Hong Kong residents.
The mogul's son Wang Sicong is well-known in China for his lavish lifestyle and has a large following on Weibo
Wang Sicong made headlines after buying his dog Wang Keke two Apple watches to wear on its front legs
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