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China’s richest lawmakers are worth over $500 billion

Tuesday, March 7, 2017 21:09
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Welcome to The Ultimate Crony Capitalist State. China is big government and big business fused together. It’s good to be a crony in China. On the outside however it’s a bit more challenging.

(From CNN Money)

‘Pony’ Ma Huateng, co-founder and CEO of tech giant Tencent (TCEHY), is the richest delegate, with a net worth of $24 billion according to Hurun. ‘Robin’ Li Yanhong, the chief of internet firm Baidu (BIDU, Tech30) is also among the wealthiest: he’s worth $14 billion.

The total wealth of China’s super rich lawmakers dwarfs that of their American counterparts, according to the most recently available data. But the National People’s Congress lacks the power of the U.S. Congress.

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