The man responsible for producing listings of China’s richest
people since 1999, Rupert Hoogewerf, is now a millionaire himself
but heated debate over his lists never goes away. ?
Through advertisements and sponsorship his team earned at least
US$1.2 million this year, said Thursday's Beijing News.
Hoogewerf told the press his 30-member team had earned between
US$1.2 million and US$12 million this year but didn't reveal a more
accurate figure, said the paper.
The annual publication of Hoogewerf's rich list is always
attention-grabbing even though many industry insiders argue that
not all the statistics used are credible. For example, Hoogewerf
concluded that the wealth of Zhu Xinli, president of the
Beijing-based juice producer Huiyuan Group, quadrupled based on one
case of the company's stock transfer. Many stock analysts say this
method of calculation isn't scientific.
Hoogewerf says he doesn't have one fixed standard to calculate
wealth, according to the paper. He said the easiest way was always
to calculate the market value of the stock held by senior figures
in large companies. ??
Analysts have said there are other factors that may contribute
to the make-up a person's accumulated wealth, said the paper.
Last year a Shanghai-based real estate developer reacted
strongly when he learned he was?listed as having US$225
million and considered suing Hoogewerf, according to the paper.
(Xinhua News Agency October 13, 2006)