Richest Chinese helps carmakers turn to solar power

Related story: China's richest man: 'New Energy King' Li Hejun, by Wang Zhuoqiong, China Daily

"New Energy King" Li Hejun, 48, is now the richest man in China and Bill Gates takes the top spot in the world, according to Hurun Report published by the Hurun Research Institute on Tuesday.

Li is the board Chairman and CEO of Hanergy Holdings Group Limited, a Beijing-based thin-film photovoltaic solar panel manufacturer.

The number of world's billionaires grew by 222 to 2,089 with 649 seeing their wealth increase in a record-breaking year for the wealthy, said the Hurun Global Rich List 2015. China's stock market boom became a key driver for 72 new faces. The United States saw 56 enter the list for the first time.

A total of 649 saw their wealth rise and there were 341 new faces. Two hundred and thirty remained unchanged and eight hundred and sixty nine saw their wealth decrease. Ninety-five dropped out of last year's list.

The collapse of the Russian rouble, brought about by a stagnating Russian economy, sanctions due to Ukrainian conflict and cheaper global oil price, saw the wealth of 60 percent of Russian billionaires decline, led by Sistema's Vladimir Yevtushenkov, 77 percent drop, and Lukoil's Vagit Alekperov, 73 percent fall.

Although the list expanded by 222 individuals, the total wealth dropped by 1.5 percent to $6.7 trillion, still more than the GDP of Japan and South Korea combined.

The average age of the billionaires is 64, same as last year.