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Asia's 10 richest millennials

Asia's Richest Millennials

Lane Oatey | Blue Jean Images | Getty Images

While it's no secret that Asia is the world's millionaire factory, what may not be as well known is just how young the region's ultra-moneyed are.

Asia's millennials rich list, compiled by wealth research firm Wealth-X, reveals the 10 wealthiest individuals in the region aged between 18 and 34. The term millennials refers to "80s and 90s babies", or to be exact, those born between 1981 to 1997, as defined by think tank Pew Research Center.

Unsurprisingly, Chinese dominate the ranking, accounting for nine out of the top 10. Those who feature on the ranking, however, have made their wealth in very different ways, from jewelry to real estate to technology.

Some are self-made and others the lucky inheritors of family fortunes, but one thing's for certain: there's some serious dosh floating around the region. Click ahead to find out who these young and incredibly cashed up individuals are.

By CNBC's Ansuya Harjani
Published on July 15, 2015

10. Zhu Yufeng

GCL-Poly Energy Holdings

Net worth: $660 million
Country of origin: Hong Kong
Source of wealth: Inheritance

Kicking off our top 10 list of Asia's richest millennials is 34-year-old Zhu Yufeng, a co-owner of the Asia-Pacific Energy Fund - a major shareholder of Hong Kong-listed GCL-Poly Energy Holdings, which his father founded in 1996.

GCL-Poly Energy is the world's biggest maker of polysilicon and wafers used in solar panels. It also owns several large-scale solar farms globally.

9. Zhang Kangli

Suning Universal

Net worth: $710 million
Country of origin: China
Source of wealth: Inheritance

Zhang Kangli, 34, is the son of Zhang Guiping, the chairman of China's Suning Universal, a publicly-traded real estate firm specializing in residential and commercial property development.

Zhang, currently the general manager of Suning, is a graduate of the University of Toronto, where he attained a degree in economics and human resource management.

8. John Paul Joy Alukkas


Net worth: $820 million
Country of origin: India
Source of wealth: Inheritance

The youngest on the list at 29 years old, John Paul Joy Alukkas is the son of Joy Alukkas - the chairman and managing director of Indian jewelry retailer Joyalukkas Group, which operates 95 outlets across 10 countries. Apart from being the youngest, he is also the only person on the ranking that is not from Greater China.

The eldest of three siblings, John Alukkas has roots in the southern Indian state of Kerala, but grew up in the United Arab Emirates.

Alukkas' father is reportedly planning to retire this year and appears to have transferred 70 percent of the business to his eldest son, according to Wealth-X. John is slated to take over the management of the company after his father steps down.

7. Yan Wu

Hakim Information Technology

Net worth: $860 million
Country of origin: China
Source of wealth: Inheritance

Yan Wu, 34, is the first of three women on the rich list. She serves as the chairman of Hangzhou-based Hakim Information Technology, which involved in the development of smart cities technology.

Wu temporarily attained billionaire status earlier this year after a bumper rise in Hakim's share price, which increased the value of Wu's stake in the company to $1.1 billion. However, Hakim's 20:10 stock split earlier this month triggered a sharp fall in its share price, costing Wu over $200 million, according to Wealth-X.

6. Ou Chen (Leo Chen)


Net worth: $1.1 billion
Country of origin: China
Source of wealth: Self-made

Leo Chen is the co-founder and CEO of Jumei International, one of China's largest cosmetics e-commerce retailers. The company listed on the New York Stock Exchange last May after raising $245 million through a share sale. Jumei shares have put up a solid performance this year, up 43 percent since January.

Chen, who has been called 'China's Mark Zuckerberg', began developing software in his college dormitory while attending Nanyang Technological University in Singapore, where he founded Garena - a platform for online and mobile entertainment. He exited the company in 2008 while attending Stanford's Graduate School of Business, where he earned his MBA.

5. Lin Qi

Global Mobile Game Confederation

Net worth: $2.2 billion
Country of origin: China
Source of wealth: Self-made

Chinese tech entrepreneur Lin Qi is the founder of Youzu Interactive, a fast-growing web and mobile game developer based in Shanghai.

The company, which produces games both for its home and overseas markets including Taiwan and North America, was acquired by Susino Umbrella in an all-stock deal in 2014. Lin, 34, currently owns approximately 100.9 million shares in Youzu, which were last valued at $2.2 billion, according to Wealth-X.

4. He Zhitao

Lightspeed China Partners

Net worth: $2.7 billion
Country of origin: China
Source of wealth: Self-made

Chinese software entrepreneur He Zhitao is the chairman of Hangzhou Liaison Interactive Information Technology.

He owes the bulk of his wealth generation to a run-up in shares of the Shenzhen-listed firm, which have surged over 210 percent year-to-date.

3. Fuli Zong (Kelly Zong)

Bloomberg | Getty Images

Net worth: $3 billion
Source of wealth: Inheritance
Country of origin: China

Kelly Zong, 33, is the only daughter of mainland billionaire, Qinghou Zong, the founder of the country's largest beverage producer Hangzhou Wahaha Group.

Zong, a graduate of Pepperdine University and naturalized U.S. citizen, currently serves as the president of Wahaha and is slated to take the reins of the company when her father retires.

2. Cheng Chi Kong (Adrian Cheng)

Bloomberg | Getty Images

Net worth: $4.4 billion
Source of wealth: Inheritance
Country of origin: Hong Kong

Adrian Cheng is the son of Hong Kong business tycoon Henry Cheng, the chairman of New World Development, a conglomerate with operations in property, infrastructure, transport, retail and telecommunications operations.

The 34-year-old Harvard graduate and former Goldman Sachs banker was named the executive vice-chairman of New World Development in March, signalling a gradual transfer of control of the business to the next generation.

1. Yang Huiyan


Net worth: $6.1 billion
Source of wealth: Inheritance
Country of origin: China

Topping the ranking, 34-year-old Yang Huiyan is the vice chairman of Country Garden Holdings, China's seventh largest property developer with a market capitalization of 69 billion Hong Kong dollars ($8.9 billion).

Yang was given her father's stake in the company in 2007, according to Forbes, making her one of the richest women and youngest billionaires in China today.

This photo of Yang, who prefers to keep a low profile, was reportedly taken eight years ago during her wedding ceremony.