Four hundred Chinese billionaires with a net worth of at least 7.07 billion yuan ($1 billion) made the China's Richest 2019 list published by Forbes China on Nov 7. Eight of the listed billionaires hailed from Xiamen, East China's Fujian province.

Jack Ma (or Ma Yun), founder of Alibaba Group, Ma Huateng of Tencent, and Xu Jiayin of Evergrande placed first, second, and third, respectively.

Lin Xiucheng, head of San'an Optoelectronics Co with a total net worth of 15.98 billion yuan, is the richest man in Xiamen. He is followed by Ling Longan of Yuzhou Group and Ke Xiping of Hengxing Group.

In recent years, the number of billionaires in the internet industry has boomed with the rise of live-streaming services and short videos, as well as 5G technology. The relative wealth of billionaires in traditional industries has fallen significantly.