Ma Yun, also known as Jack Ma, crowns the list of the richest people in China with $58.8 billion, according to the Hurun Research Institute.

Ma Huateng, also known as Pony Ma, ranked second, with his wealth up 50 percent to $57.4 billion. Zhong Shanshan, founder of Nongfu Spring Co Ltd and YST, grabbed the third spot with $53.7 billion.

"The world has never seen this much wealth created in just one year. China's entrepreneurs have done much better than expected. Despite COVID-19 they have risen to record levels," said Rupert Hoogewerf, Hurun Report chairman and chief researcher.

Let's take a look at the top 10 richest people in China on Hurun richest list.