Listing the elite

• Source: Global Times
• [10:48 July 27 2010]
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Meet the rich

Many of Hoogewerf targets were not only uncooperative, but also went out of their way to stand in his. At first, almost 90 percent were unwilling to be on the list, Hoogewerf said. In 2000, Ren Zhengfei, the founder of Huawei Technologies Co. Ltd., a top Chinese telecom company, tried to prevent his name from ending up on the list.

"I received countless letters from his lawyers, which really stressed me out," Hoogewerf said.

Many were reluctant because of possible financial problems in their background, Hoogewerf said. Others just didn't like the spotlight.

Then there were those who sought to get on the list to promote themselves or their companies.

One year, Hoogewerf intended to include an entrepreneur who, according to his company's financial statements, had made a lot of money. "But when I went there and saw his company's products, they weren't as good as people had said. Plus, he didn't answer any of my questions," Hoogewerf said in the interview. "Instead he just asked me to write good things about him. I don't think that's a responsible answer, so I checked with local journalists and experts in that field, and it looked like he wasn't that wealthy, so I took his name off the list."

On his own

In 2002, Hoogewerf began publishing his own list under his own publishing company, Hurun Report Inc. The Hurun Rich List, which is published every October, has grown by leaps and bounds. It has become the centerpiece of an annual event that receives a lot of attention from China's private industry.

Last year, the list included 1,000 people, each with personal fortunes of at least $150 million. For this list, however, Hoogewerf was able to meet with almost 95 percent of the businessmen.

Hurun Report Inc. now publishes a luxury business magazine and a series of other lists, such as the Hurun Philanthropy List, the Hurun Art List and the Hurun Wealth Report. "We not only pay attention to how people make money, but also to rich people who are looking forward to improving their lifestyle and spending money," he told the Global Times.

Although some have said that the Hurun Rich List is going downhill and has to make other lists to attract people's attention, Hoogewerf defends his flagship product. "People are always interested in people. That's why I prefer making the rich list rather than only using statistics," he said. "Of course, people's attitude towards the rich list will change as they get familiar with it, but the essence of the rich list is telling stories about rich people, and how the stories of these people are telling the story of China."