Zhong Shanshan, who owns bottled water manufacturer Nongfu Spring, has topped the list of China's richest residents, according to a report by the Hurun Research Institute.

Zhong Shanshan, 68, topped the list of China's richest people for the second year in a row. His fortune rose 17 percent over the year to $65 billion.

In second place with a fortune of $35 billion is Zhang Yimin, the 39-year-old founder of ByteDance, which owns the TikTok app. Over the past year, his fortune dropped by 28%.

The third position was taken by the king of batteries, the founder of China's largest producer of fuel cells and lithium-ion batteries CATL, 54-year-old Zeng Yuchun with a fortune of $32.9 billion, for the year he became poorer by 28%.

Founder of China's largest Internet company Alibaba Group 58-year-old Jack Ma, who was voted China's richest man in 2020, this year ranked only ninth with a fortune of $ 25.7 billion, he was 29% poorer during the year. Jack Ma ranked fifth on the 2021 list.

According to Hurun, the number of people in China with more than $10 billion in wealth dropped by 29 to 56 in 2022. The total number of dollar billionaires fell by 239, to 946 people. The number of people whose fortune exceeds five billion yuan (about $710 million) decreased by 11%, to 1,305. Their total wealth for the year decreased by 18%, to 3.5 trillion dollars.

The ranking was based on data as of Sept. 15.