View photo Jack Ma, founder of Chinese e-commerce giant Alibaba, has been overtaken as China’s richest man according to a new wealth survey (AFP Photo/Jewel Samad) A Chinese solar energy tycoon has replaced e-commerce giant Alibaba’s founder Jack Ma as the country’s richest man with a fortune of $26 billion, a wealth survey showed Tuesday. Li Hejun, founder and chairman of Beijing-based Hanergy, saw his wealth nearly triple from a year ago, according to the Hurun Report’s Global Rich List 2015. He is now the wealthiest person in China and his global ranking went up 108 notches to number 28, the list showed. Ma claimed the title in mainland China last year after Alibaba completed the world’s biggest IPO with its $25 billion listing on the New York Stock Exchange in September. He dropped to third place in the country with a fortune of $24.5 billion, it said. Ma was overtaken by Li and property baron Wang Jianlin, owner of the sprawling Wanda Group whose net worth was estimated at $25 billion, the report said.
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Solar Stocks Up Following DOE Report, Higher Crude Oil Prices – Yahoo Finance
(NASDAQ: FSLR ) was also putting in a strong performance and recently traded at $45.14, up 6.66 percent. SunEdison Inc (NYSE: SUNE ) was up 5.13 percent Monday to $19.69 and SunPower Corporation (NASDAQ: SPWR ) also traded higher, up 5.06 percent to $25.34. China-based Daqo New Energy Corp (NYSE: DQ ) soared 15.85 percent to $22.80 by Monday afternoon. Investors may also be buying solar stocks due to Mondays increase in crude oil prices. WTI traded at $49.35, up 2.30 percent and Brent traded at $54.50, up 2.85 percent. Deutsche Bank, however, claims that oil has little impact on solar demand. See more from Benzinga 2015 Benzinga.com. Benzinga does not provide investment advice.
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