Jack Ma, co-founder and former executive chairman of China's Internet tycoon Alibaba Group, has climbed to the richest Chinese together with his family, with total assets exceeding 270 billion yuan (39 billion US dollars), up 35 percent from the previous year, in accordance with Hurun China Rich List, the country's first and most influential rich list.

The growth in his wealth came principally from two trillion-yuan companies – Alibaba Group Holding Ltd and Ant Financial Services Group, the dominant Chinese fintech company.

As of the end of September, Alibaba has a market value totaling 2.7 trillion yuan (390 billion US dollars), making it the most valuable company in China and among world's top 10. Meanwhile, the value of Ant Financial also stands at one trillion yuan (144 billion US dollars).

In the first half of this year, Alibaba's sales revenue ramped up by over 70 percent to 80 billion yuan (11.5 billion US dollars) compared with the same period last year, and Ant Financial's pre-tax profit shot past 9.1 billion yuan (13.1 billion US dollars) in the fiscal year 2018 with a surge of 65 percent.

Sixty percent of the companies making the list generate their wealth from industries of manufacturing, real estate, investments and IT, among which the manufacturing industry is still the most important source of wealth despite a slight drop of 1.8 percent in individuals from the sector. Real estate occupies the second place, edging up from 14.6 to 14.9 percent, whilst finance and investments overtook IT and take the third spot.

It also mentioned real estate magnate Xu Jiayin, last year's richest person, claimed second place for a wealth drop about six billion US dollars, followed by Pony Ma Huateng of China's tech giant Tencent, ranking the third with 35 billion US dollars.