Chen Ningning & family (陳寧寧家族)

Age: 40

2011 net worth (US$): 1.8 billion

2010 net worth (US$): NA

General ranking: 43

Company: Pioneer Metals Holdings Co., Ltd.

Headquarters: Hong Kong

Title: President and General Manager

Main focus: Investments

Chen Ningning, who graduated with an MBA degree from the New York Institute of Technology in 1994, established Pioneer Metals at the age of 25 with her mother, Lv Hui, who is the daughter of Lv Dong, a former minister of metallurgical industry. The company is mainly engaged in iron ore trade, as well as real estate, logistics and financial services. Almost all medium- and large-scale iron and steel companies in China have purchased iron ore from Pioneer.

Seizing upon opportunities created by the steel boom and industrial reforms, Chen has led her company through rapid growth and expansion. In 2007, Chen sold her 28-percent stake in China Orient Group for US$647 million to Indian steel giant Lakshmi Mittal. Chen is dubbed "Steel Princess" as she has built up her wealth at such a dazzling pace.