The owner of a Shenzhen car and battery maker has emerged from the growing pack of Chinese millionaires to be named the richest person on the mainland after a boost to his wealth driven by an investment from Warren Buffett.

Wang Chuanfu, the founder and chairman of BYD, jumped from 103rd to first place with a net worth of $5.1bn, according to the annual Chinese rich list compiled by Hurun, a Shanghai-based consultancy.