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  • Title
    Co-CEO and Executive Director
  • Affiliation
    Ping An
  • Country
    China
  • 2020 Rank
    2

Ping An, the $192 billion insurance and technology giant co-led by Tan, a McKinsey alum, was a darling of the pandemic’s early days. In 2020, nearly 1 million people used its Good Doctor telehealth app every day as COVID fears kept patients from visiting hospitals and doctors’ offices. The service earned $1 billion in revenue for the company in 2020, up 36% year on year. In the first half of 2021, Good Doctor retained its hot streak, raking in nearly $600 million in revenue, a 39% increase from the year prior, and hitting 400 million registered users. With COVID in China contained but still looming, Tan must now navigate two new two tsunamis hitting the mainland—and Ping An’s business: possible contagion from indebted real estate developers and Beijing’s regulatory crackdown. An impairment Ping An took in the first half of 2021 for its investment in troubled China Fortune Land Development shaved $3.2 billion off profits, which dropped profits 16% for the period, and its stock tumbled roughly 40% between January and October 2021 as investors feared a government crackdown on the insurance industry.

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