The Hurun Report , which tracks wealthy Chinese, has published its 2008 list of the wealthiest artist by sales. Wu Guanzhong , the modernist artist who is in his 90s, topped the list with about $50 million in sales in the past year. Zhang Xiaogang ranked No. 2 with about $38 million in art work sales. The ranking also listed sales per square foot: Wu Guanzhong 's works sold for about $125,000 per square foot. Zhang Xiaogang sold for about $98,000 per square foot