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More Billionaires in China than the US or any other Country

691 views · Published 13 October 2016 · 3:10 · Indexed 21 October 2026

Channel: The 2% Brief · 2016 · People & Blogs

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More Billionaires in China than the US or any other Country

Today is Thursday 13th October 2016 and we are briefly covering the announcement today that China has more dollar billionaires than the US, and the gap is widening. 

The Hurun Rich List report which has been published for the past 18 years (and is equivalent to Forbes Rich list in the US) highlights that there are 594 Billionaires in China compared to 535 in the US.

Property magnate Wang Jianlin of Dalian Wanda, tops the list with an estimated fortune of $32.1 bn. Alibaba's Jack Ma was second with $30.6 bn, with his wealth having risen 41% from last year.

However, none of these guys as yet, make it into the global top 20; at the top of which sits Bill Gates the founder of Microsoft, with a net worth of some $81bn

The interesting aspect of the Chinese list is the industries from which the billionaires are coming from. Traditionally it was from trading, followed by manufacturing, real estate and IT and today it’s about using the capital markets for financial investments. This trend is beginning to show a trend similar to that seen in the West previously, and lends some support to the fact that eventually China may indeed become one of the, if not the, major player in Capital and Currency markets.

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