Thursday, October 13, 2016

China has more billionaires than US: Number growing despite 20% drop in domestic stock markets & economic slowdown

The number of dollar billionaires in China is growing despite a 20 percent drop in the domestic stock markets and the economic slowdown, the Hurun Report shows. China now tops the US in the number of billionaires.

However, none of China’s super-rich make it into the global top 20.

“Mainland China has 594, down two from last year; Hong Kong, Taiwan and Macao have 94; and there are 66 others in the world, mainly in SE Asia. This compares with 535 billionaires in the US,”said Hurun Report chairman Rupert Hoogewerf.

Chinese property magnate Wang Jianlin has defended his crown as the country’s richest man. The CEO of Dalian Wanda Group has a personal fortune of $32.1 billion ....