China Is Now the Billionaire Capital of the World

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Chinatopix via AP

From Kwong Man-ki writing at The South China Morning Post:

The number of billionaires in the world grew by 99 to a record high of 2,188 last year, with the majority of new entries coming from Greater China, according to the new Hurun Global Rich List.

The mainland, Hong Kong, Macau and Taiwan provided 90 of the new entries, which swelled the ranks of Chinese billionaires to 568 and meant China overtook the US, which had 535. China’s billionaires had a combined net worth of US$1.4 trillion.

Despite the global slowdown, the wealth of the world’s super-rich jumped 9 per cent to US$7.3 trillion. The list calculated billionaires’ wealth as of January 15.

Read the rest of the story at The South China Morning Post.