NEWS WORLD! China tops US in numbers of billionaires

NEWS WORLD! China tops US in numbers of billionaires


China’s annual rich list has suggested that, once again, the nation has more dollar billionaires compared to the US, and the difference is widening.

Alibaba’s Jack Ma was second, with his riches having risen 41% from a year ago.

Shanghai publishers Hurun compiles the annual list and regularly compared to the Forbes list in the US.

The Hurun Report’s abundant list is among the most closely-observed and precise appraisals of riches in China. The annual report was published for the previous 18 years.

Before this season, the publisher released a different, international list, showing that those were outnumbered by the number of billionaires in China in the US for the first time.

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

Worldwide reach

On top of the China rich list is Wang Jianlin, who sits on a personal fortune of $32.1bn (£26.4bn).

His company Dalian Wanda has made headlines through the year with a number of high profile forays into the US movie markets. It has taken over Legendary Pictures, in addition to striking an alliance with Sony

Pictures and stepping into US and UK theater chains.

Alibaba’s Jack Ma is a close second with $30.6bn, and Pony Ma of internet and on-line gaming giant Tencent comes third with $24.6bn.

The largest increase came from Yao Zhengua of investment and real estate firm Baoneng Group, whose wealth jumped by 820% to $17.2bn, placing him in fourth position.

Hurun chairman Rupert Hoogewerf said Mr Yao’s rise illustrated a shift in China’s maturing market.

Robin Li and Melissa Ma of search engine Baidu have a fortune of $14.7bn, ranked eighth while creator of smartphone manufacturers Xiaomi, Lei Jun, dropped out of the top 10 to number 14 as rivalry in China’s smartphone marketplace intensified.

Most of China’s billionaires live in Beijing, followed by Shanghai Shenzhen and Hangzhou Hangzhou.

Internationally, Microsoft founder Bill Gates top the Forbes rich list followed by Amancio Ortega of Zara and renowned investor Warren Buffett.