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China is home to the world’s most billionaires

THE number of Chinese billionaires overtook that in the US for the second year and the two countries combined have half the billionaires in the world, a release by the Hurun Rich List shows today.

The number of Chinese billionaires added 41 to 609 as of January this year, with the figure adding 17 to 552 in the US, the latest release shows.

The Hurun Global Rich List 2017 ranked 2,257 billionaires from 68 countries and from 1,811 companies and their total wealth increased 16 percent to US$8 trillion. The combined net worth of the Chinese billionaires is US$1.6 trillion.

Wang Jianlin remains the top ranking billionaire in China, with his wealth adding 15 percent to 205 billion yuan (US$29.6 billion) and his global ranking up two notches to the 19th position.

Baoneng Group chairman Yao Zhenhua saw the fastest growth on the list, with his net worth rising almost eight-fold to US$15 billion.

SF Express chairman Wang Wei shot to the third spot following an initial public offering in February which propelled his wealth to US$27 billion, just behind Wang Jianlin and Jack Ma.

“The world today has 5000 dollar billionaires, assuming that for every one we have found we have missed at least one. While some billionaires go to extraordinary lengths to conceal their wealth, for the most part it is that they are discreet and prefer operating under the radar,” said Rupert Hoogewerf, Chairman and Chief Researcher of Hurun Report

The real estate industry has generated 120 billionaires in China followed by Manufacturing and TMT with 115 and 78 respectively.


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