tirsdag 20. oktober 2020

China’s billionaires see biggest gains ever, adding more than $1.5 trillion to their fortunes

A spate of IPOs and robust tech growth helped China’s billionaires add $1.5 trillion to their wealth, bringing the total worth of China’s billionaires to $4 trillion, according to a new report, which described the increase as the country’s fastest growth ever.

China minted 257 billionaires over the past year — averaging five new billionaires a week — bringing the total to 878, according to the Hurun Rich List 2020, which tracks wealth in China. That total would exceed the 788 billionaires in the U.S., as measured by Wealth-X. (Wealth-X and others, however, use different methodologies for China and put China’s billionaire count lower than that of the U.S.)