China has 90 new billionaires, according to Hong Kong media. This means that the number of billionaires in Mainland China, Hong Kong, Macau, and Taiwan has reached 568, and that China now has more billionaires than the United States (535). China’s 568 billionaires have a combined net wealth of $1.4 trillion.

Hurun chairman and chief researcher Rupert Hoogewef said that China’s number of billionaires has increased because of recent IPOs. Many have become extremely wealthy overnight.

Beijing was recently named the “Billionaire Capital of the World,” and has more billionaires than New York. Shanghai, Hangzhou, and Shenzhen are also included in the top ten.

Wanda Group Chairman, Wang Jianlin is the richest man in China, and the 21st richest man in the world. He has a net worth of over $26 billion. Hong Kong’s Li Ka-shing held the title before Wang until his assets shrank 22% to $25 billion. Li was previously the 7th richest man in the world and is now the 23rd.

Hoogewerf said that despite the economy, there will not be a decline in the number of billionaires in China in the upcoming year. This is because, China’s rich are taking steps towards diversification in response to the nation’s economic slowdown.

Source: inews.qq.com

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Keywords: Hurun Wang Jianlin Chinese billionaires