Beijing (China) Boasts of More Billionaires than New York

by Uche Onegeria 25 Feb , 2016  

Wang Jianlin, Chinese real estate developer with a net worth of $26 billion.
Image from the web

Just last year, this Chinese capital added not 1 or 5 but 32 people to its already burgeoning list of 100 billionaires, according to Hurun Report’s recent global rich list.

“Despite its own slowdown and falling stock markets, China minted more new billionaires than any other country in the world last year, mainly on the back of new [share] listings,” said Rupert Hoogewerf, Hurun Report chairman.
New York came a not-so-close second with 95 billionaires after having held the title for years.

This Hurun Report’s list of top 5 billionaires is as follows:

  1. Beijing (132)
  2. New York (95)
  3. Moscow (66)
  4. Hong Kong (64)
  5. Shanghai (50)

You should observe that 5 of the top 10 are cities in China (What is it about China?).

Hoogewerf said that it is only about a half of China’s billionaires that are truly accounted for in this report as most of them fly below the radar to hide from the government.

“Think of it like an iceberg, the tip of it is much smaller than the whole,” he said. “We do our best to find [hidden money], but they go to such extraordinary lengths to hide it.”

(What are they teaching them in that country? I am raising my kids there – Mandarin and all)

Edited from CNN money

Image from the web

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