The Hurun Report, a Chinese financial data analytics and research company has uncovered some fascinating facts about the world’s billionaires. Their Global Rich List for 2018 shows just how wealthy Asia has become while also highlighting the fact that China is pulling far ahead of the US in terms of creating new billionaires.
The total wealth of the world’s billionaires increased by a staggering 31% to US$10.5 trillion, equivalent to 13.2% of global GDP, and almost double the 7% of global GDP six years ago.
It has been an outstanding year for billionaires: 1508 saw their wealth increase and there were 567 new faces.
Chinese billionaires are pulling away from the USA for the third year running, 819 compared with 571. Just two years ago, they were neck and neck at 534 and 535. Hoogewerf said, “China is going through an amazing period of entrepreneurship, adding 210 billionaires in the past year.”
Of the top 10 cities with billionaires, Beijing tops the list followed by New York, Hong Kong, Shenzhen, Shanghai, London, Moscow, Mumbai, Bangkok and Huangzhou. If you include Hong Kong, Chinese cities hold five of the top 10 positions.
The Number of Billionaires By Country