On March 2, Hurun Report released the Hurun Global Rich List 2021, which gives a ranking and breakdown of the world’s billionaires (in USD).
According to Hurun Report Chairman and Chief Researcher Rupert Hoogewef, “China has added more new faces than the rest of the world combined” in the past year, with EVs, e-commerce, blockchain and biotech notably the fastest-growing industries.
The combined wealth of billionaires in China is USD4.5 trillion, more than Germany’s GDP.
Here are six staggering stats on China’s super-rich elite.
is the number of ‘known’ dollar billionaires in China – more than the total from the next three countries (US, India and Germany). In 2020, China added 256 billionaires and is the first country to have more than 1,000 billionaires. Hoogewerf said the number of dollar billionaires in China may actually be closer to 2,500 – accounting for undisclosed assets.
is the number of Chinese cities in the top 10 for the highest concentration of dollar billionaires. Beijing took the crown as the world’s billionaire capital for the sixth consecutive year, with 145 billionaires living in the city.
Beijing, the city of billionaires. Image via Unsplash
Shanghai is listed second followed by Shenzhen (#4), Hong Kong (#6), Hangzhou (#8) and Guangzhou (#9). This past year, the capital city added 35 billionaires.
is the net worth of ‘Bottled Water King’ Zhong Shanshan, who became the first Chinese national to make it into the Hurun Global Rich List Top 10. Known for popular bottled water brand Nongfu Springs, Zhong also has a venture in the pharmaceutical sector and is now the richest man in Asia. Drink up!
Nongfu Spring. Image via @syyy乐/Weibo
is the percentage of the 231 ‘known’ self-made women billionaires who live in China. The China list is led by Zhong Huijuan, CEO of drugmaker Hansoh, with USD23 billion.
is the age of vaping brand Relx’s founder Wang Ying. With a net worth of USD11 billion, she is the most successful self-made female entrepreneur under 40 in the world.
is how much Huawei founder Ren Zhengfei’s wealth dropped in 2020. Ren was one of the few to lose wealth in a year that saw many of the world’s richest make more money than ever. Ren’s wealth is closely tied to Huawei, which has been dealing with US sanctions as well as allegations over intellectual property theft.
With so many new billionaires, there may be a noticeable difference in China’s household income distribution. In 2019, China’s Gini Coefficient – a statistical measure intended to represent wealth inequality – was 0.465, according to CEIC. This represents a big income gap and is on par with many developed countries around the world, including the US.
[Cover image via Unsplash]