Beijing, Shanghai and Guangzhou, have the highest concentration of millionaires. Out of 960,000 individuals with a net worth of CNY10 million, Beijing accounted for 170,000, or 17.7%. It also topped other rich lists by having 10,000 people with personal wealth exceeding CNY100 million, and 400 billionaires. Shanghai and Guangzhou were respectively a close second and third in each of the wealth categories. The 960,000 people were 39 years old on average, and those who were 10 times richer had an average age of 43, according to the Hurun Research Institute, the publisher of the annual  China Rich List. There was a 9.7% rise in the number of people with assets of more than CNY10 million, while the number of people with assets exceeding CNY100 million rose 9.1% to 60,000 this year from 2010.