Ethnic Chinese make up 1/5th of the world’s billionaires
April 27, 2015 Category Macro-economy, Weekly
Ethnic Chinese account for a record one-fifth of all billionaires in the world this year, rising from 17.6% in 2014, according to the China Rich List 2015 compiled by the U.S. business magazine Forbes. The 370 billionaires identified each had at least USD1 billion in net assets and were led in the wealth stakes by 86-year-old Hong Kong magnate Li Ka-shing, with an estimated USD33.3 billion in assets, followed by fellow Hong Kong property tycoon Lee Shau-kee and Dalian Wanda Chairman Wang Jianlin. In all, 213, or about 57%, of the billionaires came from the mainland, 9% came from Hong Kong and 9% from Taiwan. The rest came from other countries. Collectively, their wealth has grown by more than 20% annually over the last three years, with mainland businesspeople accounting for a growing share of the fortunes. This year’s top 10 richest included five people from the mainland, up from one two years ago. Four Hong Kong tycoons were among the 10 richest, down from five in 2013. Three mainland internet pioneers – Jack Ma of Alibaba, Pony Ma of Tencent, and Robin Li of Baidu – were among the top 10. Ma was fourth on the list, with his net assets rising 127% in value since last year. Li Hejun, founder of solar panel maker Hanergy, was fifth, with his fortune more than doubling in the year. Real estate was the biggest source of Chinese billionaires, accounting for 80 members of the super-rich, followed by retail with 25 billionaires. Pharmaceuticals, biotechnology and finance were next. Liu Qiangdong, the 40-year-old founder of business-to-customer shopping platform JD.com is the youngest in the top 100 with a USD7.4 billion fortune, the South China Morning Post reports.
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