Saturday, September 24, 2011

China has more billionaires than the US - Rupert Hoogewerf

Rupert Hoogewerf
China has 270 billionaires, tells Hurun founder Rupert Hoogewerf in the Want China Times, more than the US, although the Hurun Rich list 2011 does not give all their names.
The [latest] report also stressed that as Chinese people are often secretive about their wealth, it is not obvious that China is now likely to have more billionaires than the United States. The's rapid economic boom is best illustrated by the fact that when Hurun released its first report in 1999, China did not have any dollar billionaires. 
The ... list is the complete version, listing 1,000 corporate executives with personal wealth of 5.9 billion yuan (US$923.4 million) on average. This represents a growth of 20% from a year earlier. The lower threshold of the list is now 2 billion yuan (US$313 million), double that of last year. The average age of the listed executives is 51. 
"This year, China's rich people outpaced all others in the world in creating wealth," said Hoogewerf. 
The report also highlighted that Sany Group was one of the wealthiest publicly-traded companies in China, with eight of its shareholders joining the billionaire club.
More in Want China Times. Rupert Hoogewerf is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch.
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