Beijing becomes the "capital" of billionaires in the world

(Baonghean.vn) – Beijing has surpassed New York to become the city with the most billionaires in the world, with 100 billionaires currently living there, 5 more than New York. Shanghai, China's commercial center, is in 5th place.

Hurun, a company that measures wealth in China, publishes its annual Global Rich List, which compiles the wealth of the world's US dollar billionaires. The report shows that Beijing has welcomed 32 new billionaires since 2015, four more than New York.

Beijing – City of New Billionaires.

Overall, China has also surpassed the United States to become the country with the most billionaires in the world. China now has 568 billionaires while the United States contributes 535. The richest man in China is Wang Jianlin, with an estimated fortune of $26 billion.

Hurun Chairman Rupert Hoogewerf noted that China's wealth growth has continued despite the economic slowdown and domestic stock market turmoil. China's billionaires boast a combined wealth of $1.4 trillion, equivalent to Australia's GDP.

Mr. Hoogewerf told the AP news agency that the reason for the growth could be due to the market management mechanism in China that allows companies to massively issue new shares after conducting IPOs many years before.

However, the Hurun list of top 10 billionaires is still dominated by Americans.

In first place is still Bill Gates with an estimated net worth of 80 billion USD, followed by legendary investor Warren Buffett with a net worth of 68 billion USD. In third place is the famous Spanish fashion tycoon Amancio Ortega with a net worth of 64 billion USD.

Thanh Hien

(According to BBC)