Tuesday, March 2nd, 2021
“Lone Wolf” at the very front
China has the largest number of billionaires in the world
China is expanding its lead over the rest of the world: More than 900 billionaires are Chinese. This puts the People’s Republic far ahead of the USA and India.
The number of the super-rich in China continued to rise last year despite the corona pandemic. In the People’s Republic including Hong Kong, 253 new billionaires were added, the number climbed to 922, according to the Hurun Report. This puts China well ahead of the USA with 696 billionaires and India with 177 of these super-rich.
The wealth in China is extremely unevenly distributed: According to the New York Times, 600 million Chinese earn the equivalent of just $ 150 a month – or less.
The publishing house of the same name publishes the Hurun Report every year; According to Hurun, the company’s founder, Zhong Shanshan, rose to be the richest man in China. He also owns parts of the vaccine manufacturer Beijing Wantai. According to Bloomberg, the billionaire stays out of politics and does not come into conflict with the leadership of the Communist Party. In addition, unlike other entrepreneurs, he avoided exclusive business clubs. This reluctance is apparently paying off and has earned Zhong the name “Lone Wolf”.
In second and third place on the Hurun list are the boss of the Internet giant Tencent, Pony Ma, and that of the Tiktok parent company Bytedance, Zhang Yiming. The founder of the online group Alibaba, Jack Ma, follows in fourth place. It fell out of favor in 2020, with the leadership in Beijing halting the IPO of Alibaba subsidiary Ant, which would become the largest of all time.
According to official reports, China has the corona pandemic largely under control; in 2020 it was the only large economy worldwide with economic growth.