Media365
China overtook the United States to recapture bragging rights on the annual report released by Hurun Group on Thursday, with 1,110 billionaires out of 4,020 globally. China added 287 billionaires since the previous edition of the report, more than recouping its losses over the last three years, the report said.
“The concentration of economic power continues,” said Rupert Hoogewerf, chairman and chief researcher of the Shanghai-based research, media and investments group. “Billionaires are at world-record numbers, largely on the back of surging global stock markets, with AI leading the charge, and China’s going global.”
The global list grew by a net of 578 billionaires over the last year, with China, including the mainland, Macau, Hong Kong and Taiwan, accounting for half of the new entrants.
