China has more billionaires than the US

China has more billionaires than the US

China has more billionaires than the US

According to the Hurun Rich List 2010, China now has many more billionaires than the US.

The Hurun Rich List ranks 1,363 individuals across the globe who have personal wealth of over one hundred and fifty million dollars.

Established as a research institute in 1999 by British accountant Rupert Hoogewerf, Hurun Report Inc. has grown into a leading publishing group in Shanghai, China, targeting China's entrepreneurs and high net worth individuals.

What's even more interesting is eleven of the top twenty, self-made female billionaires are also Chinese.

Zhang Yin, founder and chairwoman of Nine Dragons Paper, is top of the list with an estimated fortune of 5.6 billion US dollars.

Nine Dragons Paper, established in 1995, is a recycling company and the largest producer of containerboard products in China.

Wu Yajun, chairwoman of Longfor Properties Co. Ltd., ranks second with a four billion dollar fortune.

Founded in 1994, Longfor properties is a real estate company and has ten real estate developments throughout China.

Chan Laiwa of Fu Wah International, a well-known Hong Kong registered multinational firm, ranked third with 1.1 billion dollars.

In comparison, US talk show host Oprah Winfrey ranked ninth on the list with 2.3 billion dollars in assets. The British author of the Harry Potter books, J.K. Rowling, ranked twentieth with assets of one billion dollars.

Rupert Hoogewerf, compiler of the Hurun Rich List commented; "There are 189 US Dollar billionaires that we know of, suggesting that China today has more billionaires than anywhere else in the world, four hundred to five hundred billionaires, surpassing even the U.S."

This is in contrast to the Forbes Magazine 2010 Billionaire List which counted only sixty-four Chinese billionaires.

"China is clearly the leader for women in business," Hoogwerf added.

"Not only is 2010 the first time in ten years a property tycoon has not made the top five, but it is also the first year that a construction equipment manufacturer has made more than any property tycoon."

"It is the modern equivalent of the California gold rush when selling shovels to the gold miners was the guarantee of success," concluded Rupert Hoogewerf.

Article source: Ocean Villas Group

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