China Ranks Number One in the Hurun Global Rich List 2016

BENGALURU: The growing population of ‘Billionaires’ is not hindered, even though the world’s economy is going through a tough phase. Hurun Global Rich List 2016 displays the list of billionaires present in each region.

China tops the list with 568 billionaires - has increased by 90 in number as of last year. With this record, china beats USA and snatches number one position in the list. USA, with 535 billionaires is reduced by 2 and holds the second position. USA has 11% of billionaires who is self made without any parental support. USA is the world’s capital for immigrant billionaires, attracting 52 billionaires.

The combined net worth of Chinese billionaires is 1.4Tn dollars which is similar to the GDP of Australia. China is able to produce more and more billionaires because of the prominence real estate business takes. It has generated about 117 rich people, followed by Manufacturing and Tech with 94 and 68 respectively.  Wang Jianlin, of Wanda was the richest Chinese with 26Bn dollars, just ahead of Li Ka-shing, Jack Ma, of Alibaba was fourth with 21Bn dollars. China also consists of 5 cities which are in top 10 super wealth creators. 

Apart from retail, Technology overtakes the Investments industry to become the main source of wealth for American billionaires. New York has the highest concentration of billionaires, with 93, followed by San Francisco and LA on 28 and 21 respectively .Tech, investments and retail made up 122, 105 and 52 billionaires. The combined wealth of the US billionaires was 2.4 Tn dollars, just a little less than the GDP of France.

India bags third place in the Hurun Global Rich List 2016. The combined wealth of the Indian billionaires is shot up by 16 percent to 308Bn dollars. Manufacturing, Pharmacy and Tech are the preferred sectors with 22, 20 and 15 billionaires respectively. India possesses 111 billionaires includes an Indian origin SP Hinduja family, the richest people living in the UK; followed by Mukesh Ambani  whose net worth is 26Bn dollars, one of the richest Indian along with Flipkart founders Sachin Bansal and Binny Bansal.

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