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Ben Preiss
China 2nd To US in Billionaire Count (VIDEO)
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The concentration of world’s richest people is shifting. Last year, China only had 15 billionaires, but this year has at least 106. The real figure go actually go beyond 200 as it seem many don’t report their assets. The two richest are women; Yang Huiyan, the 26-year-old daughter of a property developer, is the nation’s wealthiest person with $17.5 billion. Zhang Yin saw the value of her holding in the paper-recycling company she founded, Nine Dragons Paper Holdings Ltd., triple to $10 billion since last year. The pace of China’s growing wealth is astounding, not to mention that China holds the majority of America’s debt and so is indirectly financing the war in Iraq and the whole Bush administration’s debt.
The mainland benchmark CSI 300 Index of stocks has nearly quadrupled in the past year. Hong Kong's Hang Seng Index is up 41 percent this year through yesterday, the strongest annual performance since 1999 if it holds through year-end. Mainland and Hong Kong-based companies raised HK$160.3 billion in Hong Kong this year through Sept. 30, up from HK$133.9 billion last year.
The 800 people on this year's Hurun list are all worth more than $105 million and have a combined net worth of $457 billion. Their average wealth doubled over the past year to $562 million, according to a statement sent by Hoogewerf.
(bloomberg)
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Read More: news.yahoo Via: bloomberg
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