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China 2nd To US In Billionaire Count

 - Oct 10, 2007
References: & bloomberg
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.