Rupert Hoogewerf

The number of billionaires in China (in US dollar terms) has doubled over the past two years, Hurun founder Rupert Hoogewerf told The Telegraph. The number of super rich is exploding according the the latest China Rich list.

The Telegraph:

The Hurun rich list, which has been tracking China’s tycoons since 1999, on Wednesday said it had counted 271 dollar billionaires in China last year, up from 130 in 2009.

China now has the second most billionaires in the world, after the United States with more than 400.

“The numbers are growing much faster than people expected,” said Rupert Hoogewerf, the founder of the list, who added there could be the same number of billionaires again who are off his radar, keeping their assets as quiet as possible.

“In the past few weeks, I have also been speaking to a number of people who have cashed out of their first empires and are busy building their second,” he said. “Many billionaires are also much more comfortable in their skins. The shareholder structures of their companies are becoming clearer and clearer and many of them are also co-opted into the political system.” Mr Hoogewerf said part of the reason for the huge increase in the numbers of super-rich had been a wave of stock market flotations, despite the financial crisis.

More in The Telegraph

Rupert Hoogewerf is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch.

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