Chinese growing number of millionaires are a different breed compared to those in other parts of the world, tells Rupert Hoogewerf or Hurun, composer of the China Rich List to ABC from Australia.
There’s two things that stand the Chinese super-businessman out from this Western counterparts. The first that he’s self-made. So in Europe, take America, about a third or a quarter of them inherited their money. Here’s there zero inherited money because 30 years ago there was no money, no money in the market at all.
And the second thing is that these people are sending their children to study overseas. This is a phenomenon that’s unbelievable. We estimate that 85 per cent of the millionaire class in China are now thinking of sending their children to study in, it’s America, UK, Australia, Canada are the big four.
STEPHEN MCDONELL: And this is high school as well as university?
RUPERT HOOGEWERF: And this would be predominantly post-grad, you know doing Masters, but as they become richer and as time goes on they seem to be looking to send their children to high school as well.
Rupert Hoogewerf is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers’ request form.
- Chinese rich offer mainly European gifts at new year – Rupert Hoogewerf (chinaspeakersbureau.info)
- New: China’s cash rich list – Rupert Hoogewerf (chinaspeakersbureau.info)
- China’s wealthy have not yet discovered yachting – Rupert Hoogewerf (chinaspeakersbureau.info)
- Most sought-after speakers November 2011 (chinaspeakersbureau.info)