Rupert Hoogewerf
Rupert Hoogewerf

Economic growth in China might be slacking, but the number of billionaires has grown in a record speed, says Hurun founder Rupert Hoogewerf in his latest report. With more than 200 billionaires more in one year, China overtook the number of US billionaires, he tells AFP.


The number of billionaires in China has overtaken that of the United States for the first time, an annual survey said Thursday, despite slowing growth in the world’s second-largest economy.

Communist-ruled China now has 596 billionaires, up a “staggering” 242 over the last year, Shanghai-based luxury magazine publisher Hurun Report said, surpassing the 537 Americans.

“Despite the slowdown in the economy, China’s richest have defied gravity, recording their best year ever,” Hurun Report Chairman Rupert Hoogewerf said in a statement.

Real estate and entertainment magnate Wang Jianlin dethroned founder of e-commerce giant Alibaba Jack Ma as the country’s richest person, Hurun’s annual wealth ranking showed.

More in AFP.

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