Americans still dominate the 2018 Global Rich List, but with four new billionaires a week, China is moving up very fast, says Hurun Rich List chief researcher Rupert Hoogewerf at the release of the annual overview. Tencent’s CEO Pony Ma is now the highest listed Chinese billionaire at no.15, beating Xu Jiayin of Evergrande and Jack Ma of Alibaba this year.
The Hurun Rich List:
The Hurun Global Rich List 2018 ranked 2,694 billionaires from 68 countries and from 2,157 companies in another record-breaking year for the world’s billionaires.
Total wealth increased by a staggering 31% to US$10.5 trillion, equivalent to 13.2% of global GDP, and almost double the 7% of global GDP six years ago. Rupert Hoogewerf said, “Never has so much wealth been concentrated in the hands of so few.”
It has been an outstanding year for billionaires: 1508 saw their wealth increase and there were 567 new faces.
Chinese billionaires are pulling away from the USA for the third year running, 819 compared with 571. Just two years ago, they were neck and neck at 534 and 535. Hoogewerf said, “China is going through an amazing period of entrepreneurship, adding 210 billionaires in the past year.”
It has been a good year for India, claiming back its third place after adding 31 billionaires, on the back of a record performance of the Indian stock markets.
The average lister is aged 63, one year younger than last year.
Rupert Hoogewerf says, “The world today has the best part of 6,000 dollar billionaires, assuming that for every one we found, we have probably at least one if not more, particularly from the Gulf states.”
Hoogewerf continues, “A boom in China, a weak dollar and a 26% hike in Nasdaq have led to a surge in dollar billionaires across the world. The US dollar depreciated 16% against the Euro, 12% against the British Pound, 10% against the Chinese Yuan and 6% against the Indian Rupee. Global economic growth was at 3% last year, the fastest rate since 2011 and a significant acceleration compared with 2.4% the previous year.”
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