In the number of billionaires, China has solidly taken over the top position at the Hurun rich list of this week, says Rupert Hoogewerf, chairman and chief researcher of the Shanghai-based research, media, and investments group, at the South China Morning Post. “Billionaires are at world-record numbers, largely on the back of surging global stock markets, with AI leading the charge, and China’s going global.”
The South China Morning Post:
More of the world’s billionaires live in China than anywhere else, after stock market gains and artificial intelligence generated a record number of billionaires globally, according to the latest Hurun Global Rich List.China overtook the United States to recapture bragging rights on the annual report released by Hurun Group on Thursday, with 1,110 billionaires out of 4,020 globally. China added 287 billionaires since the previous edition of the report, more than recouping its losses over the last three years, the report said.
AI fostered two new Chinese billionaires, Yan Junjie of MiniMax with US$3.6 billion and Liu Debing of Knowledge Atlas Technology JSC, better known as Zhipu, with US$1.2 billion.“The concentration of economic power continues,” said Rupert Hoogewerf, chairman and chief researcher of the Shanghai-based research, media and investments group. “Billionaires are at world-record numbers, largely on the back of surging global stock markets, with AI leading the charge, and China’s going global.”
Globally, 114 billionaires come from AI companies, with 46 joining for the first time, making AI the single largest generator of new billionaires…
“What makes money today is completely different from a decade ago,” Hoogewerf said. “Wealth was created faster last year than at any point in the Hurun Global Rich List’s history. We saw a record of over 700 new faces – that’s two a day for every day of the last year.”
By city, New York remains the world’s billionaire capital with 146, up 17. Shenzhen surged to second place, adding 47 to 132, followed by Shanghai, Beijing and London. Hong Kong has 88 billionaires, up 14 from last year, ranking seventh. Li Ka-shing and Victor Li Tzar-kuoi, his eldest son, are listed together at 54th on the list.
More at the South China Morning Post.
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