China’s Elusive Billionaire Count

on February 4 2011 | in Lifestyle Trends | by | with No Comments

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Billionaire counts fascinate so many. Part of the preoccupation is trying to determine a country’s wealth through its wealthy. Then, there is the bragging rights that come with having the highest number of billionaires.

Recently, wealth-research firm Wealth-X, released its count of mainland billionaires.

Wealth-X estimates there are nearly 11,500 individuals or families in Mainland China worth more than $30 million. The collective net worth of Mainland China’s ultra high net worth category is at least $1.65 trillion.

The company says its data is well researched from various government and banking sources, proprietary research and media reports, but it really is anyone’s guess what the “true” number is.

What we do know is that China’s wealthy are getting richer, especially those at the top. Those with a net worth of more than $500 million control $725 billion, or more than 40% of the total wealth of the ultrahigh net-worth Chinese, according to Wealth-X.

The Hurun Report, which tracks China’s wealthy and compiles an annual China Rich List, says there are at least 189 billionaires in China. But founder Rupert Hoogewerf has said “the real number may be more like 400 or 500,” possibly surpassing the U.S.

[wsj]
image source: wealth-x, autoblog

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