Caixin
FINANCE

Asian Rich List Swells on Billionaire Boom in China

About 69% of China's billionaire-linked businesses are publicly listed companies, including Alibaba Group Holdings Ltd., founded by Jack Ma (above), whom Forbes magazine said in May is the Chinese mainland's richest man. Photo: Visual China
About 69% of China's billionaire-linked businesses are publicly listed companies, including Alibaba Group Holdings Ltd., founded by Jack Ma (above), whom Forbes magazine said in May is the Chinese mainland's richest man. Photo: Visual China

The Chinese mainland added an average of two new billionaires to its super-rich list every week last year, according to new report, helping Asia replace the U.S. as the world's most fertile cradle for individual wealth.

The report released Thursday by the investment firm UBS AG and consultancy PricewaterhouseCoopers (PwC) said 101 of the 162 Asians whose personal wealth passed the $1 billion threshold for the first time in 2016 were Chinese citizens.

ladingImg
You've accessed an article available only to subscribers
Try 4 weeks for $0.99
SUBSCRIBE
Share this article
Open WeChat and scan the QR code
Copyright © 2017 Caixin Global Limited. All Rights Reserved.