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China passes US in number of billionaires

Driven by rise of information technology and manufacturing.


October 15, 2015
by ASSOCIATED PRESS

BEIJING — A survey has found China has passed the USes in the number of billionaires, driven by the rise of fortunes in information technology and manufacturing.

The Hurun Report, which follows China’s wealthy, said the number of mainland Chinese billionaires rose by 242 this year to 596. It said that surpassed the 537 the company found in the US.

No. 1 on this year’s list was Wang Jianlin, chairman of Wanda Group, which operates hotels, shopping malls and cinemas, at $34.4 billion. No. 2 was Jack Ma, founder of e-commerce giant Alibaba, at $22.7 billion.

New additions to the list include Cheng Wei of taxi-hailing app Didi-Kuaidi.

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