BEIJING: Beijing has replaced New York and become the billionaire capital of the world with the highest number of millionaires for the first time.
A private research firm ‘Hurun’ released a list of globally rich billionaires.
Hurun claimed that 100 billionaires are living in Beijing as compared to New York with 95 and Moscow with 66 billionaires.
The firm claimed that 32 new billionaires joined Beijing last year while only 4 billionaires joined New York.
Chairmaan of Hurun, Hoogewerf said “Despite its own slowdown and falling stock markets, China minted more new billionaires than any other country in the world last year, mainly on the back of new listings.”
He said “What we showed today is that at the super-wealth creation level, the Chinese are now leading.”
He claimed that China has total 568 billionaires with a combined net worth of US $1.4 trillion as compared to US with 535 billionaires.
The research also claimed that Wang Jianlin is the China’s richest person and falls at 21stnumber in the list of the world’s richest people.
The report also claimed that Shanghai ranked at 5th with most billionaires.