It's a known fact that the United States is the billionaire capital of the world; the country was however shaken when a new country took over. As of the Celebrity Net Worth, China is making its way into the list of billionaires as they currently have 242 new billionaires over the past year.
As per the website, it's a 70% jump in its billionaire population. The increase exceeded the United States list. As per the Hurun Rich List, the United States has 537 billionaires while China on the other hand increased their numbers to 596.
The website then added that by August 14, which is the year end, China was able to produce 5 more billionaires. They came up with the list at the start of China's stock market nosedive, which made it unclear if the billionaires included in the 596 list are still worth billions as they might have decreased their value already. During the cut-off date, China's stock market was off 30% since it started it peak on June, since then, the markets have dropped by 14%. The decrease may have been drastic; it's still the best year for China as the lists for the riches people increased.
As per CNBC, Hurun Report's chairman and chief researcher, Rupert stated:
"Despite the slowdown in the economy, China's richest have defied gravity, recording their best year ever, and creating more wealth than any country has ever done before in a year."
As of August, the richest man in China is the chairman of conglomerate Dan Wanda is Wang Jianlin. He was able to get the billionaire spot from Jack Ma of Alibaba.
Hoogewerf then added:
"The influence of these top entrepreneurs is growing, as we saw in September when President Xi took nine of the Hurun Rich List in his official 15-strong entourage to visit the U.S.,"
