China led the world in the minting of new billionaires in 2019 according to the latest Hurun Report on the world’s ultra-affluent.
The Hurun Global Rich List 2020 indicates that China accounted for around 40% of the world’s new billionaires last year, producing 182 out of 479 in total. The US by contrast produced 59 new billionaires, lifting its national total to 626.
The world is currently host to 2,816 “known” billionaires, hailing from 71 countries and 2182 countries in total.
According to Rupert Hoogewerf, chairman of Hurun Report Inc, China currently has more billionaires than the US and India combined.
Beijing has been the city with the largest number of billionaires for five years running, with 110 currently residing in the Chinese capital, as compared to 98 billionaires in New York.
China accounts for five of the 10 cities in the world with the largest number of billionaires, which include Shanghai (83), Hong Kong (76), Shenzhen (75), Guangzhou (45).