China’s billionaire factory generating four new members a week

http://www.afr.com/news/world/asia/chinas-billionaire-factory-generating-four-new-members-a-week-20180228-h0wsxl

Pony Ma, the founder of technology giant Tencent, is now China’s richest man after his personal wealth overtook rival ecommerce and property tycoons. However, US moguls still top the global rich list, according to Shanghai-based research house Hurun, which says the Communist-ruled country is generating four new billionaires a week.

Greater China now boasts 819 billionaires, after generating an additional 210 during the year, Hurun said in its annual global rich list published Wednesday. The growth rate dramatically outstripped that of the United States, where the number of billionaires rose by 19 to 571. China overtook the United States in the total number of US dollar billionaires in 2015.

Australia ranked 14 on a list of where the world’s billionaires live, with 41. Sydney is home to 18 billionaires. Beijing is the city with the most billionaires with 131 and then New York with 92.

While the growth rate in Chinese billionaires dramatically outstrips the rest of the world, the world’s richest people are still American. Jeff Bezos of Amazon hit first place after adding $US51 billion ($65 billion) to his fortune to hit $US123 billion ($158 billion). Warren Buffet overtook Bill Gates and broke through the $US100 billon ($128 billion) mark after a 31 per cent jump in wealth. Rupert Murdoch ranked 26 with $US32 billion.

Mr Ma, whose Chinese name is Ma Huateng, and whose company owns the social media giant WeChat, came in at 15 on the global list. With a fortune of $US47 billion, he is the richest person in Asia. While Alibaba founder Jack Ma is China’s best known businessman internationally, his ranking slipped six places to 26 with $US32 billion.

Yang Huiyan, the owner of Chinese development giant Country Garden, which has extensive interests in Australia, increased her wealth more than the other Chinese billionaires on the list. Her fortune grew 268 per cent to $US32 billion, ranking her alongside Ma.

Another Chinese billionaire with an Australian connection was Xu Jiayin, the chairman of developer China Evergrande. He is 20th on the list after his wealth jumped 242 per cent to $US41 billion. Mr Xu is best known Australia for being forced to sell a $39 million Sydney Harbour mansion in 2015.

The Hurun Global Rich List 2018 ranked 2,694 billionaires from 68 countries and from 2,157 companies. Total wealth increased by a staggering 31 per cent to $US10.5 trillion, equivalent to 13.2 per cent of global GDP. “Never has so much wealth been concentrated in the hands of so few,” the report’s chief researcher Rupert Hoogewerf said.

———-

“Greater China now boasts 819 billionaires, after generating an additional 210 during the year, Hurun said in its annual global rich list published Wednesday. The growth rate dramatically outstripped that of the United States, where the number of billionaires rose by 19 to 571. China overtook the United States in the total number of US dollar billionaires in 2015.”

from west to east..

“Total wealth increased by a staggering 31 per cent to $US10.5 trillion, equivalent to 13.2 per cent of global GDP. “Never has so much wealth been concentrated in the hands of so few,” the report’s chief researcher Rupert Hoogewerf said.”

no shit..

401

~ by seeker401 on April 11, 2018.

8 Responses to “China’s billionaire factory generating four new members a week”

  1. China Hustle

    https://www.forbes.com/sites/markhughes/2018/03/30/review-the-china-hustle/#3e661bc53357

    Is this TRUE or just another excuse / story for the transfer of wealth of the nation’s working class and their savings and pensions??

  2. From the producers of ENRON: THE SMARTEST GUYS IN THE ROOM comes a Wall Street heist story about a still-unfolding financial crime so big, it has the power to affect all of our wallets. Investors on the fringes of the financial world feverishly seek new alternatives for high-return investments in the global markets, and have found a goldmine in China.

    But when one investor discovers a massive web of fraud, everything else is called into question. Jed Rothstein’s documentary rings the alarm on the need for transparency in an increasingly deregulated financial world by following those working to uncover the biggest heist you’ve never heard of.

    Jed Roth’stein’ , Academy Award nominated and Emmy winning filmmaker
    – we HAVE to question it.

    JED ROTHSTEIN, PRODUCER/DIRECTOR: Academy Award-nominated and Emmy-winning filmmaker Jed Rothstein specializes in hard-to-get stories from around the world that help people understand one another better.

    Whether seeking out heavy metal musicians who become Arab-Spring revolutionaries (PBS’s Before the Spring After the Fall); pioneering doctors (HBO’s Coma and Pandemic); Al Qaeda terrorists (The Oscar-nominated HBO documentary Killing in the Name); defenders of free speech (The 2009 Sundance film Shouting Fire); journalists on the front lines (Independent Lens’ Democracy on Deadline); fundamentalist Christian college kids training to take over Washington (God’s Next Army); or doing a series of short films on everything from over-incarceration to puppetry for the acclaimed series The New Yorker Presents, Rothstein works with people to help them tell their own stories in their own words.

    His films and television programs have played in festivals around the world, enjoyed special screenings at the United Nations, and been broadcast on HBO, PBS, National Geographic, Amazon Prime, The Discovery Channel, IFC, Channel 4, the BBC, CNN and elsewhere. When not loitering in global hotspots, Rothstein has worked as a senior producer on a weekly television show and a consultant and writer for numerous documentaries and web/mobile video outlets. He lives in New York with his wife, the writer Mira Jacob, and their son.

  3. last thing NOTICE that his films and ‘programs’ were given special screenings at the UN

    • okay I lied not the ‘last thing’ 🙂 Looking at his ‘funders’ he’s one of them in my opinion. Propagandist for the insiders.

      Jed has written successful grant proposals and treatments for films and interactive media projects for a range of clients. Funders include: The Ford Foundation, The MacArthur Foundation, The AOL Time Warner Foundation, The Gates Foundation, The Kaiser Health Foundation, ITVS, The Sundance Documentary Fund, The Hartley Film Foundation and numerous television channels and web sites. Samples available upon request.

      Jed also works as a consulting producer, helping other filmmakers and new media creators shape their voices and execute complex productions, especially abroad.

  4. China is essentially in the modern equivalent to the Gilded Age while the US I believe is somewhere between the Great Leap Forward and the Cultural Revolution.

    Strange days.

  5. my friends…the big reset cometh
    are you ready for it.. the Phoenix rises

    https://www.zerohedge.com/news/2018-04-22/ice-nine-comes-china

    • Movements like this might start slowly, but they gain momentum and end quickly. Cash can be expensive to handle because vendors have to hire armored cars to move it, buy machines to count it, pay premiums to insure it and risk losses due to theft.

      Those costs only make sense if they can be spread among a high volume of cash. Once cash usage falls below that critical threshold, the handling costs per unit are too high and merchants quickly abandon cash altogether.

      China may be getting close to that tipping point, and will get there sooner if the government pushes cash off the ledge by regulation.

      This is consistent with the Communist plan for total control of their people.

      Once physical cash is gone, your liberty is gone because government can easily monitor and freeze all digital payments. The only recourse for the Chinese people once their cash is gone will be physical gold and silver.

      This brings me to what I’ve warned about for years…

      It’s what I call “ice-nine.” This refers to government’s ability to lock down the financial system in the next global crisis. And it won’t be just China.

      In the 2008 crisis, governments met the demand for liquidity by printing money, guaranteeing banks and money market funds and engaging in trillions of dollars of currency swaps.

      The problem is that the central banks still have not normalized their balance sheets and interest rates since the last crisis and are unlikely to be able to do so before the next one. Money printing won’t be an option, because central banks have printed too much already. Any more money printing would trigger a complete loss of confidence in fiat money and a mad scramble for hard assets.

      Instead of money printing, central banks and governments plan to lock down the system and not let investors get their money out.

      This will begin with money market funds and then spread quickly to bank accounts, ATMs and stock exchanges until the entire system is frozen.

      • >> This is consistent with the Communist plan for total control of their people.

        come on… i am sure capitalist, commies et al.. they all have the same SOP manual

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