China's wealth surges(again)

Discussion in 'Economics' started by Grandluxe, Sep 8, 2011.

  1. September 7th, 2011
    02:00 PM ET

    China's billionaires double

    The number of billionaires in China has doubled in the past two years, according to the latest rich list by Hurun Report magazine, giving China the second-largest number of billionaires in the world.

    Liang Wengen, chairman of construction company Sany, topped this year’s list with a fortune worth about $11 billion. He is now one of 271 US dollar billionaires on the list – up from 130 in 2009 – meaning China is now second only to the United States by this measure.

    According to this year’s list, four of the top 10 made their fortunes in property, while a fifth made his in property and investments. The youngest on the list is Ohio State University graduate Yang Huiyan, majority shareholder of Country Garden Holdings, who is aged just 30.