Major Headlines From the Global List

  1. 1. US$1 TRILLION OF WEALTH WIPED OFF HURUN GLOBAL RICH LIST.
  2. 2. RECORD 430 BILLIONAIRES DROP OFF HURUN GLOBAL RICH LIST. CHINA DOWN 212
  1. 3. 201 NEW FACES, LED BY CHINA AND USA WITH 52 AND 39, FOLLOWED BY INDIA WITH 23
  2. 4. 2,470 KNOWN BILLIONAIRES IN WORLD, DOWN 224 FROM LAST YEAR.
  3. 5. JEFF BEZOS, 55, OF AMAZON ADDS US$24BN TO RETAIN TOP SPOT FOR SECOND YEAR
  4. 6. CHINA LEADS WORLD FOR 4TH YEAR FOR BILLIONAIRES WITH 658, 74 AHEAD OF USAWITH 584. GERMANY, UK AND INDIA FOLLOW.

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  1. 7. DESPITE DIFFICULT YEAR FOR FACEBOOK AND GOOGLE, FOUNDERS MARK ZUCKERBERG, SERGEY BRIN AND LARRY PAGE ALL MAKE TOP 10
  1. 8. JACK MA, 55, OF ALIBABA CHINA NUMBER ONE WITH US$39BN, UP 4 PLACES TO 22
  2. 9. LUXURY SECTOR DEFIED SLOWDOWN WITH STRONG GROWTH, LED BY BERNARD ARNAULT OF LVMH, UP 10% TO 4TH PLACE WITH US$86BN
  1. 10. ELON MUSK JUMPED 10 PLACES TO 30TH WITH US$28BN, ON BACK OF INCREASE IN SPACEX VALUATION
  1. 11. BEIJING WORLD BILLIONAIRE CAPITAL, 11 AHEAD OF NEW YORK. 4 OF TOP 5 CITIES WITH HIGHEST CONCENTRATION OF BILLIONAIRES IN CHINA. LONDON, WITH A LOOMING BREXIT, AT 6TH
  1. 12. HUGE IPOS DURING THE YEAR. WANG XING, 40, OF MEITUAN-DIANPING AND LEI JUN, 50, OF XIAOMI BOTH LISTED WITH VALUATIONS AT US$50BN. OTHERS INCLUDED HUANG ZHENG, 39, OF PINDUODUO, MARTIN LORENTZON, 49, OF SPOTIFY, ANDREW HOUSTON,
  1. 35. OF DROPBOX AND NAJEEB AL-HUMAIDHI, 66, OF ASTON MARTIN.
  2. 13. MUKESH AMBANI OF RELIANCE BECOMES FIRST INDIAN TO BREAK INTO GLOBAL TOP 10, AFTER 20% INCREASE TO US$54BN
  1. 14. TMT MAIN SOURCE OF WEALTH, FOLLOWED BY REAL ESTATE, INVESTMENTS, MANUFACTURING AND RETAIL. ‘BIG 5’ SECTORS ACCOUNTED FOR HALF THE LIST. HOSPITALITY AND HEALTHCARE HAD A GOOD YEAR.
  1. 15. BLOCKCHAIN FASTEST-GROWING NEW INDUSTRY, WITH 5 BILLIONAIRES, LED BY CHINA BITCOIN MINER ZHAN KETUAN, 40, OF BITMAIN (US$2.7BN) AND CHRIS LARSEN, 57

(US$1.5BN) OF RIPPLE.

  1. 16. LEADING AUTHORITY ON GLOBAL WEALTH RELEASES EIGHTH ANNUAL HURUN GLOBAL RICH LIST

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Key Findings:

  1. 2,470 BILLIONAIRES IN WORLD, DOWN 224 FROM LAST YEAR.
  2. GOING DOWN: 430 BILLIONAIRES DROPPED OFF THE LIST THIS YEAR, OF WHICH 40 DEATHS, AND 1,246 SAW WEALTH DECREASE. CHINA LED THE WAY FOR DROP-OFFS, LOSING 212 BILLIONAIRES, FOLLOWED BY INDIA WITH 52. RUPERT HOOGEWERF, HURUN REPORT CHAIRMAN AND CHIEF RESEARCHER SAID, “A 23% DROP IN THE CHINESE STOCK MARKETS COUPLED WITH A 6% DROP IN THE CHINESE YUAN WERE THE MAIN CAUSES OF THE DROPOFFS IN CHINA, WHILST FOR INDIA IT WAS A 10% DECREASE IN THE VALUE OF THE RUPEE.”
  1. MANUFACTURING WIPED OUT US$175BN OF WEALTH, FOLLOWED BY RETAIL US$122BN AND REAL ESTATE US$115BN. TOP 5 BIGGEST INDUSTRIES LOST MORE THAN HALF A TRILLION OF WEALTH THIS YEAR.

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  1. GOING UP: 769 LISTERS SAW THEIR WEALTH INCREASE AND THERE WERE 201 NEW FACES, LED BY CHINA AND THE USA WITH 52 AND 39, FOLLOWED BY INDIA WITH 23. COLIN HUANG ZHENG, 39, OF CHINA E-COMMERCE PLATFORM PINDUODUO, LED THE NEW FACES, SHOOTING STRAIGHT INTO THE TOP 100 WITH US$15BN. HOOGEWERF SAID, “COLIN HUANG SET UP PDD JUST OVER THREE YEARS AGO, BECOMING THE FASTEST PERSON IN THE WORLD TO CREATE US$10BN OR MORE FROM A STANDING START, FASTER THAN ZUCKERBERG AND FASTER THAN BILL GATES.” OF THE NEW FACES, 27 FAMILY MEMBERS BECAME BILLIONAIRES AFTER THE DEATH OF A RELATIVE.
  1. COUNTRIES. CHINA STAYED AHEAD OF USA. INDIA DROPPED BEHIND GERMANY AND THE UK TO FIFTH.
  1. BY INDUSTRY. TMT KEY SOURCE OF WEALTH FOR MOST BILLIONAIRES, FOLLOWED BY REAL ESTATE, INVESTMENTS, MANUFACTURING AND RETAIL.
  1. WOMEN MADE UP 15.5% OF THE LIST, SIMILAR TO LAST YEAR’S 15.3%. 56 SELF-MADE, SLIGHTLY DOWN FROM 59 LAST YEAR. CHINA DOMINATED WHEN IT CAME TO THE SELF?MADE BILLIONAIRES, WITH 77%, LED BY CHINESE PROPERTY DEVELOPER WU YAJUN (55) OF LONGFOR PROPERTIES WITH US$10BN. THE RICHEST WOMAN IS FRANCOISE BETTENCOURT-MEYERS, 65, OF L’OREAL WITH US$49BN.
  1. 65% SELF-MADE, 35% INHERITED. HOOGEWERF SAYS, “75% GREW THEIR INHERITANCES AGRESSIVELY, EG DONALD TRUMP AND MUKESH AMBANI.” CHINA LED THE WORLD FOR SELF-MADE BILLIONAIRES.
  1. IMMIGRATION. 10.1%, UP FROM 9.1%, FIRST GENERATION IMMIGRANT BILLIONAIRES, LED BY SERGEY BRIN OF GOOGLE AND ELON MUSK OF TESLA, WHO IMMIGRATED TO USA FROM RUSSIA AND SOUTH AFRICA.
  1. SOCIAL MEDIA. DONALD TRUMP HAS BEEN GOOD FOR JACK DORSEY, 42, OF TWITTER (US$5.5BN, UP 49%). TRUMP HAS THE LARGEST BILLIONAIRE TWITTER FOLLOWING, WITH 58.2MN, FOLLOWED BY BILL GATES (46.4MN), OPRAH WINFREY (41.9MN) AND ELON MUSK (24.8MN). TRUMP AND MUSK ADDED 10.2MN AND 4.9MN FOLLOWERS THIS YEAR. IN CHINA, JACK MA OF ALIBABA LED THE WAY WITH 24.7MN WEIBO FOLLOWERS, FOLLOWED BY SMARTPHONE MAKER LEI JUN OF XIAOMI (21.0MN), PROPERTY DEVELOPER PAN SHIYI (19.7MN) AND ENGLISH-LANGUAGE EDUCATION TYCOON YU MINHONG (15.1MN).
  1. 85 ARE FORTY OR UNDER, OF WHICH 43 ARE SELF-MADE. YOUNGEST IS NORWEGIAN ALEXANDRA ANDRESEN, 22, WORTH US$1.7BN, INHERITED FROM HER FATHER. THE YOUNGEST SELF-MADE BILLIONAIRE IS IRISH HARVARD-GRADUATE JOHN COLLISON, 28, OF STRIPE WITH US$2.6BN.
  1. 40 BILLIONAIRES FROM LAST YEAR’S LIST PASSED AWAY, HANDING OVER US$180BN OF WEALTH. YOUNGEST WERE KENNETH KT YEN FROM CHINESE TAIPEI, WHO DIED OF CANCER AGED 53, WANG JIAN OF TROUBLED CHINESE INVESTMENT CONGLOMERATE HNA (57) IN AN ACCIDENT IN FRANCE AND VICHAI SCRIVADDHANAPRACHA OF KING POWER (61) WHEN HIS HELICOPTER CRASHED IN THE UK AFTER WATCHING HIS TEAM LEICESTER CITY PLAY A FOOTBALL MATCH. RICHEST WERE SERGE DASSAULT (92) AND PAUL ALLEN (65) WITH US$24BN EACH. 27 FAMILY MEMBERS MADE THE LIST IN THEIR PLACES.

Jeff Bezos, founder and CEO of Amazon, topped the list of the world's richest

  1. ASIA PIPPED NORTH AMERICA FOR THE FOURTH YEAR RUNNING IN TERMS OF TOTAL WEALTH CREATED, US$3.58TN COMPARED WITH US$3.36TN
  1. CHINESE STOCK EXCHANGES ATTRACTED MORE THAN DOUBLE THE NUMBER OF BILLIONAIRES THAN USA STOCK EXCHANGES, 601 COMPARED WITH 252.
  1. SPORTS. MANY OF THE BILLIONAIRES OWN PROMINENT SPORTS TEAMS. FLORENTINO PEREZ’S REAL MADRID WON A THIRD EUROPEAN CUP IN A ROW; ROMAN ABRAMOVICH’S CHELSEA WON THE UK FA CUP. JOHN HENRY’S BOSTON RED SOX WON THE MAJOR LEAGUE BASEBALL. ARTHUR BLANK’S ATLANTA UNITED FC WON THE MAJOR LEAGUE SOCCER.

The China Money

Beijing is the ‘Billionaire Capital of the World’ for the fourth year running, ahead of New York. A staggering 7 of the Top 20 cities of residence are from Greater China, led by Beijing, followed by HK, Shenzhen and Shanghai and including Taipei, Hangzhou and Guangzhou. The USA had four cities in the Top 30, led by New York, and followed by San Francisco, Los Angeles and Dallas. Hoogewerf said, “The concentration of super wealth creators in Beijing is sparking a new generation of young entrepreneurs.”

Jack Ma becomes world's richest Chinese

Greater China: Still the world’s absolute No 1 with 658 billionaires. In China there is now a ‘Big Three Plus Two’. The ‘Big Three’ are Jack Ma of Alibaba with US$39bn, Pony Ma Huateng of Tencent(US$38bn) and Xu Jiayin of Evergrande (US$37bn). The ‘Plus Two’ are Li Ka-shing (US$29bn) and Lee Shau Kee (US$28bn), both 91 and from HK. The combined wealth of the Chinese billionaires is US$2 trillion, equivalent to 2.5% of global GDP. Real estate has generated most number of billionaires (142), followed by manufacturing (117) and TMT (84). Led by Beijing, 6 Chinese cities make the top 10 cities and 10 the Top 30. Hoogewerf says, “Shenzhen and Shanghai, as well as Beijing and HK, today have more known billionaires than London.” Average age is 59, five years younger than the average of the global list. China is the number 1 in the world in terms of generating self-made billionaires and is home to 77% of the world’s self-made female billionaires. There were 8 non-Chinese billionaires living in China, mainly in HK.

(Special permission obtained from Hurun Report, complete Hurun Global Rich List available on http://www.hurun.net/EN/ )