Chinese Billionaires Decrease 4 Percent in Number to 249, Total Wealth Falls to USD670 Billion

Yicai

2017-03-30

(Yicai Global) March 30 -- The number of billionaires in China fell last year in line with global figures, with a third of China’s richest now aged below 50.

The total number of billionaires worldwide declined last year for the first time since the Great Recession in the late 2000s, with the US being the only exception, according to the Billionaire Census report published by global wealth intelligence firm Wealth-X. The amount of billionaires in China dropped 4.2 percent to 249 over the year, with a total wealth estimated around USD670 billion, down 0.7 percent.

The total number of billionaires in the world fell 3 percent to 2,397 while their overall wealth sank 3.7 percent to USD7.4 trillion, the report said. Some 283 people lost billionaire status last year, while 207 new entrants made the list. Of the total, 2,125 are men, 272 are women.

The five countries with the largest number of billionaires are the US, China, Germany, Russia and the UK.  Some 115 of the world’s richest are based in the tech industry, with half of them aged below 50.

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