It’s Raining Billionaires in China!

Investment Insights

Fifteen years ago, the world’s most populous country had no billionaires. As the Chinese economy flourished over the years, the number of billionaires grew to 373 (97% of them being self-made) with a total wealth of $1.1 trillion at the end of 2017. This growth has been spurred by excellent economic and market conditions, a population that is unprecedented in terms of size, innovations in areas such as technology and e-commerce, and China’s protectionism against global tech competitors. China has overtaken the US as the place where exceptional wealth is created at the fastest rate. At this pace, China could eventually overtake the US as the global “billionaire hotspot.”

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