Beijing now has extra billionaires than every other metropolis on the planet, narrowly beating New York which held the rating for the final seven years.
The Chinese language capital added 33 billionaires final yr, taking its whole to 100, because the nation bounced again shortly from the Covid-19 pandemic that originated in Wuhan, in response to the 2021 Forbes World’s Billionaires checklist. New York is dwelling to 99 billionaires.
Beijing’s wealthiest newcomer is 34-year-old Wang Ning, whose toy enterprise Pop Mart went public in Hong Kong in December 2020. In the meantime, Zhang Yiming, Beijing’s richest resident and founding father of TikTok, doubled his internet value to $35.6bn (£25bn).
Regardless of Beijing having extra billionaires, the cumulative internet value of New York Metropolis’s billionaires is larger, at $80bn (£58bn).
In NYC, Michael Bloomberg, value $59bn (£42bn), is the wealthiest particular person.
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The US additionally nonetheless has extra billionaires than every other nation, with 724, however China is closing the hole with 698 (together with 71 from Hong Kong and 1 from Macao), in response to Forbes.
India has the third highest variety of billionaires, with 140.
China’s Zhong Shanshan is the most important gainer in proportion phrases this yr. His internet value lifted to $68.9bn (£50bn), up 3,345 per cent from $2bn a yr in the past, after he took his bottled water firm Nongfu Spring public final fall on the Hong Kong Inventory Alternate.
A document 493 newcomers have been added to the Forbes checklist this yr — roughly one new billionaire each 17 hours. Collectively, they’re value $13.1 trillion, up from $8 trillion on the 2020 checklist.
“The very, very wealthy bought very, very richer,” Forbes’ Chief Content material Officer Randall Lane instructed Reuters.
Noting that inequality had widened because the virus first hit, the Worldwide Financial Fund has mentioned taxes on high-income earners may assist pay for the price of managing the Covid-19 pandemic.
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