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Beijing now has more billionaires than any city | Beijing now has more billionaires than any city |
(about 3 hours later) | |
Beijing added 33 billionaires last year, according to Forbes | Beijing added 33 billionaires last year, according to Forbes |
Beijing is now home to more billionaires than any other city in the world, according to the latest Forbes' annual rich list. | Beijing is now home to more billionaires than any other city in the world, according to the latest Forbes' annual rich list. |
The Chinese capital added 33 billionaires last year and now hosts 100, said the business magazine. | The Chinese capital added 33 billionaires last year and now hosts 100, said the business magazine. |
This narrowly beats New York City, which hosts 99 and has held the top ranking for the last seven years. | This narrowly beats New York City, which hosts 99 and has held the top ranking for the last seven years. |
China's quick containment of Covid-19, the rise of its technology firms and stock markets helped it gain top spot. | China's quick containment of Covid-19, the rise of its technology firms and stock markets helped it gain top spot. |
Although Beijing now has more billionaires than the Big Apple, the combined net worth of New York City's billionaires remained US$80bn (£58bn) greater than that of their counterparts in Beijing. | Although Beijing now has more billionaires than the Big Apple, the combined net worth of New York City's billionaires remained US$80bn (£58bn) greater than that of their counterparts in Beijing. |
China’s new richest person is a bottled water tycoon | China’s new richest person is a bottled water tycoon |
Kim Kardashian West joins billionaires' club | Kim Kardashian West joins billionaires' club |
Billionaire fortunes hit record high during pandemic | Billionaire fortunes hit record high during pandemic |
Beijing's richest resident was Zhang Yiming, the founder of video-sharing app TikTok and chief executive of its parent firm ByteDance. He saw his net worth double to $35.6bn. | Beijing's richest resident was Zhang Yiming, the founder of video-sharing app TikTok and chief executive of its parent firm ByteDance. He saw his net worth double to $35.6bn. |
In contrast, New York City's richest resident, former Mayor Michael Bloomberg, had a fortune worth $59bn. | In contrast, New York City's richest resident, former Mayor Michael Bloomberg, had a fortune worth $59bn. |
China's e-commerce boom | China's e-commerce boom |
China, along with the US, has seen its technology giants become even bigger during the pandemic as more people shopped online and looked for sources of entertainment. | China, along with the US, has seen its technology giants become even bigger during the pandemic as more people shopped online and looked for sources of entertainment. |
This saw the massive creation of personal wealth for the founders and shareholders of these tech titans. | This saw the massive creation of personal wealth for the founders and shareholders of these tech titans. |
So what is Jeff Bezos going to do now? | So what is Jeff Bezos going to do now? |
China, whose figure included Hong Kong and Macao in the Forbes count, added more billionaires to the list than any other country globally, with 210 newcomers. | |
Half of China's new billionaires made their fortunes from manufacturing or technology ventures, including female billionaire Kate Wang, who made her money from e-cigarettes. | |
With 698 billionaires, China is closing in on the US, which still leads with 724 billionaires. | |
One billionaire every 17 hours | One billionaire every 17 hours |
A record 493 newcomers joined the list globally last year, roughly one new billionaire every 17 hours, according to Forbes. | A record 493 newcomers joined the list globally last year, roughly one new billionaire every 17 hours, according to Forbes. |
India had the third-highest number of billionaires, with 140. In total, the 1,149 billionaires from Asia Pacific were worth $4.7tn, compared with the US billionaires' $4.4 tn. | India had the third-highest number of billionaires, with 140. In total, the 1,149 billionaires from Asia Pacific were worth $4.7tn, compared with the US billionaires' $4.4 tn. |
Jeff Bezos, founder and chief executive of Amazon, remains the world's richest person for the fourth consecutive year. His net worth grew by $64bn to $177bn last year. | Jeff Bezos, founder and chief executive of Amazon, remains the world's richest person for the fourth consecutive year. His net worth grew by $64bn to $177bn last year. |