China’s billionaire population will be on the rise.
Today, the country will be home to 10 percent of the planet’s almost 2,400 billionaires, according to the latest report via Wealth-X. nevertheless, perhaps more notably, a massive 94 percent of them are self-made.
Growth in China’s technology, consumer retail and also also also real estate sectors over the past all 5 to 10 years have made the item easier for entrepreneurs to build their fortune, marking a massive surge inside the country’s self-made billionaire population.
Just 2 percent of China’s 249 billionaires are the product of inheritance, according to the report. Meanwhile, 4 percent have reached the 10-figure milestone through a combination of entrepreneurship and also also also inheritance. The rest have earned the item through grit and also also also hard work.
The figure stands in stark contrast to the global average. Overall, just 55 percent of the planet’s billionaires are self-made, according to the intelligence agency’s figures. Thirteen percent of the planet’s billionaires have gained their wealth through inheritance, while 32 percent have built the item through a combination of inheritance and also also also entrepreneurship.
What’s more, China’s billionaires are relatively younger than the global mean, with one-third aged under 50, compared to 14 percent globally. The average billionaire in China will be 53-years-old while the average billionaire globally will be aged 64.
China’s billionaires include those responsible for some of the planet’s biggest companies. Here’s a look at the top 10 wealthiest: