China’s Billionaires Overtake USA, 568 To 535, India Retains Top 3 by Hurun Report

DESPITE GLOBAL SLOWDOWN, 2188 BILLIONAIRES IN WORLD, UP 99 TO NEW RECORD

CHINESE BILLIONAIRES OVERTAKE USA, 568 TO 535, INDIA RETAINS TOP 3

JEFF BEZOS, 52, OF AMAZON STORMS UP 18 PLACES TO 4TH WITH US$53BN UP 24BN YOY

US PRESIDENTIAL HOPEFULS DONALD TRUMP AND MICHAEL BLOOMBERG UP US$5BN AND US$16BN TO US$6.5BN AND US$37BN. BLOOMBERG BREAKS INTO TOP 10.

[drizzle]BILL GATES AND WARREN BUFFETT ONE AND TWO IN WORLD, WEALTH DOWN 6% AND 11% TO US$80BN AND US68BN

CARLOS SLIM HELU LOSES US$33BN AND TOP 3 SPOT

BEIJING REPLACES NEW YORK TO BECOME THE BILLIONAIRE CAPITAL OF THE WORLD FOR FIRST TIME

LEADING AUTHORITY ON CHINA AND INDIA’S WEALTHY RELEASES HURUN GLOBAL RICH LIST 2016

  • WORLD’S BILLIONAIRES GREW BY 99 TO 2188 INDIVIDUALS, NEW WORLD RECORD. 50% MORE THAN 2013.
  • GOING UP: 1019 SAW WEALTH INCREASE + 311 NEW FACES. GOING DOWN: 729 SAW WEALTH DECREASE + 102 DROPPED OFF LAST YEAR’S LIST.
  • CHINESE BILLIONAIRES OVERTAKE USA FOR FIRST TIME. CHINA AND USA WITH 568 AND 535 BILLIONAIRES MAKE UP HALF OF THE HURUN LIST. NUMBER OF CHINESE BILLIONAIRES GREW 80% SINCE 2013.
  • INDIA CONSOLIDATES THIRD PLACE, UP 14 ON LAST YEAR TO 111 BILLIONAIRES.
  • BILL GATES, 60, HOLDS ONTO TOP SPOT WITH US$80BN, DESPITE HAVING DONATED US$17BN TO PHILANTHROPY. WAY AHEAD OF WARREN BUFFET AND AMANCIO ORTEGA OF ZARA WITH US$68BN AND US$64BN.
  • BEIJING BILLIONAIRE CAPITAL OF THE WORLD. 5 CHINA CITIES MAKE TOP 10: BEIJING, HK, SHANGHAI, SHENZHEN AND HANGZHOU.
  • GOOD YEAR FOR MANUFACTURING, PHARMA, INVESTMENTS AND TECH.  BAD YEAR FOR ENERGY AND REAL ESTATE. TECH KEY SOURCE OF WEALTH FOR THIRD YEAR RUNNING, FOLLOWED BY REAL ESTATE, MANUFACTURING AND INVESTMENTS.
  • CHINA leads with SELF-MADE WOMEN WITH 93 OF 124 self-made WOMEN IN WORLD.
  • 630 BILLIONAIRES OF CHINESE ORIGIN, 29% OF HURUN LIST, MUCH HIGHER THAN 20% OF WORLD POPULATION. 470 FROM MAINLAND CHINA, 60 FROM HK, 56 FROM SE ASIA, 34 FROM CHINESE TAIPEI, 8 FROM USA AND 1 FROM CANADA AND FRANCE.
  • TOTAL WEALTH JUMPED 9% TO US$7.3 TRILLION, MORE THAN COMBINED GDP OF GERMANY AND UK AND CLOSE TO HALF THAT OF USA.
  • 275 OR 12.5% IMMIGRANT BILLIONAIRES, LED BY USA (52), UK (32) AND SWITZERLAND (27). WITH US$33BN, SERGEY BRIN OF GOOGLE IS THE RICHEST IMMIGRANT BILLIONAIRE.
  • 47 SELF-MADE BELOW 40 YEARS. YOUNGEST ARE FOUNDERS OF SNAPCHAT EVAN SPIEGEL, 25, AND BOBBY MURPHY, 26, AND PAYMENT ECOSYSTEM PROVIDER STRIPES FOUNDERS JOHN COLLISON, 26, AND PATRICK COLLISON, 27.
  • NEW ENTRIES
    • RONY ABOVITZ, 44, OF VIRTUAL REALITY STARTUP MAGIC LEAP MAKES LIST FOR FIRST TIME WITH US$1.1 BN
    • INDIA’S E-COMMERCE MAHARAJAS, SACHIN BANSAL, 34, AND BINNY BANSAL, 33, OF FLIPKART WITH US$1.4BN
  • 22 INHERITED BELOW 40 YEARS.
  • 23 FROM LAST YEAR’S LIST DIED.
  • CHINESE STOCK EXCHANGES ATTRACTED MORE BILLIONAIRES THAN US, FOR THE FOURTH YEAR RUNNING.

(24 February 2016, Beijing, China) Hurun Report today released the Hurun Global Rich List 2016, a ranking of the US dollar billionaires currently found in the world. Wealth calculations are a snapshot of 15 January 2016.  This is the fifth year of the ranking.

China’s billionaires overtake USA – The list at a glance

The Hurun Global Rich List 2016 ranked 2188 billionaires from 68 countries, up 99 from last year, in another record-breaking year for the world’s billionaires.

Total wealth increased by 9% to US$7.3 trillion, more than the GDP of Germany and the UK combined and coming close to half that of the USA.

729 individuals saw their wealth decrease. 102 dropped out of last year’s list. Russian billionaires lost US$130bn, on the back of a further 19% drop in the Russian Rouble and with lacklustre performance of mining, metals and energy.

The average age is 64, same as the last 2 years.69% are self-made.

Rupert Hoogewerf, Chairman and Chief Researcher of Hurun Report, said, “Despite its own slowdown and falling stockmarkets, China minted more new billionaires than any other country in the world last year, mainly on the back of new listings.  Growth in billionaires for the rest of the world was held back by a slowdown in the global economy, the strengthening of the US dollar and the drop in oil prices. The number of billionaires, however, has jumped 50% since 2013.”

Top Ten – Hurun Global Rich List 2016

 Name  Net Worth  US$Bn  % change Main Source of Wealth  Age  Country of Residence
1- Bill Gates 80 -6% Investments 60 USA
2Screenshot_1 Warren Buffett 68 -11% Berkshire Hathaway 85 USA
3Screenshot_1 Amancio Ortega 64 16% Zara 79 Spain
4* Jeff Bezos 53 83% Amazon 52 USA
5Screenshot_2 Carlos Slim Helu & family 50 -40% America Movil 76 Mexico
6Screenshot_1 Mark Zuckerberg 47 7% Facebook 31 USA
7Screenshot_2 Larry Ellison 46 -15% Oracle 71 USA
8- David Koch 44 22% Energy 75 USA
8- Charles Koch 44 22% Energy 80 USA
10Screenshot_2 Bernard Arnault 37 -18% LVMH 66 France
10* Michael Bloomberg 37 76% Bloomberg 73 USA

Source: Hurun Research Institute 2016

Screenshot_1 Rank increase yoy  Screenshot_2 Rank decrease yoy  – No Rank change yoy  * New to Top 10

Bill Gates, 60, retains the Number 1 spot with a fortune of US$80bn. Gates becomes the first person alive today to have created a US$100bn fortune, having given away more than US$20bn to date. In January, he bought a new home near Seattle, a 6,000 sq metre property, for US$150 million.

Warren Buffett, 85, saw his wealth decrease by US$8bn or 11%, US$2.2bn of which was a donation to the Bill and Melinda Gates Foundation. Buffett has recently been buying into oil refiner Phillips 66. Interestingly, 99 percent of his wealth was earned after his 50th birthday.

Amancio Ortega, 79, is back in the top 3 this year. Inditex, the mother ship of Zara, closed January with its share price close to historic highs. Daughter Sandra Ortega Mera also makes the list with US$5.5bn, inherited from her mother.

Jeff Bezos, 52, shot into the Top 10 for the first time with a US$24bn or 83% increase in wealth to fourth spot with US$53bn on the back of a surge in Amazon shares.  Together with Elon Musk of SpaceX and Tesla fame (US$8.8bn, up 38% to 134th place), Bezos has been making headlines for his space project: at the end of last year Bezos successfully launched and returned a booster and capsule from a suborbital flight.  Bezos in 2013 purchased the Washington Post.

Carlos Slim Helu, 76, dropped out of Top 3 after losing 40% or US$33bn of his fortune, mainly on the back of big drops in America Movil and Mineras Fresco. The Mexican billionaire has built a museum in Mexico City to house his US$100 million collection of art.

Larry Ellison, 71, with US$47bn, saw his wealth drop by 15%, on the back of a reduction in Oracle’s stock price. Ellison has donated

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