Forget trade wars, U.S. and China compete for most billionaires


That surge comes largely from two places: Asia, specifically China, and the U.S.

The U.S. added 53 billionaires in 2017 — a 4 percent increase — bringing its total to 585 and representing $125 billion in total wealth.

China’s billionaire population grew at a faster clip — two new billionaires per week. The country added 106 billionaires over the course of the year, while 51 fell off the list, “illustrating the risks of doing business in China,” the report said.

As a result, China added 55 billionaires net for a total of 373 in 2017. In 2006, the country had just 16 billionaires.

Source link

Products You May Like

Articles You May Like

Major cloud tech acquisitions in 2018
Fed set for a broad review on how it conducts policy in 2019
David Tepper’s Appaloosa discloses new position in Apple
Levi Strauss plans IPO that values maker of the first blue jeans at up to $5 billion, sources say
Elizabeth Warren says Fed is making the same mistakes as before the crisis

Leave a Reply

Your email address will not be published. Required fields are marked *