5 Chinese billionaires who pulled their wealth out of China – from spicy hotpot billionaire Zhang Yong to recycling entrepreneur Zhang Yin
Despite the trade war, China added 182 new faces to hit 799 billionaires in Hurun’s latest rich list, three times the number of new faces in the US – but how much of that wealth will stay in the country?
If you had billions, you would think life would be pretty sweet wherever you happened to be. But billionaires always seem to be on the lookout for greener pastures.
More than a third of ultra-high-net-worth Chinese are considering moving abroad, according to a survey by the Shanghai-based Hurun Research Institute. That would mean a lot of money leaving China.
In 2019, China had 658 billionaires, with 584 in the United States, according to Hurun’s Global Rich List. Despite the trade war, more new billionaires were made in China than in the US in the past 12 months.