Wealth of China's richest lawmakers rises by one third: Hurun Report

Wealth of China's richest lawmakers rises by one third: Hurun Report”

Four Indians made it to the list of top 100 billionaires worldwide - Mukesh Ambani of Reliance Industries, Dilip Shanghvi of Sun Pharma, Gautam Adani of Adani Enterprises and Shiv Nadar of HCL Technologies. China recorded four new millionaires every week.

China now lays claim to having 40 per cent more billionaires than the second-ranked country, the United States, which has 571, the report said. As per the report, total wealth among them increased by 31 per cent to $10.5 trillion, which is equivalent to 13.2 per cent of the global GDP.

The strong property market boosted the wealth of a number of representatives, including Xu Jiayin, chairman of developer China Evergrande Group and a delegate to the CPPCC advisory body, whose net worth leapt 242 percent to 260 billion yuan. The report, which has been ranking the rich in the world for past seven years, notes that the number would be 170 if Indian-origin billionaires were also considered. It is nearly double the 7 per cent global GDP recorded six years ago.

In 2017, the report said, at least 31 billionaires from India migrated. However, China with 819 names and US with 571 are way ahead in terms of number of billionaires.

Beijing has been rated as "billionaire capital of the world", the title earlier held by NY.

The report also stated that more than one billionaire was created every day previous year, out of which 4 per week were from China.

"China is going through an incredible period of entrepreneurship, adding 210 billionaires in the past year".

HONG KONG - Fewer of the delegates to this year's meeting of China's ceremonial parliament are super-wealthy but their net worth is greater than that of last year's attendees, a report said Friday.

According to the report, Mumbai is the most preferred hub for Indian billionaires, followed by New Delhi.

2017 was a great year for Indians and the only Indian who saw great growth in wealth was Gautam Adani as last year his wealth doubled to Dollars 14 billion. Warren Buffet and Bill Gates are at second and third position respectively and they are followed by Mark Zuckerberg of Facebook, Bernard Arnault of LVMH, Amancio Ortega of Inditex, Carlos Slim Helu and family of America Movil, Larry Ellison of Oracle, Larry page of Google and Michael Bloomberg of Bloomberg. A year ago the numbers were neck-to-neck at 534 and 535 billionaires respectively.

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