Chinese Billionaires Boost Their Fortunes at Record Pace During COVID

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Covid-19 has not stopped China’s super-rich from making more money. Thanks to booming share prices and new stock listings, they now own a combined fortune of $4 trillion – a sum greater than the economy of Germany.

This year has seen the biggest wealth increase in the 22-year history of the Hurun China Rich List, according to researcher Rupert Hoogewerf, the founder of Hurun Report and ‘godfather’ of the rating. The list includes the wealthiest people in China – those whose fortunes exceed two billion yuan, or nearly $300 million.

“Stock markets booming and a flurry of new listings have minted five new dollar billionaires in China a week for the past year. The world has never seen this much wealth created in just one year,” Hoogewerf said in a statement on Tuesday.

RT

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