There are now more billionaires in Beijing, China, than in any other city in the world, according to Forbes magazine’s latest annual report on the world’s billionaires.
And the list of billionaires in the Chinese capital last year included 100 people after adding 33 people during the past year, according to the magazine, thus surpassing New York, where there are a total of 99 billionaires, making it in the first place during the last seven years.
Chinas rapid containment of the spread of Covid-19 disease and the rise of technology and financial markets helped its capital to hold the position.
Although the number of billionaires in Beijing is higher than in New York, the total wealth of New York billionaires exceeds that of Beijing, with a value of $ 80 billion.
Zhang Yaming, founder of TikTok and general manager of parent company ByteDance, is the richest man in Beijing, with his fortune doubling to $ 35.6 billion.
In contrast, the richest billionaire in New York is worth $ 59 billion.
China, like the United States, has witnessed a growth in the activity of technology giants during the recent epidemic, as Internet shopping has seen a great boom, which has created great fortunes for the founders and shareholders of large technology companies.
Half of the new billionaires in China got their fortunes from industry and technology projects, among them Kate Wang, who made her fortune from e-cigarettes.
China is close to the United States with the total number of billionaires, which stood at 698.
A new billionaire every 17 hours
Last year it set a record with 493 new billionaires around the world joining the group, an average of one new billionaires every 17 hours, according to Forbes magazine.
It was the third highest number of billionaires in India, at 140. The wealth of 1,149 billionaires in the Pacific countries was $ 4.7 trillion, compared to the wealth of $ 4.4 trillion owned by billionaires in the United States.
Jeff Bezos, founder and director of Amazon, remains at the top with an estimated wealth of $ 177 billion.