BEIJING, Oct. 24 (UPI) -- The number of Chinese billionaires is now second only to the United States, a report reveals.
The Hurun Rich List, an annual compilation of China's richest people, lists 130 billionaires, up from 101 a year ago and none in 2003, CNN reported Saturday. A 2009 Forbes magazine count of the world's richest people identified 359 billionaires in America.
The typical Chinese billionaire is a 50-year-old, self-made man who made his fortune in real estate during China's rapid urbanization, CNN said. There may be more billionaires than noted, says Rupert Hoogewerf, an accountant who compiles the Hurun Rich List. Wealthy Chinese often avoid attention to throw off tax authorities. "There are still a large number of billionaires off the radar screen," he said.
Last year's No. 1 billionaire is under arrest for alleged financial irregularities.
The Hurun Rich List, an annual compilation of China's richest people, lists 130 billionaires, up from 101 a year ago and none in 2003, CNN reported Saturday. A 2009 Forbes magazine count of the world's richest people identified 359 billionaires in America.
The typical Chinese billionaire is a 50-year-old, self-made man who made his fortune in real estate during China's rapid urbanization, CNN said. There may be more billionaires than noted, says Rupert Hoogewerf, an accountant who compiles the Hurun Rich List. Wealthy Chinese often avoid attention to throw off tax authorities. "There are still a large number of billionaires off the radar screen," he said.
Last year's No. 1 billionaire is under arrest for alleged financial irregularities.
