Number of Beijing billionaires overtakes New York

Beijing billionaires: There are now more billionaires in Beijing than in New York, according to this  year’s  Hurun Report, which calculates that the Chinese capital is home to 100 billionaires compared to the Big Apple’s 95, Moscow’s 66, Hong Kong’s 64 and Shanghai’s 50.  The report’s founder Rupert Hoogewerf puts China’s explosive wealth creation down to the recent flood of new IPOs triggered by a relaxation in market regulations. 

Source: indiatimes