Young and self-made billionaires are mostly coming from the US and China, says a new listing of the Hurun China Rich List. That should serve as a wake-up call for the rest of the world, says Hurun chief researcher Rupert Hoogewerf to the South China Morning Post.
The South China Morning Post:
In China, the top spot belongs to the man behind drone maker DJI, Frank Wang or Wang Tao in Chinese, with an estimated fortune of $4 billion, placing him ninth.
Wang turned his Hong Kong dorm room start-up into one of the world’s largest sellers of consumer drones and now supplies 70% of the market.
All told, the United States is home to 20 of the individuals, followed by China’s 18.
US-based firms that have created more than one billionaire on the list include Uber, Snapchat and Airbnb.
Rupert Hoogewerf, the chairman of Shanghai-based Hurun Report, said the rankings should serve as an international wake-up call. The domination by the US and Chinese entrepreneurs “should be pretty scary for the rest of the world”, Hoogewerf said.
The list also gave insight into the rapid speed at which massive wealth is created in the new economy.
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