Rising interest rates, US dollar strengthening, the tech bubble and the Russia-Ukraine war all contributed to a drop in China’s billionaire population in 2022, according to a Hurun report.
The number of billionaires in China fell by 164 individuals year-on-year to 969, as of 16 January 2023, according to a recent report by research firm Hurun. This includes 69 new billionaires, 229 drop-offs and four individuals who have left the country.
Zhong Shanshan, founder of bottled water brand Nongfu Spring, retained his position as China’s richest with $69 billion, down 4 percent.
World Rankings
Globally, the billionaire population fell 8 percent to 3,112 with China being the leader at more than 31 percent of the total.
This was followed by the US (691), India (187), Germany (144) and the UK (134).
