Hurun Report: China produces 182 new billionaires, triple the new faces in the US, while Shanghai overtakes Hong Kong for the first time

Shanghai overtakes Hong Kong for the first time in the number of billionaires with 83 to 76, according to the latest Hurun Global Rich List 2020. The world’s 2,816 billionaires enhances their combined wealth by 16% to a record US$11.2tril. — SCMP

China produced nearly four in every 10 new billionaires this year, outpacing the number of new faces in the US and allowing Shanghai to leapfrog Hong Kong for the first time in terms of the number of super-rich, Hurun Report Inc said.

The world’s second-largest economy added 182 of 479 new billionaires, taking the tally in China to 799, according to the latest Hurun Global Rich List 2020. The US minted 59 new ones to raise its total to 626.