8 snapshots from China's rise to the top of the billionaire club

China leads the United States in the number of billionaires, 568 to 535.
By Will Creighton   |   Feb. 27, 2016 at 7:57 AM

China now has more billionaires than the United States.

According to the Hurun Institute's Global Rich List, the combined wealth of all 568 Chinese billionaires on the list is $1.4 trillion. Real estate generated the largest number of billionaires in China -- 117 -- followed by manufacturing and the technology industry.

Here are some examples of what that looks like:

1. It's all about the Benjamins. According to a 2016 GAO report, China received roughly $16 billion in remittances from the United States in 2014, second behind Mexico.
Photo by Stephen Shaver/UPI
2. "Mama says IM SPECIAL." Luxury cars are popular with January 2016 sales of high-end vehicles in China up a reported 50 percent year on year.
Photo by Stephen Shaver/UPI
3. The past becomes disposable as the future looms large. Between 2005 and 2010, more than 1.85 billion square metres of housing constructed in the 20th century was demolished.
Photo by Stephen Shaver/UPI
4. There might be more billionaires, but as The Brookings Institute notes, during China's period of rapid growth and expansion, life satisfaction declined for parts of its population.
Photo by Stephen Shaver/UPI
5. Shopping malls might be petering out in the United States, but China's richest man, billionaire Wang Jianlin, made his fortune building retail outlets across the country.
Photo by Stephen Shaver/UPI
6. Where there's wealth, there are horses. Chinese businessman Ren Ningning is building an equestrian facility to rival those in the Middle East and the United States.
Photo by Stephen Shaver/UPI
7. One example of China's growth is the "eccentric" architecture that has sprung up around the country. Responding to President Xi Jingping's call for "no more weird architecture," the government has forbidden construction of these odd-shaped buildings.
Photo by Stephen Shaver/UPI
8. As Amazon takes on China's e-commerce giant, Alibaba, it recently received its Chinese shipping license, making it easier for local manufacturers to get their goods into Amazon's distribution pipeline and delivered around the world.
Photo by Stephen Shaver/UPI
Follow us on Facebook, Twitter, and Instagram for more news from UPI.com
Related UPI Stories
share with facebook
share with twitter
Trending Stories