Chinese Billionaires’ Wealth Shoot Up During Pandemic
According to the Billionaires Insights Report 2020 published by UBS and PwC, the net worth of Indian billionaires between April and July increased by 35% to $423 billion.
Well, get this – the number of billionaires in China increased to 415 with a combined wealth of $1.68 trillion from January to July this year.
And apart from the Chinese, the French billionaires have truly experienced one of their best decades.
Refer to this graph:
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It’s interesting to note that even as the world is facing a pandemic and with most of the global population feeling the pangs of economic slowdown, billionaires have just gotten richer during this crisis.
LVMH Moet Hennessy Louis Vuitton SE boss Bernard Arnault and his peers saw their wealth drastically grow to $443 billion between 2009 and mid-2020.
Chinese billionaires lead the pack, for sure. E-commerce titan and founder of Alibaba, Jack Ma tops the list of richest Chinese men with $58.8 billion and is closely followed by Tencent’s Pony Ma at $57.4 billion.
“The world has never seen this much wealth created in just one year,” Hurun Report chief researcher Rupert Hoogewerf said in a statement.
According to Forbes‘ India’s 100 Richest 2020 report, Reliance Chairman Mukesh Ambani‘s net worth rose up to 73 percent to touch $88.7 billion.