china billionaires, wealth creation

In Communist China, Billionaires Minted Faster Than Anywhere Else

Though China is a communist nation, it is apparently minting billionaires faster than even the most capitalist of countries in the West. Most of the new Chinese billionaires have made their money through their own efforts rather than from inheritance. However, many of them maintain close contact with the Chinese Communist Party, which has played ...

Max Lu

A Chinese billionaire at a banquet.

161 Chinese No Longer Billionaires After Stock Market Plunge

Trade tensions with the U.S. and a slowing economy negatively affected the Chinese stock markets last year. As a consequence, at least 161 people lost their status as billionaires in China, according to wealth research firm Hurun Report. Wipeout of billionaires Last year, the number of Chinese billionaires stood at 819. But as of January ...

Nspirement Staff

A Chinese city.