China, it seems, is the place to be to make money.
The nation touts a 25 percent rise in billionaires in the past few months, from 64 to 315, The New York Post reported. Stock prices have soared, driving the positive personal income scale. The wealthiest man in China, too, is a developer who profited off America, with the purchase of one of the United States’ largest movie theater chains.
Meanwhile, the top five on wealthy list actually saw their net worth double, The Post reported.
Property developer Wang Jianlin – who bought AMC cinemas in 2012 — now has a fortune of $22 billion, Sky News reported. He’s followed by beverage guru Zong Qinghour, who touts $18.7 billion. And the nation’s wealthiest woman is Yang Huiyan, with $8.3 billion.
The wealth listings are shocking given that just a decade ago, China listed no billionaires by the American dollar standard.
Now the county is second only the United States, when it comes to its number of billionaires. The change shows just how quickly China’s economy has grown – at the same time the rest of the worlds’ economies have stagnated.
• Cheryl K. Chumley can be reached at cchumley@washingtontimes.com.
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