beijing, china, mandarin

China Boasts Most Billionaires After US

int_china_billionaires_1202

Wealthy Chinese look around Bentley’s showroom in Beijing on June 6, 2013.

China now has more billionaires than any country in the world except the U.S., according to a report published by Wealth-X and UBS last month.

According to the Billionaire Census 2013, China now has 157 billionaires with a combined net worth of $384 billion. Reflecting China’s rapid economic rise of recent years, nearly all of the surveyed billionaires are self-made — fewer than one in 10 inherited their wealth. The country’s new super-rich are also relatively young. China’s billionaires have an average age of 53 — nine years younger than the global average.

Read more: China Boasts Most Billionaires After U.S.

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