US Reclaims Billionaire Crown from China
The United States has regained its title as the world’s leading nation for billionaires, surpassing China for the first time since 2016, according to the latest Hurun Global Rich List. The US now boasts 870 billionaires, an increase of 70 from the previous year, while China follows with 823 billionaires, adding only nine to its total. This shift marks a significant change in the global billionaire landscape, with both countries dominating the rankings.
US Billionaires Surge Ahead
The United States has seen a remarkable resurgence in billionaire wealth, reclaiming its top position after a decade. The country welcomed 96 new billionaires, with only 17 individuals dropping off the list. New York City continues to be the epicenter of billionaire wealth in the US, housing 129 billionaires. This city had previously lost its title to Beijing in 2016 but has now regained its status.
American billionaires represent a staggering 42% of the total wealth listed, with 45 individuals making it into the Hurun Top 100. The US also leads in the number of immigrant billionaires, totaling 206, which underscores its reputation as a global hub for wealth creation. Key sectors driving this growth include Financial Services, Media & Entertainment, and Software & Services. Additionally, the US is home to 130 women billionaires, second only to China.
China’s Billionaire Count Declines
China has fallen to second place in the billionaire rankings, marking a notable decline after holding the top position for ten years. The country now has 823 billionaires, having lost 82 while adding 91 new ones. Shanghai has emerged as the leading city for billionaires in Asia, with over 92 billionaires residing there.
Chinese billionaires account for 16% of the total wealth on the Hurun list, with a remarkable 90% being self-made. The majority of these billionaires are concentrated in sectors such as Industrial Products, Consumer Goods, and Healthcare. Despite the decline, China’s billionaire population remains significant, reflecting the country’s ongoing economic growth.
India Maintains Strong Position
India continues to hold its ground as the third-largest home to billionaires, with a total of 284 individuals on the list—an increase of 45 from the previous year. Mumbai remains the country’s billionaire capital, housing 90 billionaires. Indian billionaires contribute approximately 7% of the total wealth on the list, with seven individuals featured in the Hurun Top 100.
The trend of emigration among Indian billionaires is notable, with 42 individuals relocating to countries like the US. Conversely, the number of immigrant billionaires in India is relatively low, standing at six. Key sectors contributing to billionaire wealth in India include Healthcare, Consumer Goods, and Industrial Products. Among the notable figures, Gautam Adani has seen a 13% increase in wealth, securing the 18th position globally, while Mukesh Ambani remains the wealthiest person in India.
Observer Voice is the one stop site for National, International news, Sports, Editor’s Choice, Art/culture contents, Quotes and much more. We also cover historical contents. Historical contents includes World History, Indian History, and what happened today. The website also covers Entertainment across the India and World.
