China and the US account for nearly half of the billionaires on the planet. Beijing, for the first time, has taken over New York to become the world capital of billionaires with 100 live there.
Despite its own slowdown and falling stock markets, China minted more new billionaires than any other country in the world last year, mainly on the back of new listings. A global slowdown, the strengthening US dollar, and an oil price drop hurt the rest of the world’s billionaire production.
The latest wealth calculations were made using share prices as of Jan. 15, which means they took into account the 40% plummet in China’s stock market over the past half year, but not the latest drop on Feb. 25.