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Shimao Shenkong International Center·Hurun Global Rich List 2020

Intro
Hurun Report today released the Hurun Global Rich List 2020, a ranking of the US-Dollar billionaires in the world.

WORLD ADDS 346 BILLIONAIRES TO TAKE TOTAL TO RECORD 2,816 BILLIONAIRES

CHINA AND USA LEAD WITH 799 AND 626 BILLIONAIRES, MAKING UP OVER HALF OF ’KNOWN’ BILLIONAIRES IN WORLD. INDIA, GERMANY AND UK FOLLOW WITH 100+ EACH.

479 NEW FACES AND 130 DROP OFFS

CHINA 182 NEW FACES, DESPITE TRADE WAR, THREE TIMES THAT OF USA WITH 59 NEW FACES

JEFF BEZOS, 56, OF AMAZON, RICHEST MAN IN WORLD FOR THIRD YEAR RUNNING, WITH US$140BN, DOWN US$7BN.  EX-WIFE MACKENZIE MAKES LIST FOR FIRST TIME WITH US$44BN AT 22ND PLACE.

PARIS-BASED BERNARD ARNAULT UP US$21BN TO 2ND PLACE WITH US$107BN, ON BACK OF SURGE IN LVMH SHARE PRICE.

RECORD FOUR INDIVIDUALS CROSS US$100BN CUT-OFF. BILL GATES AND WARREN BUFFETT IN THIRD AND FOURTH PLACES WITH US$106BN AND US$102BN. TOP 10 HAS US$1TN.

ELON MUSK HAS A STORMING YEAR, UP 10 PLACES TO 20TH WITH US$46BN, ON BACK OF TESLA SHARE PRICE DOUBLING, OVERTAKING CHINA NUMBER ONE JACK MA OF ALIBABA ON US$45BN

DESPITE US-CHINA TRADE WAR, REN ZHENGFEI OF HUAWEI UP 7% TO US$3BN, SAME AS DONALD TRUMP AT 900TH IN THE WORLD.

COSMETICS QUEEN KYLIE JENNER, 22, YOUNGEST SELF-MADE BILLIONAIRE WITH US$1.1BN

ADAM NEUMANN, 40, OF WEWORK BIGGEST LOSER, WITH WEALTH DOWN 80% TO US$1.3BN

BEIJING IS WORLD‘S BILLIONAIRE CAPITAL FOR 5TH YEAR RUNNING WITH 110 BILLIONAIRES LIVING THERE, 12 AHEAD OF NEW YORK. SHANGHAI OVERTAKE HONG KONG.

CORONOVIRUS DRIVES UP STOCKS OF CHINESE ONLINE EDUCATION, ONLINE GAMES AND PHARMACEUTICAL COMPANIES DOING VACCINES. ONLINE EDUCATION PROVIDER CHEN XIANGDONG, 49, OF GENSHUIXUE SHOT STRAIGHT IN AT US$4.7BN.

STEVE BALLMER, 63, MAKES  BIGGEST GAIN THIS YEAR, ADDING US$26BN TO US$67BN AND 9TH PLACE, TO ENSURE TWO MICROSOFT SHAREHOLDERS IN TOP TEN, AS MICROSOFT SHARES SURGE PAST US$1TN

MUKESH AMBANI OF RELIANCE ADDS US$13BN TO US$67BN AND 9TH SPOT, ASIA’S NUMBER ONE

PRESIDENTIAL HOPEFUL MICHAEL BLOOMBERG UP 7 PLACES TO 13TH PLACE AND 38% TO US$58BN, ALMOST 20 TIMES THAT OF TRUMP.

LEADING AUTHORITY ON GLOBAL WEALTH RELEASES NINTH ANNUAL HURUN GLOBAL RICH LIST


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Key Findings

1.      2,816 BILLIONAIRES IN WORLD, UP 346 FROM LAST YEAR AND 727 OR 35% FROM FIVE YEARS AGO.

2.      WEALTH HITS NEW RECORDS, AGAIN: TOTAL WEALTH ROSE 16% TO US$11.2TN, REBOUNDING AFTER 9% DECREASE LAST YEAR. 66% UP ON FIVE YEARS AGO. HOOGEWERF SAID, “THE HURUN GLOBAL RICH LIST COULD BE THE THIRD LARGEST COUNTRY IN THE WORLD, WITH TOTAL WEALTH EQUATING TO MORE THAN THE GDP OF ANY COUNTRY OTHER THAN THE USA AND CHINA. THE TOP 10 HAVE A STAGGERING US$1TN.”

3.      BY INDUSTRY. TECH GENERATED 18% OF TOTAL WEALTH, FOLLOWED BY INVESTMENTS 11%, RETAIL 9% AND REAL ESTATE 8.5%. BY NUMBER OF BILLIONAIRES, TECH WAS THE PRIMARY SOURCE OF WEALTH FOR 12.7% OF BILLIONAIRES, FOLLOWED BY REAL ESTATE 9.6%, MANUFACTURING 8.7% AND INVESTMENTS 8.6%.

4.      GOING UP: 1811 SAW THEIR WEALTH INCREASE, OF WHICH 479 WERE NEW FACES, CHINA LED WITH 182, FOLLOWED BY THE USA AND INDIA WITH 59 AND 44. HALF THE NEW FACES CAME FROM TECH (74), MANUFACTURING (52), REAL ESTATE (41), PHARMA (43), RETAIL (30) AND FOOD & BEVERAGE (30).

5.      FASTEST RISERS IN ONE YEAR. 79 INDIVIDUALS ADDED US$5BN OR MORE TO THEIR WEALTH OVER THE PAST YEAR, LED BY 25 FROM CHINA, 10 FROM USA, 5 FROM FRANCE AND 4 FROM INDIA.

6.      BIGGEST WEALTH CREATORS OVER 5 YEARS. 145 INDIVIDUALS CREATED MORE THAN US$BN OF WEALTH FOR THEMSELVES IN THE LAST FIVE YEARS, LED BY JEFF BEZOS WITH US$106BN. TECH WAS THE BIGGEST WEALTH CREATING SECTOR.

7.      DOWN. 607 SAW THEIR WEALTH DECREASE AND THERE WERE 130 DROP OFFS, OF WHICH 16 DIED. FOR DROP OFFS, REAL ESTATE LED THE WAY.

8.      SOCIAL MEDIA. COSMETICS QUEEN KYLIE JENNER, 22, HAS 150MN FOLLOWERS ON INSTAGRAM, MAKING HER THE MOST FOLLOWED BILLIONAIRE AHEAD OF DONALD TRUMP, WHO HAS A TWITTER FOLLOWING OF 72.7MN, UP 14.5MN, AND INSTAGRAM FOLLOWING OF 17.6MN. BILL GATES (48.9MN ON TWITTER), OPRAH WINFREY (42.8MN) AND ELON MUSK (31.4MN, UP 6.6MN). IN CHINA, JACK MA OF ALIBABA LED THE WAY WITH 25MN WEIBO FOLLOWERS, FOLLOWED BY SMARTPHONE MAKER LEI JUN OF XIAOMI (23MN). ALL GOOD NEWS FOR TWITTER FOUNDER JACK DORSEY, 43, (US$5.6BN, UP 2%), AND KEVIN SYSTROM, 36, OF INSTAGRAM (US$2.2BN, UP 47%).

9.      90 ARE FORTY OR UNDER, OF WHICH 54 ARE SELF-MADE. YOUNGEST SELF-MADE BILLIONAIRE IS USA’S KYLIE JENNER, 22, AND INDIA’S RITESH AGARWAL, 26, OF HOTEL CHAIN OYOROOMS, BOTH WORTH US$1.1BN.

10.   WOMEN MADE UP 15.7% OF THE LIST, UP SLIGHTLY ON LAST YEAR’S 15.5%. 68 SELF-MADE, UP FROM 56 LAST YEAR. WITH 51% IN THE WOMEN’S LIST, CHINA DOMINATED WHEN IT CAME TO THE SELF-MADE BILLIONAIRES, LED BY CHINA PROPERTY DEVELOPER WU YAJUN (56) OF LONGFOR PROPERTIES WITH US$14.1BN US$13.8BN. THE RICHEST WOMAN IN THE WORLD IS ALICE WALTON, 70, OF WALMART, WITH US$59BN.

11.   IMMIGRANT BILLIONAIRES ON THE GROWTH. 10.6%, UP FROM 10.1%, FIRST GENERATION IMMIGRANT BILLIONAIRES, LED BY 74 IN THE USA, 43 IN THE UK AND 25 IN SWITZERLAND. SERGEY BRIN OF GOOGLE (RUSSIA) AND ELON MUSK OF TESLA (SOUTH AFRICA) ARE THE RICHEST IMMIGRANTS.

12.   BLOCKCHAIN HAD 6 BILLIONAIRES, MAINLY FROM CRYPTO EXCHANGES, LED BY ZHAO CHANGPENG, 42, OF BINANCE WITH US$2.6BN.

13.   68% ARE SELF-MADE AND 32% ARE INHERITED. OF THOSE WHO INHERITED A FORTUNE, 75% HAVE GROWN IT AGGRESSIVELY, EG MUKESH AMBANI OF RELIANCE INHERITED THE BEST PART OF US$10BN IN 2002 AND HAS GROWN THAT TO US$67BN TODAY.

 

 

(26 February 2020, Shenzhen, London and Mumbai) Hurun Report today released the Hurun Global Rich List 2020, a ranking of the US-Dollar billionaires in the world. Wealth calculations are a snapshot of 31 January 2020. This is the ninth year of the ranking. Shimao Shenkong International Center, a real estate development in Shenzhen is the title sponsor of the list.

 

The List at a glance

The Hurun Global Rich List 2020 ranked 2,816 billionaires from 71 countries and from 2,182 companies.


1,811 saw their wealth increase, of which 479 were new faces. 604 saw their wealth decrease, and there were 130 drop-offs, of which 16 died. 369 saw their wealth stay the same. The average age is 64.


Hurun Report chairman and chief researcher Rupert Hoogewerf said, “A boom in tech valuations and strong stockmarkets across the US, India and China propelled the billionaires to record heights. The US had a record number of 626 billionaires. China, despite the Trade War, added 182 new faces to hit 799 billionaires, three times the number of new faces in the US, widening the gap with the US.”

 

“China today has more billionaires than the US and India combined,” says Hoogewerf. “Despite a sell-off on the first day after stock markets reopened after Chinese New Year on the back of coronavirus, China’s stock market has rallied by 14% since last year’s list.”


“It has been a good year for the stock markets generally. Nasdaq led the way with a 26% increase, whilst India and China’s stock markets rose 15% and 14%. The US dollar continued its strength, albeit with only small appreciations of 3% against the Chinese Yuan and Euro, and 1% against the Indian Rupee. The Russian Ruble rose 7% against the dollar, reversing a trend of depreciation over the past two years,” said Hoogewerf.


Coronavirus. The coronavirus has resulted in mini booms for China pharmaceuticals doing vaccines, online education and online games, whilst causing share prices of hospitality and travel to drop. With schools shut since Chinese New Year, online education provider Chen Xiangdong (US$4.7bn) of Genshuixue saw his share price rise by a third since end January, and market leader Zhang Bangxin (US$10.4bn) of TAL Education also rising. With much of China stuck at home in lockdown, entertainment has been in strong demand, resulting in strong performances from online game companies, including Wu Xushun (US$2.4bn) of 37 Interactive Entertainment, up 29%, Chu Yufeng (US$5.1bn) of Perfect World up 17%, Lin Qi (US$1.2bn) of Yoozoo, up 8%, as well as Robin Li of Baidu, whose online video platform iQiyi rose 8%. Healthcare entrepreneurs specialising in vaccinations that performed solidly include An Kang (US$4.2bn) of Hualan Biological Engineering, which was up 23%, Du Weimin (US$4.7bn) of Biokangtai, up 15% and Jiang Rensheng (US$8.8bn) of Zhifei Biological Products, which was up 8%. Industries that have suffered include hospitality and travel companies, including Zhang Yong of restaurant brand Haidilao, down 12%, Wang Xing of delivery platform Meituan-Dianping, down 15% and all the airline entrepreneurs.

 

How many billionaires are there in the world? Hoogewerf says, “The world today has 6,500 dollar billionaires, up 500 on last year, assuming that for everyone we found, we have probably missed at least one if not more, particularly from the Gulf states.  We have found 626 billionaires in the USA, for example, suggesting the true number should be at least double that, perhaps as many as 1,500. In China, we have found 800, but the actual number should be closer to 2,000.”

 

Located in the world's largest bay area, the Shimao Shenkong International Center is a Bay Area complex in line with the development mission of Guangdong, Hong Kong and Macao. Shimao Shenkong International Center·Hurun Global Rich List 2020, jointly released by the Shimao Shenkong International Center and Hurun Report, provides insights into the global economy and an understanding into super wealth creators. The Guangdong-Hong Kong-Macao Greater Bay Area created 12% of China's GDP with 1% of the country's land, and its GDP growth rate reached 7.9%, ranking first in the global bay area. If all goes well, it will become the world's largest and most economically powerful Bay Area economic center city cluster. The Shimao Shenkong International Center is the cover story of the Guangdong-Hong Kong-Macao Greater Bay Area, which aims to serve the goals of the 'Global Technology Innovation Center, Global Advanced Manufacturing Center, International Financial Integration and International Trade Center' of the Greater Bay Area. This story contains all our grand imaginations of the Guangdong-Hong Kong-Macao Greater Bay Area. In the future, a new landmark of the Guangdong-Hong Kong-Macao Greater Bay Area will be built here. It will become a large-scale urban development engine integrating super towers, high-end office clusters, high-end apartments, international schools and five content centers, leading the convergence of global wealth here.

 

Top Ten – Hurun Global Rich List 2020

7 of the Top 10 are from the USA. Steve Ballmer, Armancio Ortega and Bernard Arnault added over US$20bn each.  The Top 10 added US$140bn over the year and are now worth US$961bn or 9% of the total list.

Rank

Name

Wealth   US$bn

Change   YOY

Main   Company

Age

Country   of residence

1-

Jeff   Bezos

140

-5%

Amazon

56

USA

2↑

Bernard   Arnault

107

24%

LVMH

70

France

3↓

Bill   Gates

106

10%

Microsoft

64

USA

4↓

Warren   Buffett

102

16%

Berkshire   Hathaway

89

USA

5-

Mark   Zuckerberg

84

5%

Facebook

35

USA

6↑

Armancio   Ortega

81

45%

Zara

83

Spain

7↓

Carlos   Slim Helu & family

72

9%

America   Movil

80

Mexico

8-

Sergey   Brin

68

26%

Google

46

USA

9↑

Larry   Page

67

26%

Google

46

USA

9↓

Mukesh   Ambani

67

24%

Reliance

62

India

9*

Steve   Ballmer

67

63%

Microsoft

63

USA

Source: Hurun Research Institute 2020

↑ Rank increase yoy ↓ Rank decrease yoy - No Rank change yoy * New to Top 10


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Jeff Bezos, 56, of Amazon retains the top spot in the Hurun Global Rich List 2020 with US$140bn, down US$7bn, mainly due to the world’s largest divorce settlement with former wife MacKenzie Bezos, who makes the list in her own right with US$44bn. Amazon is one of four companies, whose valuations have hit US$1 trillion, the others being Microsoft, Apple and Google. Bezos bought a US$165 million home, setting a new record for Los Angeles. In February, Bezos pledged US$10bn to help fight climate change.


Bernard Arnault, 70, continued his meteoric rise up the rankings, up two spots to second place with US$107bn, up US$21bn on last year. Arnault in November announced a deal to acquire Tiffany for US$16bn to get more access to US luxury consumers. The only non-American in the Top 5, Arnault was briefly the richest person in the world this past year, before Amazon’s share price spike took Bezos to the top again.


Bill Gates, dropped down to third place on the Hurun Global Rich List 2020, with US$106bn, despite growing his wealth US$10bn or 10%. Last month, Gates announced a US$100mn commitment to fight Coronavirus which has triggered a global health emergency. Over the past two decades, the Bill and Melinda Gates Foundation has given out more than US$50bn to global health and education.


Warren Buffett, dropped down one place to fourth spot, despite a US$14bn or 16% increase to US$102bn. A recent SEC filing shows that Berkshire Hathaway is investing money into defence stocks that are relatively immune from negative economic growth. Buffett currently holds 15.7% of Berkshire, despite having given away US$3.6bn worth of his shares to organisations including the Gates Foundation and the Susan Thompson Buffet Foundation.  Buffett has given away US$34.5bn since 2006.


Mark Zuckerberg‘s, wealth was up by US$4bn, keeping him in fifth place with US$84bn. Zuckerberg sold over US$500mn worth of shares in the past year. At 35, he is by far the youngest of the Top 10.


Amancio Ortega, up one place to sixth, on the back of a massive US$25bn increase to US$81bn. The Spaniard owns Zara, through his holding company Inditex, which launched online sales in 106 new markets through its global platform. Ortega acquired commercial property worth US$11bn of prime shopping real estate in London and New York using dividends from Inditex. Tadashi Yanai, 70, of Fast Retailing, the owner of clothes retailer Uniqlo, also saw his wealth increase by over 40% to propel him into the Top 100 for the first time.


Carlos Slim Helu, down one place to seventh with US$72bn. Helu’s fortune largely stems from telecommunications company America Movil and Grupo Carso, a holding company that engages in the retail, industrial, and construction business. Helu is a significant shareholder of the New York Times and financial conglomerate Citigroup.


Sergey Brin, 46, and Larry Page, 46, of Alphabet, both made the Top 10 for the second year running, up 26% and 26% to US$68bn and US$67bn. Brin and Page stepped down 21 years after founding Google and relinquished control of the search engine’s parent company, Alphabet, to Google CEO, Sundar Pichai.


Mukesh Ambani, 62, of Reliance maintained a Top 10 place for the second time after a US$13bn or 24% surge in his wealth to US$67bn. The only Asian in the Top 10, Ambani’s wealth increased mainly on the back of a good performance in his telecoms business. Ambani is restructuring Reliance Industries to facilitate the planned strategic investments in group businesses - Reliance Jio, Reliance Retail, refining and petrochemicals. The conglomerate aims to be a zero-net-debt company in 18 months and is in discussion to sell 20% oil-to-chemicals business to Aramco, at an enterprise value of US$75 billion. RIL became the first Indian company to hit the milestone of achieving Rs 10 lakh crore (US$140bn) market capitalization.


Steve Ballmer of Microsoft was the biggest winner on the list this year, on the back of Microsoft’s share price surge past US$1 trillion valuation and become the world’s most valuable company again. Ballmer’s 4% share of Microsoft was worth US$56 billion, with other assets including the Los Angeles Clippers, a basketball team.

 

Where they live

The ‘Big Two’ are Greater China and the USA with 799 and 626 billionaires, making up over half of the billionaires on the planet. India rose to third, followed by Germany and the UK, with more than 100 billionaires living in each country. Russia increased to sixth place.

Beijing continued as the billionaire capital of the world with 110 billionaires living there, 12 ahead of New York. HK was overtaken by Shanghai for the first time. London, despite Brexit, remained at 6th. Five of the Top 10 cities with the highest density of billionaires were in China. Hoogewerf said, “Beijing has more billionaires now than Silicon Valley. This is significant since these billionaires are at the pinnacle of an entrepreneurial ecosystem, sparking off many young entrepreneurs. HK has not had a bad year, despite continued protests.”


Table: Where they live


Country

No.   of Billionaires

Change   in No. of Billionaires



City

Number   of Billionaires

Change   in No. of Billionaires

1-

Greater   China

799

141


1-

Beijing

110

7

2-

USA

626

42


2-

New   York

98

6

3↑

India

137

33


3↑

Shanghai

83

17

4↓

Germany

122

5


4↓

Hong   Kong

76

7

5↓

UK

119

10


5↓

Shenzhen

75

8

6↑

Russia

91

32


6­-

London

74

9

7↓

Switzerland

88

11


7-

Moscow

72

20

8-

Brazil

69

16


8-

Bangkok

56

7

9-

Thailand

57

7


9-

Mumbai

50

8

10-

France

51

3


10↑

Guangzhou  

45

16

11↑

Japan

44

6


11↑

Hangzhou

42

13

12-

Italy

43

3


12↓

San   Francisco

41

4

13↓

Canada

41

0


13↑

Sao   Paulo

40

8

14↑

Australia

40

8


14↓

Paris

36

0

15↑

Singapore

35

4


14↓

Taipei

36

1

16↓

South   Korea

33

-3


16↓

Singapore

35

4

17-

Turkey

32

2


17↓

Seoul

33

-3

18-

Indonesia

30

1


18↑

Tokyo

30

4

19↑

Spain

28

4


18↑

New   Delhi

30

5

20↓

Mexico

24

-3


20↓

Istanbul

29

2

21↑

Sweden

23

0


21-

Los   Angeles

24

0

22↑

Philippines

20

2


22-

Jakarta

22

1

23-

Israel

19

0


23*

Manila

19

5

23↓

UAE

19

-5


23↑

Sydney

19

3

25↑

Denmark

17

1


23-

Dallas

19

0

25↓

Chile

17

-2


23↑

Foshan

19

3

25↑

Netherlands

17

2


23↑

Geneva

19

2

28-

Monaco

15

1


28↓

Dubai

17

-1

29-

Austria

13

2


28↓

Santiago

17

-2

30-

Malaysia

12

2


28*

Ningbo

17

5






28*

Bengaluru

17

12

Source: Hurun Research Institute 2020

↑ Rank increase yoy ↓ Rank decrease yoy - No Rank change yoy * New to Top 30

 

Greater China: The world’s absolute No. 1 when it comes to billionaires, with more than the next two countries combined. Jack Ma Yun of Alibaba led with US$45bn, just ahead of Pony Ma Huateng of Tencent (US$44bn) and followed by Xu Jiayin of Evergrande (US$33bn), Li Ka-shing, 92, (US$28bn) and Lee Shau Kee, 92, (US$27bn). The combined wealth of the Chinese billionaires was US$2.6 trillion, equivalent to 3% of global GDP. Real estate and Manufacturing generated most of billionaires (152 and 149), followed by TMT (106). Led by Beijing, 5 Chinese cities made the top 10 cities and 9 in the Top 30. Average age is 59, five years younger than the average of the global list. China is the number 1 in the world in terms of generating self-made billionaires and is home to half of the world’s self-made female billionaires. There were 9 non-Chinese billionaires living in China, mainly in HK.

China. 594 saw their wealth increase, of which 182 were new faces. 107 decreased and 51 dropped off. 84 stayed the same. Notable increases include:

·         Husband and wife couple Sun Piaoyang and Zhong Huijuan, whose wealth increased US$17bn to US$28bn, on the back of the HK IPO of generic drug maker Hansoh. “Sun Piaoyang and Zhong Huijuan have created history, by becoming the first husband and wife team to build separate US$10bn+ businesses,” said Hoogewerf.

·         Pig farmers Qin Yinglin and Qian Ying of Muyuan saw their wealth rocket up by US$12.8bn to US$19bn, on the back of a global pork shortage, caused by an outbreak last year of swine flu in China.

·         Zhang Yong, 49, and Shu Ping, 50, of hot pot restaurant Haidilao. Their wealth rose to US$16bn, up US$7.6bn, on the back of a surge in their share price since its IPO in September 2018. Since the coronavirus outbreak, the share price has dropped back 12%.

·         Zeng Yuqun, 52, of lithium battery maker CATL, saw his wealth double to US$13.8bn on the back of the surge of interest in the e-vehicle industry amid Tesla’s share price boom.

·         Shandong-born California-based Eric Yuan Zheng, 50, of video conferring platform Zoom shot straight into the list with US$4.5bn, after a successful IPO.

·         Brothers Ruan Liping, 56, and Ruan Xueping, 48, made the list for the first time with US$7bn each, after the IPO of Bull, a household brand in China best-known for its adapter plugs.

·         Yu Renrong, 54, of Will Semiconductors grew his wealth six-fold since going public early last year, after US$2bn of acquisitions.

·         Leng Youbin, 51, shot into the Hurun Global Rich List with US$5.9bn after going public in November with China Feihe, the country’s biggest baby-formula brand. Demand has surged since China announced the end of the one-child policy. 

·         Zeng Fangqin, 55, of smartphone component maker Guangdong LY, whose wealth quadrupled to US$7.5bn.

·         Shenzhen-based Zhu Zhaojiang, 47, of Africa-leading mobile phone brand Transsion made the list for the first time with US$1.4bn. 

·         Others to watch include tech stars Beijing-based Zhang Yiming, 37, at US$13.8bn, of ByteDance, which has been valued at a staggering US$75bn, making it the world’s most valuable unicorn after Ant Financial, and owns the super popular short video platform Tik Tok; Wang Xing of Meituan-Dianping, the Hurun Person of the Year 2019, whose wealth doubled to US$7.6bn; Colin Huang Zheng of ecommerce giant Pinduoduo, founded less than five years ago, whose wealth rose 20% to US$18bn; Xiaomi founder Lei Jun, 51, whose wealth grew 32% to US$14.5bn; Beijing-based Li Yongxin, 44, of civil service test prep platform Offcn, whose wealth doubled to US$9.6bn; Zhou Qunfei of mobile phone touchscreen manufacturer Lens, whose wealth almost tripled to US$9.7bn, on the back of a surge of interest in 5G mobile phones; Ren Zhengfei, 76, of Huawei, whose wealth rose 7% to US$3bn, despite the massive US campaign against Huawei; Jenny Qian Zhiya, 43, of Starbucks rival coffee chain Luckin, which managed an IPO last year after less than a year of existence, with US$1.7bn.


Chinese diaspora. 30.2% of the world’s billionaires are of Chinese origin, 0.7% more than last year. Outside of Greater China, the Chinese diaspora are based predominantly in South East Asia, led by Singapore. Chinese make up 20% of the world’s population.

Greater China was made up of Mainland China with 669 (+129), Hong Kong 70 (+7) and Taiwan 51 (+4) billionaires respectively. There were 9 individuals in Greater China who are not of Chinese origin.

TABLE: Chinese billionaire diaspora around the world


Residence

No.   of Billionaires (Change)

1

Greater China

790 (+140)

2

Singapore

20 (-1)

3

USA

14 (+2)

4

Philippines

9 (-1)

5

Thailand

8 (-1)

6

Indonesia

7 (-1)

7

Malaysia

3 (-2)

8

UK

1 (-)


Total

852   (+136)

Source: Hurun Global Rich List 2020

 

中国Top10.jpg 


The USA is second behind China with 626 billionaires, up 42. Tech and Investments remain the main source of wealth for American billionaires, with 128 and 123 billionaires, followed by Retail with 50. The combined wealth of the US billionaires was US$3.6 trillion, or 4.2% of global GDP, or just a little more than the GDP of France, US$1 trillion more than China. New York had the highest concentration of billionaires (98), followed by San Francisco (41) and Los Angeles (24). California is the state with the most number of billionaires, 141, of which over half are from the Bay Area. The USA is the world-capital for immigrant billionaires. The average age of US billionaires increased to 67, three years higher than the average age of the global list. Interesting entrepreneurs include:

·         Netflix shareholders. Reed Hastings, 61, saw his wealth rise 15% to US$4.6bn, whilst Jay Hoag, 59, made the list for the first time with US$2.1bn.

·         Evan Spiegel, 29, saw his wealth rocket up by US$2.8bn to US$4.5bn, as Snap Inc. added 31mn daily users.

·         John Collison (29) and Patrick Collison (31), wealth rose to US$4.2bn, up US$1.6bn, after valuation of Stripe increased to US$35bn.

·         Chad R. Richison (49) of Paycom Software saw his wealth rise to US$2.8bn, up US$1.6bn as his shares surged 76%


India rose to 3rd with 137 billionaires, 33 more than last year. With US$67bn, Mukesh Ambani, 62, of Reliance is the richest person in India. Pharmaceuticals, TMT and Chemicals led the way, with 22, 22 and 16 billionaires each. Mumbai is the billionaire capital with 50, followed by New Delhi with 30. There were 39 new faces and 10 drop offs. The average age was 62, two less than the average of the list. There are a total of 169 Indian billionaires, of which 32 are based outside of India. 

Rising billionaires from India. 99 saw their wealth increase, of which 39 were new faces. 24 decreased and 10 dropped off. 8 stayed the same.  Notable increases include:

·         Gautham Adani saw his wealth rocket up by US$7.1bn to US$17bn, after the demerger of his renewable generation and city gas distribution businesses.

·         NR Narayana Murthy, 71, worth US$2.3bn, saw his son-in-law Rishi Sunak, 39, in February appointed to become the UK Chancellor of the Exchequer, the most powerful person in the British government after the prime minister.

·         Sunil Mittal & family, 61, saw his wealth rise to US$3.5bn, up US$1bn, propelled by speculations of the Indian telecom market becoming a duopoly, led by Jio and Airtel.

·         Radhakishan Damani, 64, of grocery retail chain Avenue Supermarts, whose wealth increased 80% to US$10.6bn after his flagship company logged a 53% year-on-year rise in standalone profit in Q3 of current fiscal.

·         Uday Kotak, 60, of Kotak Mahindra Bank shot straight into the Top 100 list with US$15bn.  Kotak’s share price hit an all-time high after RBI cleared plans for dilution of promoters' shareholding.

 

Germany slipped one place to 4th with 122 billionaires. Food & Beverages led with 19 billionaires, followed by Retail with 18 and TMT with 17. The combined wealth of the German billionaires is US$473bn. Average age is 65. Munich is the preferred hub for German billionaires followed by Hamburg. 46 saw their wealth increase, of which 6 were new faces. 41 decreased and 1 dropped off. 34 stayed the same.  Notable increases include:

·         Georg Nemetschek, 85, saw his wealth increase by US$2.8bn to US$4.3bn backed by Nemetschek group’s, a software company that employs over 2500 people, increase in revenue by 20.7%.

·         Klaus-Peter Schulenberg, 68, saw his wealth rise to US$2.9bn from US$2.1bn. In November 2019, CTS Eventim's revenue exceeded €1 billion for the first time in a nine-month period, and the share price had risen 60% to hit a market capitalisation of €5.2 billion.

·         Harald Tschira, 64, and Dietmer Hopp, 79, of German software giant SAP, saw their wealth increase by 28% to US$5.5bn after an increase in share price by 30%, backed by the stellar performance of its cloud division that registered a 37% surge in topline.

·         Wolfgang Marguerre, 69, of Octapharma, saw his wealth increase by one fourth to US$6.5bn. The Octapharma Group grew sales by 23.2% to €2.2 billion.

 

The UK down one place to 5th with 119 billionaires, 10 more than last year. London is the undisputed city of choice for 74 of them. Retail and Real Estate led the way with 18 and 17 billionaires, followed by TMT, with 12. UK billionaires have a combined wealth of US$416bn. The UK is second for immigrant billionaires, after the USA. “Since the Brexit vote of 2016, the UK has added 36 billionaires,” said Hoogewerf.

69 saw their wealth increase, of which 14 were new faces. 35 saw their wealth decrease and 3 dropped off. 13 stayed the same. Notable increases include:

·         On the back of JD Sports’s share price rising by 147%, Stephen Rubin, 82, saw his wealth rocket up by US$3.8bn to US$7.1bn. It’s been a busy two years. JD opened 83 new stores, of which 78 within international markets, acquired Finish Line in the USA, the largest market for sport lifestyle footwear and apparel, and Sport Zone, one of the largest multi-branded sports retailers in the Iberian peninsula.

·         Andre Esteves, 51, saw his wealth rise to US$3.4bn, up US$1.4bn, after BTG Pactual’s share price increased by 154%.

·         Mark Dixon, 60, of IWG, saw his wealth increase by 64% to US$1.8bn after IWG logged a 98% share price increase in the current fiscal.

·         Mark Coombs, 59, of Ashmore Group, saw his wealth increase by 40% to US$2.1bn from US$1.5bn last year.


Russia rose above Switzerland to 6th position with 91 billionaires, up by 32. All are self-made. The most popular sectors are Metals & Mining and Energy with 19 and 18 billionaires. Moscow is home for 72 of them, ranking 7th, down from first place less than ten years ago. The combined wealth of the Russian billionaires comes to US$362bn, up 34%. With US$29bn Vladimir Potanin (59), of mining giant Interros, is the richest Russian.


Switzerland dropped to 7th position with 88 billionaires, up by 11. Geneva is the Swiss billionaire capital, with 19, followed by Basel with 12. Preferred sectors are Pharmaceuticals (19 billionaires), Financial Services (7) and Chemicals (7). Combined wealth of the Swiss billionaires cumulates to US$359bn, up 14%. 50 of Swiss-based billionaires are immigrants, ie born outside of Switzerland.


Brazil, retained 8th spot with 69 billionaires, 16 more than last year. The combined wealth of the Brazilian billionaires was US$184bn, 14% more than last year. The preferred sector is Financial Services and Manufacturing with 18 and 10 billionaires respectively. Sao Paulo is the preferred city and is home to 40 billionaires. The richest man in Brazil is Joseph Safra (US$17bn).


Thailand retained the 9th position with 57 billionaires. Their combined wealth was US$135bn. The preferred sector is Food & Beverages with 29 billionaires. Bangkok is the preferred city for almost all Thai billionaires.

France retained the 10th position with 51 billionaires, three more than last year. The combined wealth of the French billionaires is US$435bn, up 8.5%. The preferred sector is Food & Beverages and Luxury goods with 8 and 5 billionaires respectively. Paris is the preferred city and is home to 36 billionaires. The richest man in France, Bernard Arnault, is also the Number One European with a wealth of (US$107bn).

 

 

Where is all this new wealth coming from?

New Entrants to Top 100.  There were 17 new entrants to the Top 100, led by MacKenzie Bezos of Amazon, who shot straight to 22nd place with US$44bn, after her divorce settlement with Jeff Bezos. Julia Koch and Giovanni Ferrero came into their wealth after inheriting it.

TABLE: New additions into the Hurun Top 100

Rank

Name

 Wealth added in last year

Main Company

Age

Country of Residence

22

MacKenzie Bezos

44

Amazon

49

USA

25

Julia Koch & family

39

Koch Industries

57

USA

30

Giovanni Ferrero

34

Ferrero Rocher

55

Belgium

35

Sun Piaoyang & Zhong   Huijuan

17

Hengrui, Hansoh

62, 59

China

43

Laurene Powell Jobs & family

14

Walt Disney

56

USA

56

Qin Yinglin & Qian Ying

12.8

Muyuan

55, 54

China

60

Zhang Zhidong

6

Tencent

48

China

68

Shiv Nadar & family

11.5

HCL

74

India

68

Gautam Adani

7.1

Adani Enterprises

57

India

68

Tadashi Yanai

5

Fast Retailing

70

Japan

82

Zhang Yong & Shu Ping

7.6

Haidilao

49, 50

China

82

Klaus-Michael Kuhne

5

Kuehne & Nagel

82

Switzerland

82

Andrey Melnichenko

4

Suek

47

Russia

91

Chen Jianhua & Fan Hongwei

5

Hengli

49

China

91

Uday Kotak

4

Kotak Mahindra

60

India

91

Li Shufu & family

4

Geely

57

China

91

Lakshmi N Mittal

3

ArcelorMittal

69

UK

Source: Hurun Global Rich List 2020

 

 

Fastest risers in one year. 79 individuals added US$5bn or more to their wealth over the year, led by 25 from China, 10 from the USA, 5 from France and 4 from India.


TABLE: Largest wealth creators over the last five years

145 individuals created more than US$5bn of wealth for themselves in the last five years, led by Amazon founder Jeff Bezos with US$106bn. TMT was the biggest wealth creating sector.

Wealth created

No. of individuals

Key Individuals

>US$100bn

1

Jeff Bezos

US$50bn - US$100bn

1

Bernard Arnault

US$40bn - US$50bn

4

Mukesh Ambani, Steve Ballmer, Mark Zuckerberg, MacKenzie   Bezos

US$30bn - US$40bn

5

Elon Musk, Sergey Brin, Michael Bloomberg

US$20bn - US$30bn

10

Francois Pinault, Jack Ma, Ma Huateng, Alice Walton

US$10bn - US$20bn

31

Qin Yinglin, Yao Zhenhua, Gautam Adani, Huang Zheng

US$5bn - US$10bn

93

Leonardo Del Vecchio, Lin Li, Uday Kotak

Source: Hurun Global Rich List 2020

 

Blockchain had 6 billionaires, predominantly generated by crypto exchanges and a bitcoin miner. Crypto exchange were led by Zhao Changpeng, 42, of Binance with US$2.6bn, Xu Mingxing, 35, of OKCoin with US$1.4bn, Chris Larsen, 59, of Ripple, with US$1.3bn, Li Lin, 38, of Huobi with US$1.1bn and Brian Armstrong, 37, of Coinbase with US$1bn. Bitcoin miner Zhan Ketuan of Bitmain had US$1.6bn.

 

Young & Rich. There are 90 billionaires aged 40 or under, up 5 from last year. 54 self-made with 36 inherited. The youngest self-made billionaire is cosmetics queen Kylie Jenner, 22, worth US$1.1bn, followed by Ritesh Agarwal, 26, of Indian hotel chain OYO Hotels.

With 25 individuals each from China and USA lead the under 40s and made up over half of Under 40s. With 5 billionaires, German medical device manufacturer B. Braun contributed the most billionaires under 40. One in five were women.

TABLE: Youngest Self-Made Billionaires

Age

Name

Wealth   US$bn

Main   Company

Country

of   Residence

22

Kylie   Jenner

1.1

Kylie   Cosmetics

USA

26

Ritesh   Agarwal

1.1

Oravel   Stays

India

29

Evan   Spiegel

4.5

Snapchat

USA

29

John   Collison

4.2

Stripe

USA

31

Bobby   Murphy

4.3

Snapchat

USA

31

Patrick   Collison

4.2

Stripe

USA

34

Peng   Guoyuan

2.2

NWY

China

35

Mark   Zuckerberg

84

Facebook

USA

35

Dustin   Moskovitz

13.4

Facebook

USA

35

Nathan   Blecharczyk

4.7

AirBnb

USA

35

Pavel   Durov

3.6

Telegram

Dubai

35

Cheng   Yixiao

2.1

Kuaishou

China

35

Xu   Mingxing

1.4

OKCoin

China

35

Shao   Heng

1.2

Century   Huatong Automotive Part

China

Source: Hurun Global Rich List 2020 

 

Source of Wealth by Industry – Hurun Global Rich List 2020

TMT added the most number of billionaires this year and was the undisputed main source of wealth for the world’s billionaires. Together with real estate, manufacturing, investments and retail, the ‘Big 5’ industries accounted for half the world’s known billionaires. The Top 10 industries accounted for over 70% of the world’s known billionaires.


TABLE: Source of Wealth – Hurun Global Rich List 2020



Industry

% of   Billionaires

%   Change

%   Wealth

Richest   person

Main   Company

1-

TMT

12.7%

0.4%

18%

Jeff   Bezos

Amazon

2-

Real Estate

9.6%

-0.2%

8.5%

Xu   Jiayin

Evergrande

3↑

Manufacturing

8.7%

0.4%

5.8%

He   Xiangjian

Midea

4↓

Investments

8.6%

-0.5%

11%

Bill   Gates

Microsoft

5↓

Retail

7.8%

-0.5%

9%

Amancio   Ortega

Inditex

6-

Food & Beverages

7.7%

-0.2%

6.8%

Jacqueline   Mars

Mars

7-

Financial   Services

5.5%

0.0%

4.3%

R   Budi Hartono

Bank   Central Asia

8-

Pharmaceuticals

5.1%

0.8%

4%

Sun Piaoyang & Zhong Huijuan

Hengrui,   Hansoh

9-

Energy

3.7%

-0.3%

5%

Mukesh   Ambani

Reliance

10-

Metals   & Mining

3.0%

-0.1%

3%

Vladimir   Potanin

Interros

Source: Hurun Global Rich List 2020

↑ Rank increase yoy ↓ Rank decrease yoy - No Rank change yoy

                                                   

 

Comparison of the Number of billionaires from Greater China compared with the USA. 2016 was the year that China overtook the USA in terms of billionaires.

 

                                               China vs US.png

 

Billionaire philanthropy


Stewart and Lynda Resnick gave US$750mn to California Institute of Technology to build the Resnick Sustainability Resource Center and endow environmental research related to the effects of climate change.


Phillip Ragon and Susan Ragon of InterSystems gave US$200mn to Massachusetts General Hospital (Boston) to endow a vaccine-research center.


Steve Schwarzman of Blackstone made a donation of US$188mn to Oxford University, to fund research into the ethics of artificial intelligence.  This was the largest single donation in the history of Oxford. Despite his donation, Schwarzman added US$7bn to his wealth in the past year.


Museum of Science and Industry (Chicago) has received US$125mn from Kenneth Griffin of Chicago hedge fund Citadel Investment Group for its endowment and to back new and current programming. The museum will be named for the billionaire financier.


Sanford Weil of Citigroup donated US$106mn to Weill Neurohub (San Francisco) to establish this new organization to bring together researchers and clinicians to develop new treatments for neurological and psychiatric diseases.

 

Eli and Edythe Broad of AIG gave US$100mn to the Yale School of Management. The money will support teaching and research programs that aim to strengthen leadership within American public-school systems.

 

James Simon has given away US$100mn to New York Genome Center for collaborative research programs in neurodegenerative conditions, neuropsychiatric diseases, and cancer.

 

Billionaires spending big


Ukraine’s richest person Rinat Akhmetov bought a 14-bedroom mansion for US$220 million in the French Riviera.


Atlanta Falcons owner Arthur Blank purchase a custom superyacht Via SuperYachtFan.com, Blank’s boat is 295 feet long and cost US$180mn.


Hedge fund billionaire Ken Griffin of Citadel bought a US$122mn residence in London, the most expensive London home purchase in more than a decade.


Polish billionaire Dominika Kulczyk bought a house near Harrods department store in London for US$75 million.

 

Some interesting points

·         Pardoned. President Trump pardoned Michael Milken (US$3.7bn), who in 1990 pleaded guilty to securities, tax and other and reporting violations.

·         Tim Sweeney of Epic Games, is offering US$100 million in grants to game developers to help promote the industry.

·         IPOS. 57% of billionaires derived their wealth from listed companies. It has been a bad year for big IPOs. HK led the IPO market both in terms of number of listing and IPO proceeds, with 14% of new listings, followed by NASDAQ and Shanghai. Jack Ma’s secondary listing on HK was the biggest, raising US$31bn.  Other important IPOs included Eric Yuan Zheng’s Zoom, George Kurtz’ CrowdStrike and Brazilian companies XP and Hapvida.

·         Two are in jail.  Xiao Jianhua of Tomorrow Holdings with US$3.6bn and Huang Guangyu of Gome with US$3.4bn.

·         M&A – Good in the US, bad everywhere else. US recorded a staggering 50% of global M&A activity last year. China M&A activity was down significantly. Some of the notable M&A deals by the billionaire-owned companies include

o      CBS and Viacom completed their merger on 4th December, reuniting media mogul Sumner Redstone’s U.S. entertainment empire. Redstone broke the companies apart in 2006 with CBS controlling the TV assets.

o      Customer relationship management company Salesforce.com acquired big data firm Tableau Software for US$15.3bn, marking the biggest acquisition in the company's history.

o      French telecommunications tycoon Patrick Drahi purchased Sotheby’s for US$3.7bn. He also scooped up the streaming news platform Cheddar for US$200mn.

·         Richest Family. The Walton family of Walmart is the richest family in the world with a cumulative net worth of US$208bn, more than Jeff Bezos.

·         Companies that created most Billionaires. Thailand-based conglomerate, CP Group created more billionaires than any other company on the Hurun Global Rich List 2020. Red Bull’s shareholders are led by Dietrich Mateschitz, together with the 11 children of co-founder Chaleo Yoovidhya.


16 billionaires died. Between them, they passed down US$70bn to 8 family members. The average age of death was 82.

Koch industries David Koch of USA died of cancer, aged 79. Christopher Cline of Foresight Energy Partners died in a helicopter crash in the Bahamas. H Ross Perot Sr, who died of leukaemia at the age of 89, was the third-party candidate in the 1992 and 1996 US Presidential elections.


TABLE: The billionaire obituary – Hurun Global Rich List 2020

Name

Company

Country

Age

Wealth   2019

 (US$bn)

Christopher   Cline

Foresight   Energy Partner

USA

60

1.4

Erramon   Aboitiz

Aboitiz   Equity Ventures

Philippines

63

3.7

Lars   Larsen

Jysk

Denmark

70

3.3

David   Koch

Koch   Industries

USA

79

47

Lee   Shin Cheng

IOI   Group

Malaysia

79

5.0

Gary   Burrell

Garmin

USA

81

1.9

Ben   Pon Jr.

Pon   Holdings

Netherlands

82

2.6

Elisio Alexandre Soares Dos Santos

Jeronimo   Martins

Portugal

84

2.6

Victor   Gradin

Odebrecht

Brazil

85

3.0

Bruno   Schroder

Schroders

UK

86

4.6

Ronald   Joyce

Tim   Horton Donut

Canada

88

1.2

H   Ross Perot Sr

Perot   System

USA

89

4.4

Hans   Rausing

Tetra   Pak

UK

92

14

Samprada   Singh

Alkem   Laboratories

India

92

1.0

John   Gokongwei Jr

JG   Summit Holding

Philippines

92

6.2

Saif   Al Ghurair

Mashreq   Bank

UAE

95

1.4

Source: Hurun Research Institute 2020     


TABLE: Billionaires by Continent

By Continent. Asia pipped North America with US$4.4tn compared with US$3.89tn. Africa has 21 known billionaires, led by Aliko Dangote, 62, of Dangote Cements.

Asia, with 60% of the world’s population, accounted for 39% of wealth, up 22%, and 48% of billionaires. For new faces, Asia contributed 63%, followed by Europe with 14.5% and North America with 14.3%.


Continent

No.   of Billionaires

Change   in No. of Billionaires YoY

Combined   wealth US$bn

1

Asia

1,364

227

4,409

2

North   America

692

39

3,891

3

Europe

591

58

2,404

4

South   America

106

16

274

5

Oceania

42

9

136

6

Africa

21

-3

71

Source: Hurun Global Rich List 2020

 

Stock Markets

It has been a good year for the stock markets generally. Nasdaq led the way with a 26% increase, followed by the Australia ASX 200, up 20%. The CAC was up 16%, DAX 15%, Shanghai 14%, Tokyo 8% and the FTSE 100 was up 4%. HK’s Hang Seng Index dropped 6%, despite being one of the most active stock markets for new IPOs in the year, and boasting the US$31bn secondary listing of Alibaba.

 

Currencies

The US dollar continued its strength, appreciating 14% against the Brazilian Real, 3% against the Chinese Yuan and Euro, and 1% against the Indian Rupee. Currencies that appreciated against the dollar included the Russian Ruble, up 7%, Israeli Shekel, up 6% and the Swiss franc up 3%. The Argentine Peso was the worst performing currency, depreciating 38% against the dollar.

 

Stats

The cut-off required to break into the Top 1000 was up 7.7%. The cut-off to the Top 10 was at record levels, US$67bn, 80% higher than five years ago.

TABLE: Stats – Cut-off through the Years


Top   10 US$bn

Top   100 US$bn

Top   200 US$bn

Top   500 US$bn

Top   1000 US$bn

2012

25

NA

NA

NA

NA

2013

30

10.5

6.1

2.9

1.5

2014

36

11.5

6.9

3.4

2

2015

36

12

5.9

2.6

1.9

2016

37

11

6.6

3.5

2.1

2017

42

12

6.9

3.7

2.2

2018

49

14

9.1

4.8

2.8

2019

53

13

8.2

4.4

2.6

2020

67

15

9.2

4.9

2.9

Source: Hurun Global Rich List 2020


TABLE: Stats – Number of Billionaires through the Years

2020 has produced the record number of billionaires, overtaking the previous record set two years ago, and 90% more than 2013.


No.   of People on List

Av.   Wealth

US$bn

Total   Wealth

US$bn

Richest   Person

US$bn

Number   of Billionaires in Greater China

2012*

83

18.2

1,513

Carlos   Slim Helu & family

55

5

2013

1,453

3.7

5,500

Carlos   Slim Helu & family

66

357

2014

1,867

3.7

6,900

Bill   Gates

68

458

2015

2,089

3.2

6,700

Bill   Gates

85

478

2016

2,189

3.0

7,369

Bill   Gates

80

568

2017

2,257

3.5

8,017

Bill   Gates

81

609

2018

2,694

3.9

10,574

Jeff   Bezos

123

819

2019

2,470

3.9

9,580

Jeff   Bezos

147

658

2020

2,816

4

11,188

Jeff   Bezos

140

799

Source: Hurun Global Rich List 2020 *In 2012, Hurun Global Rich List only ranked those with US$10bn


Largest Market Capitalizations of companies founded by billionaires from the Hurun Global Rich List 2020. Microsoft overtook Amazon to become the largest company by market cap. Alibaba, Tencent are the only non-USA companies that make the Top 10.


Company   Name

Market   Value US$bn

Change

1↑

Microsoft

1290

61%

2↑

Alphabet

999

29%

3↓

Amazon

959

14%

4↑

Facebook

575

21%

5↓

Berkshire   Hathaway

548

8%

6-

Alibaba

534

22%

7-

Tencent

461

8%

8↑

Samsung

331

25%

9↓

Walmart

330

19%

10-

Comcast

203

23%

Source: Hurun Global Rich List 2020

↑ Rank increase yoy ↓ Rank decrease yoy - No Rank change yoy

 

Self-made degrees: Hurun Research’s bespoke measure of the degree to which billionaires are inherited or self-made. The scorecard is out of five, where 1 is inherited and not active in business, and 5 is self-made without help from parents. Hoogewerf said, “Many billionaires like to portray themselves as self-made, but have in fact inherited significant wealth from their parents.”

68% are self-made and 32% are inherited. China is the world’s engine when it comes to self-made billionaires.

TABLE: Hurun Self-Made Scorecard by Country

Self-Made  Scorecard

% of   Billionaires

TOP   3 Countries (with %. of Billionaires)

Example

5

33.6%

1.   Greater China (78.5%)

Self-made   without parental financial support eg Warren Buffett

2.   USA (8.8%)

3.   UK (2.4%)

4

34%

1.   USA (35.5%)

Self-made,   but with a helping hand from parents such as through private education, eg   Mark Zuckerberg

2.   Russia (8.6%)

3.  UK (6.9%)

3

24.1%

1.   USA (20.7%)

Born   into money but grew business aggressively, eg Mukesh Ambani and Donald Trump

2.   Germany (9.6%)

3.   India (7.3%)

2

4.9%

1.   USA (24%)

Inherited,   but active in the business eg Yang Huiyan of Country Garden

2. Greater   China (22.6%)

3.   Germany (8.7%)

1

3.2%

1.   USA (35.5%)

Inherited   and not actively involved in the business, eg Laurene Powell Jobs of Walt   Disney

2.   Brazil (10%)

3.   Australia (6.6%)

Source: Hurun Research Institute 2020





About Shimao Shenkong International Center

At the historical node where the Guangdong-Hong Kong-Macao Greater Bay Area is highly integrated and rapidly developing into a world-class city cluster, Shenzhen Universiade new town, as the only “new urban living room” in the eastern region, has become the new economic growth pole attracting worldwide attention. Over the past 30 years, Shimao Group has also seized the historical development opportunities, concentrating on and professionally distributing in the Guangdong-Hong Kong-Macao Greater Bay Area, constantly improving the city image.


Shimao Shenkong International Center, as a classic work of Shimao Group, is striving to become a landmark building of the Guangdong-Hong Kong-Macao Greater Bay Area, and it will become the development platform for promoting the exchanges and integrations between Shenzhen and Hong Kong by integrating world-class resources, promoting the urban construction logic and development path in the era of "Bay Area", upgrading human settlements, and carrying out explorations and practices in regional cooperation and industrial convergence.


Shimao Shenkong International Center is located in Universiade District, the core area of Guangdong-Hong Kong-Macao Greater Bay Area, covering an area of 329,900 square meters with a total area of 1.36 million square meters. Relying on the convenient transportation advantages of the Bay Area, it is easy to set aside "one-hour living circle" for the owners. On the basis, Shimao Shenkong International Center can strengthen the collaboration between Guangdong and Hong Kong in the fields of economy, policy, education and science and technology, etc.


The total investment of this project will reach 50 billion yuan, according to the overall plan. Eventually, this project will be built into a comprehensive development and operation project integrating Shenzhen-Hong Kong International Convention & Exhibition Center, Shenzhen-Hong Kong Youth Cooperation and Entrepreneurship Center, Shenzhen-Hong Kong International Performance Center, international school, super five-star hotel, intelligent office and large business apartment.


The Exhibition Center, as the debut of Shimao Shenkong International Center, faces Longgang Universiade Green Park, with the east facing the future super high-rise main tower, the north side adjacent to the central greenbelt, and the west side facing the mountain landscape, which has unique scenery and urban resources. The Exhibition Center will integrate project exhibition, commercial marketing, art exhibition, cultural activities and other functions to inject new vitality for the city.

 



About Hurun Report Inc.

Promoting Entrepreneurship through Quality Lists and Research


Hurun Report generated 300 million views globally every month last year, through putting out quality lists and research.


Established in 1999, Hurun Report Inc. has grown into a leading research platform based in Shanghai and Mumbai, best-known for its China and India rich lists, and with 150 employees today.


Hurun Research Institute ‘World’s Largest Rich List Provider’

These past twenty years have seen the fastest wealth creating period in the history of the world.


Other lists Hurun puts out include: the Hurun Richest Self-Made Women in the World has been highlighting for over ten years the fact that over 70% of the world’s most successful women in business herald from China, ie Chinese are completely dominant in the world of women in business. This has changed the way the world looks at Chinese women in business.


The Hurun China Philanthropy List ranks the most generous individuals in China and is now in its 15th anniversary.  With no inheritance tax, Chinese give much more generously than many have previously understood.


Two recent lists with an impact include the Hurun China Unicorn Index, ranking the most dynamic businesses with a valuation of US$1bn or more in China; and the Hurun Most Successful University Alumni.


In India, Hurun Research has launched the Hurun India Rich List for the seventh time last year, and has an active events business there.


‘World Authority on the Chinese High Net Worth Individual’

Recent research partners include financial institutions (PingAn, Bank of China, Taikang Life, Minsheng, Citic), local government (Shanghai, Changbaishan) and Global 500 multinationals (Marriott, Country Garden, Agile, Audi, Volvo).


Three breakthrough lists this past year: Hurun Good Doctors’ List, a ranking of the 9500 most respected doctors in China, broken down by region and speciality; Hurun Best International Schools List; and Hurun Creative Works Intellectual Property List, in Search of the Harry Potter of China, ranking those online novels with the most valuable IPs.


The Hurun Art List ranks the top artists alive today in China for the 12th year and has become a household name amongst artists.


Media and Events ‘The Hurun brand gets 300 million views a month in China’

The Hurun brand has become one of the few media brands to become a household name across China and India.


Hurun Media monetizes 2 million views a month in China, through its wechat, weibo, website and legacy magazine.


Recent themed events include blockchain, fintech and 30 under 30, with industry-respected awards. We deliver 100+ events a year in China, with 200 entrepreneurs from the Hurun China Rich List attending.


Hurun Report does events across the world.  In the last year, Hurun Report has held events in Toronto, New York, LA, London, Paris, Istanbul, Luxembourg, Sydney and Singapore. Hurun Report’s mission is to create the world's largest platform of China gatekeepers.


Investments

Hurun Investments has a portfolio of 20 companies with a market value of US$50 million, with investments into tech, media, design, education as well as a vintage car race and a tailor.

 




TABLE: Top 100 - Hurun Global Rich List 2020

For the full list of 2,816 billionaires in the world, see www.hurun.net

Rank

Rank Change

Name

Net Worth US$Bn

Main Company

Age

Country of Residence

1

0

Jeff Bezos

140

Amazon

56

USA

2

2

Bernard Arnault

107

LVMH

70

France

3

-1

Bill Gates

106

Microsoft

64

USA

4

-1

Warren Buffett

102

Berkshire Hathaway

89

USA

5

0

Mark Zuckerberg

84

Facebook

35

USA

6

1

Amancio Ortega

81

Inditex

83

Spain

7

-1

Carlos Slim Helu   & family

72

America Movil

80

Mexico

8

0

Sergey Brin

68

Google

46

USA

9

1

Larry Page

67

Google

46

USA

9

-1

Mukesh Ambani

67

Reliance

62

India

9

12

Steve Ballmer

67

Microsoft

63

USA

12

6

Alice Walton

59

Walmart

70

USA

13

7

Michael Bloomberg

58

Bloomberg

77

USA

14

-2

Jim Walton

57

Walmart

71

USA

15

-3

Francoise   Bettencourt Meyers

56

L'Oreal

66

France

16

1

Bertrand Puech &   family

55

Hermes

83

France

16

-2

Robson Walton

55

Walmart

75

USA

18

-7

Larry Ellison

54

Oracle

75

USA

19

0

Phil Knight

49

Nike

81

USA

20

10

Elon Musk

46

Tesla Motors

48

USA

21

1

Ma Yun & Family

45

Alibaba

56

China

22

0

Francois Pinault   & family

44

Kering

83

France

22

2

Ma Huateng

44

Tencent

49

China

22

New

MacKenzie Bezos

44

Amazon

49

USA

25

-10

Charles Koch

39

Koch Industries

84

USA

25

New

Julia Koch &   family

39

Koch Industries

57

USA

27

26

David Thomson &   family

38

Thomson Reuters

62

Canada

28

-1

Jacqueline Mars

36

Mars

80

USA

28

-1

John Mars

36

Mars

84

USA

30

New

Giovanni Ferrero

34

Ferrero Rocher

55

Belgium

31

-5

Xu Jiayin

33

Evergrande

62

China

32

-2

Sheldon Adelson

32

Las Vegas Sands

86

USA

33

2

Leonardo Del Vecchio

29

Luxottica

84

Italy

33

20

Vladimir Potanin

29

Interros

59

Russia

35

-6

Li Ka-shing

28

Cheung Kong

92

China

35

-1

Michael Dell

28

Dell Technologies

54

USA

35

94

Sun Piaoyang &   Zhong Huijuan

28

Hengrui, Hansoh

62, 59

China

38

-6

Lee Shau Kee

27

Henderson Land

92

China

38

2

SP Hinduja &   family

27

Hinduja

84

UK

38

-3

Yang Huiyan &   Family

27

Country Garden

39

China

41

-8

Carl Icahn

26

Icahn Enterprises

83

USA

41

3

He Xiangjian &   Family

26

Midea

78

China

43

106

Laurene Powell Jobs   & family

24

Walt Disney

56

USA

44

-2

Masayoshi Son

23

Softbank

62

Japan

45

-1

Alain Wertheimer

22

Chanel

71

France

45

-7

Dieter Schwarz

22

Schwarz

84

Germany

45

28

Ding Lei

22

Netease

49

China

45

-1

Gerard Wertheimer

22

Chanel

70

USA

45

-10

Jorge Paulo Lemann

22

3G Capital

80

Switzerland

45

-5

Leonid Mikhelson

22

Novatek

64

Russia

51

-7

James Simons

21

Renaissance   Technologies

81

USA

51

22

Takemitsu Takizaki   & family

21

Keyence

74

Japan

51

22

Vagit Alekperov

21

Lukoil

69

Russia

54

3

Charoen Sirivadhanabhakdi

20

Thai Beverage

75

Thailand

54

46

Stephen Schwarzman

20

Blackstone

72

USA

56

-14

Gennady Timchenko

19

Gunvor

67

Switzerland

56

237

Qin Yinglin &   Qian Ying

19

Muyuan

55, 54

China

56

-3

Rupert Murdoch

19

News

88

USA

56

44

Wang Wei

19

SF Express

49

China

60

28

Eric Schmidt

18

Google

64

USA

60

13

Huang Zheng

18

Pinduoduo

40

China

60

-16

Leonard Blavatnik

18

Lyondellbasell

62

UK

60

13

R Budi Hartono

18

Bank Central Asia

79

Indonesia

60

13

Ray Dalio

18

Bridgewater   Associates

70

USA

60

-16

Thomas Peterffy

18

Interactive Brokers

75

USA

60

6

Vladimir Lisin

18

Novolipetsk Steel

63

Russia

60

52

Zhang Zhidong

18

Tencent

48

China

68

-11

Donald Bren

17

Irvine Company

87

USA

68

-24

Elaine Marshall   & family

17

Koch Industries

77

USA

68

89

Gautam Adani

17

Adani Enterprises

57

India

68

-11

Henry Cheng Kar-shun   & family

17

Chow Tai Fook

72

China

68

-11

Hugh Grosvenor

17

Grosvenor

29

UK

68

-2

Joseph Lau Luen Hung

17

Chinese Estates

69

China

68

-24

Joseph Safra

17

Safra

80

Brazil

68

-2

Lee Kun Hee

17

Samsung

78

South Korea

68

20

Michael Hartono

17

Bank Central Asia

80

Indonesia

68

20

Petr Kellner

17

PPF

55

Czech Republic

68

290

Shiv Nadar &   family

17

HCL

74

India

68

44

Tadashi Yanai

17

Fast Retailing

70

Japan

68

-11

Wang Jianlin &   family

17

Wanda

66

China

68

-15

Yan Hao

17

China Pacific   Construction

34

China

82

18

Abigail Johnson

16

Fidelity

58

USA

82

30

Andrey Melnichenko

16

Suek

47

Russia

82

-44

Dietrich Mateschitz

16

Red Bull

75

Austria

82

47

Klaus-Michael Kuhne

16

Kuehne & Nagel

82

Switzerland

82

18

Lukas Walton

16

Walmart

33

USA

82

-9

Roman Abramovich

16

Millhouse

53

Russia

82

-25

Viktor Vekselberg

16

Renova

62

Russia

82

6

Yao Zhenhua

16

Baoneng

50

China

82

110

Zhang Yong & Shu   Ping

16

Haidilao

49, 50

China

91

-18

Beate Heister

15

Aldi Sued

68

Germany

91

58

Chen Jianhua &   Fan Hongwei

15

Hengli

49, 53

China

91

-18

Karl Albrecht Jr   & family

15

Aldi Sued

72

Germany

91

21

Lakshmi N Mittal

15

ArcelorMittal

69

UK

91

38

Li Shufu &   family

15

Geely

57

China

91

-18

Reinhold Wurth &   family

15

Wurth

84

Germany

91

-3

Robert Kuok

15

Kuok Brothers

96

China

91

-25

Ronald Perelman

15

Scientific Game

77

USA

91

9

Steve Cohen

15

Sac Capital

63

USA

91

38

Uday Kotak

15

Kotak Mahindra

60

India

91

9

Xu Rongmao &   family

15

Shimao

70

China

Source: Hurun Global Rich List 2020


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Hurun Global Rich List ENGLISH 200226a.docx

新闻稿:《2020世茂深港国际中心•胡润全球富豪榜》200226a.docx

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Keywords:Global Rich List 、US-Dollar billionaires
Editor:Porsha Pan