The combined wealth of mainland China’s billionaires soars 22 per cent to US$1.77 trillion; Hong Kong’s ultra-rich population rises.

Mainland China’s billionaires have tightened their grip as Asia-Pacific’s wealthiest after their combined fortunes swelled to nearly US$1.8 trillion, with electric-vehicle (EV) maker BYD’s founder Wang Chuanfu and bubble tea chain Mixue’s bosses among the biggest drivers of that growth, according to a UBS report. Backed by a booming tech sector and surging asset prices, the wealth of mainland China’s billionaires jumped 22.2 per cent year on year to US$1.77 trillion in the 12 months to early…

From China - South China Morning Post via This RSS Feed.