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As China’s stock market goes, so goes its billionaire population. And last year was not a good year for many Chinese stocks. As a result, the number of mainland Chinese billionaires on Forbes’ World’s Billionaires list fell for the third consecutive year. A total of 406 Chinese billionaires made the ranking, down from 495 a year ago and a record 626 in 2021. Continued fallout from the pandemic and geopolitical tension drove down stock prices and hurt economic growth in the world’s second largest economy. A deepening slump in the country’s property market also diminished fortunes.<br/><br/>Still, mainland China has the second largest number of billionaires globally, behind only the U.S., which has 813 billionaires this year.<br/><br/>Mainland China doesn’t include passport holders from Hong Kong or Macau, whom Forbes lists separately. Counting those billionaires, greater China has 473 members, down from 562 in 2023, 607 in 2022 and 698 in 2021.<br/><br/>The Forbes World’s Billionaires list is a snapshot of wealth using stock prices and exchange rates from March 8, 2024. Some people become richer or poorer within days of publication. We list individuals rather than multigenerational families who share fortunes, though we include wealth belonging to a billionaire’s spouse and children in certain cases, namely if that person is the founder of the fortune. For Russian billionaires, fortunes were calculated using ownership structures from February 2022, prior to Russia’s invasion of Ukraine and before many made transfers of assets to managers, friends and others in an effort to protect their holdings from sanctions. We value a variety of assets, including private companies, real estate, art and more. We don’t pretend to know each billionaire’s private balance sheet (though some provide it). When documentation isn’t supplied or available, we discount fortunes. For daily updates of net worths, go to forbes.com/real-time-billionaires.<br/><br/>Read the full story on Forbes: https://www.forbes.com/sites/russellflannery/2024/04/02/the-10-richest-chinese-billionaires-2024/?sh=7eb8b36d6b40<br/><br/>Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1<br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/>Stay Connected<br/>Forbes newsletters: https://newsletters.editorial.forbes.com<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com<br/><br/>Forbes covers the intersection of entrepreneu
How China's Richest Billionaires Made Their Money In 2024
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What a year it’s been for the planet’s billionaires, whose fortunes continue to swell as global stock markets shrug off war, political unrest and lingering inflation. There are now more billionaires than ever: 2,781 in all, 141 more than last year and 26 more than the record set in 2021. They’re richer than ever, worth $14.2 trillion in aggregate, up by $2 trillion from 2023 and $1.1 trillion above the previous record, also set in 2021. Two-thirds of the list’s members are worth more than a year ago; only one fourth are poorer. Much of the gains come from the top 20, who added a combined $700 billion in wealth since 2023, and from the U.S., which now boasts a record 813 billionaires worth a combined $5.7 trillion. China remains second, with 473 (including Hong Kong) worth $1.7 trillion, despite weak consumer spending and a real estate bust that helped wipe out $200 billion in wealth and knocked 89 billionaires from the ranks. India, which has 200 billionaires (also a record), ranks third.To calculate net worths, we used stock prices and exchange rates from March 8, 2024. See below for the full list of the world’s billionaires and our methodology. For daily updated net worths of all 2,781 billionaires, check out our real-time billionaires rankings.<br/><br/>Read the full story on Forbes: https://www.forbes.com/sites/chasewithorn/2024/04/02/the-100-billion-club-these-14-people-have-12-figure-fortunes/<br/><br/>Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1<br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/>Stay Connected<br/>Forbes newsletters: https://newsletters.editorial.forbes.com<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com<br/><br/>Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.
The 5 Richest Billionaires In The World 2024
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$14.2 trillion, on Forbes’ 2024 World’s Billionaires list—but not everyone is celebrating. An unlucky quarter of those on the ranking are poorer than they were in 2023. And 189 people fell below the $1 billion threshold, losing their membership to the three-comma club entirely.<br/><br/>These billionaire drop-offs include moguls behind some notable brands, such as Estée Lauder heir Gary Lauder; Hajime Satomi, former CEO of Japanese gaming company Sega Sammy; and David Tran, owner of the company behind Sriracha hot sauce.<br/><br/>The overwhelming majority of the losses came from China, one of the few huge markets to sputter in an otherwise-positive year amid fallout from slower economic growth, a property market glut, a decline in foreign investment and rising geopolitical tensions. China shed 133 billionaires (including Hong Kong and Macau) since last year’s list. That includes Tang Binsen, founder of the sparkling water company Chi Forest; Hui Ka Yan, chair of embattled real estate developer Evergrande Group; and copper and cable magnate Wang Wenyin, who was worth $19 billion a year ago but dropped from the list after a Chinese court froze his shares of metals company Amer International Group.<br/><br/>The United States, meanwhile, which has the most billionaires of any country, only saw eight billionaires drop from the ranks, followed by Japan (6) and Russia (5).<br/><br/>Read the full story on Forbes: https://www.forbes.com/sites/richardjchang/2024/04/02/heres-who-fell-off-forbes-2024-billionaires-list/?sh=5134cd861fd0<br/><br/>Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1<br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/>Stay Connected<br/>Forbes newsletters: https://newsletters.editorial.forbes.com<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com<br/><br/>Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.
5 People Who Fell Off The 2024 Billionaires List
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A pair of sisters moving from Hunan to Hong Kong in the 1990's are faced with an identity crisis, poverty and their father's drug addiction.
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