Mainland China has seen its number of billionaire rising by 5.6% last year to 321, reversing a drop in recent years, according to a new report.This makes China the second biggest home for billionaires behind the U.S. with a headcount of 1,135 by last year, according to a recent report by New York-based data analyzing firm Altrata.
Mainland Chinese billionaires collectively held about US$1.29 trillion in wealth, while their American counterparts had $5.74 trillion. Germany came third with 184 billionaires, followed by the U.K and Russia, both with 128. Altrata said that portfolios of the ultra-wealthy Chinese had been impacted by the property sector distress, regulatory pressure, softer domestic consumption and volatile capital markets.
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