The Hurun Global Rich List published on Tuesday revealed that a record 430 billionaires lost their status in 2018. However, 201 fresh faces have joined the list as well.
Altogether, the people on the list are worth $9.6 trillion, a drop of $950 billion from the previous year. “Poor stock market performances and an appreciating dollar were the main reasons for this year’s record drop in billionaires,” Rupert Hoogewerf, founder and lead researcher of Hurun Institute, stated.
Where Are All The Billionaires?
While many believed 2018 would prove to add more billionaires from the United States, due to tax cuts, it only added 13 folks to the list. China, on the other hand, added 52 billionaires to the Hurun list even though the Chinese economy saw a slowdown.
In Greater China, there were 658 billionaires who made the list. Jack Ma of Alibaba, an e-commerce giant, remained the richest person in China in 2018 ($39 billion). He is ranked 22nd on the global list of billionaires.
When it comes to the Hurun list, the U.S. is home to the richest person in the world, plus another 583 billionaires. Unsurprisingly, Amazon’s Jeff Bezos topped the list with an estimated net worth of $147 billion. Bill Gates sits at second ($96 billion) and Warren Buffet follows in third ($88 billion).
Germany came in third with a total of 117 billionaires on the list. When it comes to metropolitan areas, Beijing was home to 103 billionaires. New York has 92 and Hong Kong provided a home to 69 billionaires.
Where Does Donald Trump Stand on the List?
Donald Trump’s wealth has been a center of debate since he took office. He barely made it onto the Hurun list with a net worth of $3 billion. That figure reflects a $500 million drop in the president’s net worth.
Although the number of billionaires dropped last year, there are still 2,470 in the world. Many of them are leaders in different aspects of life. Trump, the leader of the U.S. Bezos, a leader in the way people are thinking about technology.
Readers, what do you think about the billionaires’ list?
Photo: James Duncan Davidson
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