Once again, China sets a new record. This times its for billionaires as there are an astonishing 168 billionaires in China in 2012, up from 146 a year earlier, according to Forbes magazine’s annual China Rich List, which ranks the 400 richest people in China
. Real-estate tycoon Wang Jianlin took the top spot for the first time with a net worth of $14bn billion, pushing Zong Qinghou, last year’s winner and owner of beverage company Wahaha, into second place with a mere US$11.2bn.
Switching from the old economy to the new Robin Li, founder and CEO of Baidu, often described as “China’s Google” dropped from second to third place with $11.1bn
Unsurprsingly, most of China’s wealthiest citizens have made their their fortune through real-estate investment.