The Atlanta Journal-Constitution
Billionaires by the numbers
BANGKOK — Stock market meltdowns in 2018 obliterated $1 trillion of the fortunes of the world’s richest individuals, according to a list by wealth compiler Hurun Report. The report, China’s version of the Forbes rich list, showed Chinese billionaires still outnumbered those from any other country as of Jan. 31, at 658 (the wealthiest in China was Alibaba founder Jack Ma, the world’s 22nd-richest with $39 billion, while 212 Chinese tycoons lost their dollar billionaire status). The U.S. had 584 billionaires. The biggest gains in wealth last year came in the areas of technology, media and telecoms.
Richest of the rich
Amazon founder Jeff Bezos topped the global chart for the second year running, with wealth estimated at $147 billion. Bill Gates ranked second ($96 billion) and Warren Buffett third ($88 billion). President Donald Trump’s wealth fell by $500 million last year, the report said, to $3 billion, or 793rd.
How many are worth a billion?
Overall, the report said there are at least 2,470 billionaires, down 224 from last year. Their total overall wealth fell by $950 billion from the year before to $9.6 trillion thanks to stock market gyrations and a strong U.S. dollar, it said. Hurun CEO Rupert Hoogewerf said he believes world billionaires may number over 6,000 people, since many seek to hide the extent of their wealth.
Geography of wealth
While the apex of the world’s wealthiest remains in the U.S. and Europe, such lists show the evolving landscape of economic power. Beijing was the city with the most billionaires, at 103, followed by New York at 92 and Hong Kong with 69. Of the top 20 cities with the most billionaires, 13 were in Asia. Last year’s market meltdowns took the biggest toll on Japan, where the Tokyo Stock Exchange lost 43 percent of its value.
Billionaire creator
According to the list, the company that created the most billionaires was Thailand’s CP Group, a conglomerate with operations spanning agriculture, telecoms, retailing and finance, which had added five to its total of 17 as of the end of January.