Feeds

Top UK billionaires considerably richer than Chinese ones ... for now

However, note that we didn't say British billionaires there

  • alert
  • submit to reddit

Secure remote control for conventional and virtual desktops

A rundown of the richest people in China has revealed that the very wealthiest British billionaires collectively boast more cash than their counterparts in the People's Republic.

The top ten wealthiest Chinese citizens are worth a total of £69.31billion ($109.3billion), according to an annual analysis by the Hurun Research Institute released today, whereas the Sunday Times Rich List reveals that the top ten British fatcats are worth a total of £93.4billion ($147.5billion).

However, this looks almost certain to change, based on the speed at which the Chinese superrich are raking in dosh. According to Hurun, the average wealth of the Hurun Top 1000 richest folk has shot up by 21 percent this year to a record high of around £659.5million ($1.04billion). This figure has more than doubled since the financial crash of 2008, when the average was about £278million ($439 million).

The cutoff point for inclusion in the list has also shot up to a record high of £206million($325 million), more than three times the 2008 cut off.

Rupert Hoogewerf, Hurun Report Chairman and Chief Researcher, said:

“Strong performances in real estate and IT have driven China’s richest to new records.”

The richest person in China is real-estate guru Wang Jianlin, who is worth a whopping £13.9bn ($22bn). The wealthiest tech industry billionaire is Pony Ma Huateng, founder of Tencent, who is in third place with a fortune of £6.4bn ($10.1bn), followed by Robin Li Yanhong, owner of social network Baidu, in sixth place with £5.1bn ($8.1bn), and Jiang Bin & family - owners of component manufacturer GoerTek Inc - in joint tenth place with £3.9bn ($6.1bn).

Any analysis of Britain's richest people cannot fail to notice that few are actually from this green and pleasant land. Rather they have chosen to live here, perhaps having struck an amicable deal with Her Majesty's taxmen.

There are no tech billionaires among the top ten richest people in the UK and just three British citizens - David and Simon Reuben, whose fortune is shared, and Gerald Grosvenor, 6th Duke of Westminster. Uzbek mining titan Alisher Usmanov is the richest person in the UK, with a fortune of £13.3bn ($21bn).

The average Chinese millionaire is aged 49.5, according to research from Spears Magazine, while they are about 55 years old in the UK.

Hurun Research estimated that a quarter of its Rich List 2013 were members of the Communist Party. ®

Boost IT visibility and business value

More from The Register

next story
Assange™: Hey world, I'M STILL HERE, ignore that Snowden guy
Press conference: ME ME ME ME ME ME ME (cont'd pg 94)
Premier League wants to PURGE ALL FOOTIE GIFs from social media
Not paying Murdoch? You're gonna get a right LEGALLING - thanks to automated software
Online tat bazaar eBay coughs to YET ANOTHER outage
Web-based flea market struck dumb by size and scale of fail
Amazon takes swipe at PayPal, Square with card reader for mobes
Etailer plans to undercut rivals with low transaction fee offer
US regulators OK sale of IBM's x86 server biz to Lenovo
Now all that remains is for gov't offices to ban the boxes
XBOX One will learn to play media from USB and DLNA sources
Hang on? Aren't those file formats you hardly ever see outside torrents?
Class war! Wikipedia's workers revolt again
Bourgeois paper-shufflers have 'suspended democracy', sniff unpaid proles
'Aaaah FFS, 'amazeballs' has made it into the OXFORD DICTIONARY'
Plus: 'EE, how shocking, ANOTHER problem I face with your service'
prev story

Whitepapers

Endpoint data privacy in the cloud is easier than you think
Innovations in encryption and storage resolve issues of data privacy and key requirements for companies to look for in a solution.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Solving today's distributed Big Data backup challenges
Enable IT efficiency and allow a firm to access and reuse corporate information for competitive advantage, ultimately changing business outcomes.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.