Sunday, April 17, 2011

China Might Surpass The U.S. In Billionaires Within 5 Years

It may be surprising, but China might surpass the U.S. in billionaires within 5 years if current economic growth continues at the rapid rate there, although some signs are that the current wave of high oil prices might be slowing every major world economy. Currently, the U.S. has 412 billionaires, followed by China at 115. Russia has 101 billionaires followed by India at 55. Germany has 52, Turkey has 38, Hong Kong 36, UK 33, Brazil 30 and Japan 26.

The list of world billionaires has many surprises here. And the biggest surprise according to FORBES is that the number of Chinese billionaires increased by 64 from a year earlier, meaning that within 5 years China could surpass the U.S.

Much like the Internet boom in the U.S. which created many young billionaires, China's booming economy is creating many young self-made billionaires as well such as Chen. Just like the story of Bill Gates, China and other industrializing nations seem to be creating a new wave of billionaires who find a new opportunity where others haven't looked.