China’s super rich get $1.5 trillion richer during pandemic

Ma: Still on topof the rich list. (AFP photo)

BEIJING: China’s super wealthy have earned a record $1.5 trillion in 2020, more than the past five years combined, as e-commerce and gaming boomed during pandemic lockdowns.

An extra 257 people also joined the billionaires club in the world’s second-biggest economy by August, following two years of shrinking membership, according to the closely-watched Hurun Report.

The country now has a total of 878 billionaires. The United States had 626 people in the top bracket at the start of the year, according to Hurun in its February global list.

The report found that there were around 2,000 individuals with a net worth of more than two billion yuan ($300 million) in August, giving them a combined net worth of $4 trillion.

Jack Ma, founder of e-commerce titan Alibaba…

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