Ant is expected to create more mega-rich through what is likely to be the world’s biggest IPO, as it plans to raise an estimated $35 billion through a dual listing in Shanghai and Hong Kong.
More wealth was created this year than in the previous five years combined, with China’s rich-listers adding $1.5 trillion, roughly half the size of Britain’s GDP. “The world has never seen this much wealth created in just one year. China’s entrepreneurs have done much better than expected. Despite Covid-19 they have risen to record levels.”
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