Jack Ma has retained the top billionaire spot in China for the third year in a row.
Jack Ma, founder of Alibaba, retained the top spot for the third year in a row, with his personal wealth jumping 45% to US$58.8 billion partly due to the impending mega-listing of fintech giant Ant Group. More wealth was created this year than in the previous five years combined, with China’s rich-listers adding US$1.5 trillion, roughly half the size of Britain’s GDP.
According to a separate estimate by PwC and UBS, only billionaires in the US possessed greater combined wealth than those in mainland China.
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