Beijing has become the new billionaire capital of the world, with 100 of them living there, surpassing New York, which is home to 95 billionaires.
The survey, which comes months after reports that there are more billionaires in China than in the United States, indicates that China's elite continue to amass enormous wealth despite stock market turmoil and a weakening economy, Shanghai-based magazine Hurun reports.
Different wealth lists, such as the Hurun and Forbes lists, have historically had slightly different results depending on their methodology.
Rupert Hugeverf, who manages the Hurun Report, announced that there is a large percentage of self-made billionaires in China compared to billionaires in the US, reports Capital.ba.
"We've shown today that the Chinese are now leading the way in superwealth creation," Hugewerf said.
According to him, people will now look at China the same way they looked at Silicon Valley in the 90s.
Moscow is in third place with 66 billionaires, while Hong Kong and Shanghai are in fourth and fifth place with 64 and 50 billionaires, respectively.
Among the Chinese billionaires who made it to the global list of the 100 richest are the owner of the company Vanda, Wang Jianlin, the founder of the company Alibaba, Jack Ma and the owner of the brewery, Zong Kuinghou.
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