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China passes US in total number of billionaires

There are now 596 USA dollar billionaires in mainland China, Hurun said in a report released on Thursday, That number jumps to 715 if Hong Kong, Taiwan and Macau are included and compares to 537 American billionaires, based on Hurun's calculations.

"The world used to look to American entrepreneurs... for inspiration".

According to Hurun, 16 of the 1,877 people on its rich list are in different degrees of trouble with the Chinese authorities, including seven under investigation, four awaiting sentencing and three who have disappeared altogether.

"Despite the slowdown in the economy, China's richest have defied gravity, recording their best year ever", Hurun Report Chairman Rupert Hoogewerf said in a statement in Shanghai from where it is published.

Jianlin's net worth of United States dollars 34.4 billion that jumped more than 50 per cent helped by a surge in the stock price of a listed unit...

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