- The Washington Times - Wednesday, March 3, 2021

China, guided in theory by the ruling Communist Party’s Marxist-Leninist ideals, has achieved an unlikely milestone — surpassing the United States as the country with the largest population of billionaires.

According to the 2021 Hurun Global Rich List released this week, China has become the first country in history with more than 1,000 billionaires, clocking in with 1,058 residents worth $1 billion or more — in U.S. dollar terms — at the start of 2021. That’s an increase of 259 billionaires in China from the start of 2020, and comes despite rising economic friction with the U.S. and a global pandemic that decimated trade and economic growth around the globe.

The U.S. finished second in the billionaire race with 696. India, Germany, Britain and Switzerland are the other countries that can boast of at least 100 billionaires.

Nearly one-third of the world’s 3,228 billionaires live in China, according to the survey, although Americans Elon Musk and Jeff Bezos still top the list of the planet’s wealthiest individuals.

Zhong Shanshan, founder of the Nongfu Spring bottled water behemoth, is China‘s wealthiest man at No. 7 on the list, with a fortune estimated at $85 billion, Mr. Zhong is the first Chinese national to make the Hurun global top ten.

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