There has been a big rise in the number of billionaires in China, with a developer who bought one of the biggest US cinema chains being named the country’s wealthiest tycoon.
Chinese people worth at least $1B has risen by 64 to 315 this year thanks to a surge in stock prices, according to the Hurun Report, which follows China’s wealthy.
The top five on the rich list saw their wealth double, Hurun said.
Property developer Wang Jianlin is the richest man in China and is in charge of Dalian Wanda Group, a company that operates hotels, cinemas and department stores.
He has a fortune of $22B ahead of last year’s top billionaire, beverage entrepreneur Zong Qinghou, who came in second with $18.7B.
Read more at Sky News.