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Forget trade wars, U.S. and China compete for most billionaires

Category: Finance

That surge comes largely from two places: Asia, specifically China, and the U.S.

The U.S. added 53 billionaires in 2017 — a 4 percent increase — bringing its total to 585 and representing $125 billion in total wealth.

China's billionaire population grew at a faster clip — two new billionaires per week. The country added 106 billionaires over the course of the year, while 51 fell off the list, "illustrating the risks of doing business in China," the report said.

As a result, China added 55 billionaires net for a total of 373 in 2017. In 2006, the country had just 16 billionaires.


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