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The Number Of Chinese Billionaires Has Increased 11,700% In The Past Decade

Drake BaerJan 7, 2015, 22:16 IST

As you've probably heard, China has gotten really rich, really fast.

You can see it in the number of absurdly wealthy people the People's Republic now holds.

According to GQ, which analyzed the Hurun list of Chinese billionaires, there were three billionaires in China in 2004.

By 2014, there were 354.

That's an 11,700% increase.

America still has the most billionaires at 492. But the American growth rate is much slower than China's - the US had 274 billionaires in 2004, representing an increase of about 80% in the past decade.

Even with China's economic slowdown, GQ estimates that China will overtake the US in billionaire-count within two years.

What will the Chinese mega-rich buy with all their money? Probably a mega yacht or two.