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'Turning point' as China billionaires overtake US

Published Thu, Oct 15, 2015 · 09:50 PM
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Shanghai

THE number of billionaires in China has overtaken that of the United States for the first time, an annual survey said on Thursday, calling it a "turning point" for the super-wealthy.

Communist-ruled China now has 596 billionaires, up a "staggering" 242 over the last year, Shanghai-based luxury magazine publisher Hurun Report said, surpassing the 537 Americans.

"The world used to look to American entrepreneurs . . . for inspiration. This year, 2015, is a turning point," Hurun Report chairman Rupert Hoogewerf t…

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