Chinese make up nine in 10 of Asia’s richest ‘millennials’, aged 18-34
Indian jewellery magnate rounds out the list, which is notable too for the presence of three women and for the fact seven of the 10 inherited their wealth
Rich individuals from China claimed nine of the spots on a list of Asia’s 10 wealthiest millennials issued by Wealth-X, a wealth intelligence consultancy firm.
The term millennials refers to those born between the years 1981 and 1997. Three of the nine featured on the list are women from China, who have a combined wealth of approximately US$10 billion, about 44 per cent of the top 10’s total wealth, the firm's report said. Two on the list are from Hong Kong, while the rest are from mainland China.
Of the 10, three made their own wealth; the only non-Chinese millennial is indian.
In recent years, China’s rising billionaire class has created a second generation of wealthy millennials. In Forbes’ 2015 China Rich List, 213, or about 57 per cent of all ethnic Chinese billionaires in the world, came from mainland China. Mainland Chinese businesspeople have also increased their wealth by more than 20 per cent annually in the past three years. Five of the 10 richest on the Forbes list were from mainland China, and four were from Hong Kong.
The 10 wealthiest millennials in Asia:
1. Yang Huiyan