China, US entrepreneurs dominate world’s young billionaires list
About 80 per cent of the world’s entrepreneur billionaires are now from the United States and China
This article was written by Jessica Rapp and originally published on Jing Daily
It’s no secret that China’s growing wealth makes it a hub for billionaires, but Hurun’s latest “Global Under 40 & Self Made Rich List” puts it into perspective: according to the report, about 80 per cent of the world’s entrepreneur billionaires are from the United States and China. Rupert Hoogewerf, chairman and chief researcher of Hurun Report, said in a statement, “That should be pretty scary for the rest of the world.”
Leading the ranks in China at number nine, just behind Snapchat founder Evan Spiegel, is Wang Tao, founder of the world’s biggest drone maker DJI Technology who is also known as Frank Wang. The 37-year-old is worth US$4 billion, and his consumer drones are shipped all over the world.
The drone maker recently made headlines when JD.com announced it would be partnering with DJI to pioneer delivery of heavy loads using drones. JD.com’s drone strategy is intended to help the e-commerce company bring products to consumers in rural areas, and is part of the long list of proposed advancements to help it gain a competitive edge against its rival Alibaba.
Wang, a Shenzhen-based CEO, is among those who hope to show Chinese consumers, who often prefer foreign-made products, that Chinese goods can also be synonymous with quality. He told Forbes in a 2015 interview, “Chinese people think imported products are good and made in-China products are inferior. We’re always second-class. I’m unsatisfied with the overall environment, and I want to do something to change it.”
