Did the world’s top 10 billionaires get richer or poorer this past year?

“A boom in tech valuations and strong stock markets across the US, India and China has propelled the number of billionaires to record heights [in 2020],” said Rupert Hoogewerf, Hurun Report chairman and chief researcher. “China today has more billionaires than the US and India combined.”

Today, the US has 626 billionaires, while China added 182 new faces to hit 799 billionaires – three times the number of new faces in the US. There were also some dropouts.

But in 2014, a Barclays Wealth Report found that around half of China's rich intended to move to another country within five years. Given that it’s been six years since that report, here are five incredibly wealthy people who have left the country – and where they went instead.

1) Singapore

Zhang Yong, the founder of Sichuan hotpot chain Haidilao, became a Singaporean citizen last year to claim top spot on the 2019 Singapore’s 50 Richest List, published by Forbes Asia.

However, things could soon change. His wealth rose to US$16 billion after his company’s HK$7.6 billion (US$963 million) initial public offering (IPO) in Hong Kong in September 2018. But the share price has dropped significantly since the coronavirus outbreak.

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2) Australia

Huang Xiangmo, CEO of real estate developer Yuhu Group, moved to Australia in 2011. Huang had his assets frozen by the Australian Tax Office (ATO) in September 2019 for an A$140 million (US$84 million) tax bill. The following month, he contested an ATO order to disclose his worldwide assets.

He does not appear to be short on funds. That same month, he paid HK$520 million (US$67 million) for a new house in Repulse Bay in Hong Kong.

However, things are up in the air for the controversial businessman. Last year, Australian authorities cancelled his permanent residency and barred his application for citizenship over concerns relating to his political involvement and alleged tax fraud.

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3) Canada

Chen Mailin, a former duck farmer turned tycoon, has made waves with his purchases since moving to Canada.

The Canadian permanent resident bought a C$51.8 million (US$40 million) mansion in Vancouver from the CEO of game developer Zynga in 2015 in was reputedly the most expensive home purchase in Canadian real estate history.

Last year, his son made headlines when he bought a C$5.1 million customised Bugatti sports car in Vancouver with his father’s UnionPay credit card.

4) United States

Zhang Yin, chairwoman of Nine Dragons Paper Holdings, built her Chinese fortune by moving to the US. The Guangdong native started her paper recycling company in Hong Kong. But she found better quality and more abundant recyclable paper raw materials in the US.

The green card holder turned trash into cash by exporting the waste paper to China and processing it there. She now ranks among China’s richest women.

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5) Hong Kong/London

Cheung Chungkiu, the founder and managing director of property developer Yugang International, is from Chongqing but is now based in Hong Kong.

In January, he agreed to buy a 45-room mansion overlooking Hyde Park in London for more than £200 million (US$258 million), which would make it the most expensive house in the UK.

It makes a nice addition to the £1.15 billion skyscraper he already owns in the city.

Cheung has yet to decide whether to use his latest real estate purchase as a family home.

As Asia’s most-moneyed make their mark on the global stage, in this Crazy Rich Asians series, we chart the rise of the region’s richest families, most inventive entrepreneurs – and how they spend their epic wealth.

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