Of China’s 358 billionaires, 90 hold senior political positions

Stacy Summary: It was only yesterday that the UK & US media were coming down from their orgy of heehawing about Yanukovych’s ‘lavish mansion.’ And yet, they mock not the Chinese billionaires they welcome with open arms. Fine. But you can’t mock one set of corrupt officials and then hail another.

Of China’s 358 billionaires, 90 hold senior political positions

China minted 41 new billionaires over the past year, driven largely by growth in the technology industry, according to a new rich list.

The mainland now boasts a total of 358 U.S. dollar billionaires who have amassed a total worth of $963 billion, the report compiled by the country’s Hurun research institute said.

That puts China second only to the U.S., which spawned 72 new billionaires, pushing its total to 481, based on a “snapshot” of data on January 17.

Ma 192

Ma 192

4 comments on “Of China’s 358 billionaires, 90 hold senior political positions
  1. Snooze says:

    Same old nonsense, just a different location. These days the billionaires lobby government to receive government contracts. China’s elite has its insiders, and America has the revolving door. Name me a country free from corruption?

  2. WeLoveIt! says:

    Das Kapitalists!

    actually,
    diese Kapitalisten!

  3. Chris says:

    Good old communist “principles.” Chuck a load of money at them and suddenly bourgeois and even aristocratic tendencies surface. Not just China – Yanukovych lived in a theme park while his people lived in slums…..and still they kept voting for the prick.

  4. Max Power says:

    Both MK and the article failed to do the basic math :

    (90/358) = 25%

    Does China have more than 358 (“SDR” value equivalent) billionaires?

    Probably.

    A family can have 1 thousand million SDRs.

    Are there some that are in less obvious positions of government power?

    Probably.

    I suggest 565 billionaires with about 33% holding positions of government power in the past 10 years.

    I am not wishing to be critical of any of them, providing they keep the productive economy functioning and the environment hopefully as little damaged as possible.

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