LBillionaires are Rupert Hoogewerf’s passion. A former consultant at Arthur Andersen, this 53-year-old Luxembourger settled in Shanghai to found, in 1999, the company bearing his Chinese name, Hu Run. In twenty years, his ranking of the planet’s billionaires has become a reference.
The adventure of this Chinese immigrant alone tells the story of the shift at the beginning of the century, which he illustrates in figures, those of the ultra-rich. Her 2023 ranking, based on the value of their assets as of January 15, 2024, further demonstrates the power of its adopted country, because China has the largest number of billionaires (814) in the world, ahead of the United States (800). . A planet of money that continues to grow, since Hurun counts 3,279 billionaires around the globe (+ 5% in one year), and their assets, estimated at 15,000 billion dollars (approximately 13,855 billion euros) , grew at the same time by 9%.
But Rupert Hoogewerf may have to move to keep up with his billions. For example in Mumbai, the capital of Indian business. Because the big news is not the rise of China, but its decline. It lost 155 billionaires and, in two years, 40% of its list members left, although new arrivals (120 in the past year) have partially made up for this drop.
Rise of artificial intelligence
Even more symbolic, Mumbai has become the Asian city hosting the most billionaires (92), behind New York and London, but beating Beijing to the post. The fall in Chinese real estate, the difficulties of its solar panel producers or the slump of its stock market contrast with the thunderous growth of India (+ 7.5% in 2023) and its exuberant financial markets.
With his 115 billion dollars, the Indian Mukesh Ambani is the richest man in Asia, even if he is only tenth in the world, far behind Elon Musk (231 billion dollars) and Bernard Arnault (175 billion of dollars). Americans have been propelled in particular by the rise of artificial intelligence and the return to form of Internet stars.
The wheel of fortune therefore always turns, but there is one constant: this concentration of dollars at the top hardly irrigates what is below. In China, wealthy households have seen their assets shaken by the real estate crisis, and in India, the richest 1% now account for 40% of total national wealth. The highest level of inequality ever recorded in the country since records began. The Indian miracle is very selective.