China’s rich are relatively young – Rupert Hoogewerf

Image by Fantake via Flickr

Compared to the rich in the developed nations, China’s well-to-do are relatively young, tells Rupert Hoogewerf, composer of the Hurun rich list, the New York Times.

Typically, a Chinese individual worth $150 million or more is about 50 years old — about 15 years younger than someone in that category in Britain or the United States, Mr. Hoogewerf said.

The average age of someone with 100 million yuan, or about $15 million, is 43. The approximately 825,000 Chinese with personal wealth of 10 million yuan are on average as young as 39, according to Hurun’s data — again, about 15 years younger than their counterparts in America or Europe.

“Much of this wealth has only been created since the 1980s — in other words, a solid generation later than in Hong Kong or Taiwan. You’d have to look back to the late nineteenth century in the United States or to the industrial revolution in Britain, to find anything comparable to the wave of entrepreneurs who are now starting up in China,” Mr. Hoogewerf said.

Commercial
Rupert Hoogewerf is a speaker at the China Speakers Bureau. Do you need him at your conference or meeting? Do get in touch.