Most Popular
1. It’s a New Macro, the Gold Market Knows It, But Dead Men Walking Do Not (yet)- Gary_Tanashian
2.Stock Market Presidential Election Cycle Seasonal Trend Analysis - Nadeem_Walayat
3. Bitcoin S&P Pattern - Nadeem_Walayat
4.Nvidia Blow Off Top - Flying High like the Phoenix too Close to the Sun - Nadeem_Walayat
4.U.S. financial market’s “Weimar phase” impact to your fiat and digital assets - Raymond_Matison
5. How to Profit from the Global Warming ClImate Change Mega Death Trend - Part1 - Nadeem_Walayat
7.Bitcoin Gravy Train Trend Forecast 2024 - - Nadeem_Walayat
8.The Bond Trade and Interest Rates - Nadeem_Walayat
9.It’s Easy to Scream Stocks Bubble! - Stephen_McBride
10.Fed’s Next Intertest Rate Move might not align with popular consensus - Richard_Mills
Last 7 days
Stock Market Trend Forecast 2024 - 15th June 24
Gold Price Consolidating at High - 15th June 24
NVIDIA Stock Market: Price Prediction for the Future - 15th June 24
When Will the Boom/ Bust Rollercoaster End? - 15th June 24
Stock Market Trouble Lies Ahead. Are You Ready For It? - 15th June 24
Stock Market Investor Sentiment - 8th June 24
S&P 494 Stocks Then & Now - 8th June 24
As Stocks Bears Begin To Hibernate, It's Now Time To Worry About A Bear Market - 8th June 24
Gold, Silver and Crypto | How Charts Look Before US Dollar Meltdown - 8th June 24
Gold & Silver Get Slammed on Positive Economic Reports - 8th June 24
Gold Summer Doldrums - 8th June 24
S&P USD Correction - 7th June 24
Israel's Smoke and Mirrors Fake War on Gaza - 7th June 24
US Banking Crisis 2024 That No One Is Paying Attention To - 7th June 24
The Fed Leads and the Market Follows? It's a Big Fat MYTH - 7th June 24
How Much Gold Is There In the World? - 7th June 24
Is There a Financial Crisis Bubbling Under the Surface? - 7th June 24
Bitcoin Trend Forecast, Crypto's Exit Strategy - 31st May 24
Zimbabwe Officials Already Looking to Inflate New Gold-Backed Currency - 31st May 24
India Silver Imports Have Already Topped 2023 Total - 31st May 24
Gold Has Done Its Job – Isn’t That Enough? - 31st May 24
Gold Stocks Catching Up - 31st May 24
Time to take the RED Pill - 28th May 24
US Economy Slowing Slipping into Recession, But Not There Yet - 28th May 24
Gold vs. Silver – Very Important Medium-term Signal - 28th May 24
Is Gold Price Heading to $2,275 - 2,280? - 28th May 24
Stocks Bull Market Smoking Gun - 25th May 24
Congress Moves against Totalitarian Central Bank Digital Currency Schemes - 25th May 24
Government Tinkering With Prices Is Like Hiding All of the Street Signs - 25th May 24
Gold Mid Tier Mining Stocks Fundamentals - 25th May 24
Why US Interest Rates are a Nothing Burger - 24th May 24
Big Banks Are Pressuring The Fed To Losen Protection For Depositors - 24th May 24
Another Bank Failure: How to Tell if Your Bank is At Risk - 24th May 24
AI Stocks Portfolio and Tesla - 23rd May 24
All That Glitters Isn't Gold: Silver Has Outperformed Gold During This Gold Bull Run - 23rd May 24
Gold and Silver Expose Stock Market’s Phony Gains - 23rd May 24
S&P 500 Cyclical Relative Performance: Stocks Nearing Fully Valued - 23rd May 24
Nvidia NVDA Stock Earnings Rumble After Hours - 22nd May 24
Stock Market Trend Forecasts for 2024 and 2025 - 21st May 24
Silver Price Forecast: Trumpeting the Jubilee | Sovereign Debt Defaults - 21st May 24
Bitcoin Bull Market Bubble MANIA Rug Pulls 2024! - 19th May 24
Important Economic And Geopolitical Questions And Their Answers! - 19th May 24
Pakistan UN Ambassador Grows Some Balls Accuses Israel of Being Like Nazi Germany - 19th May 24
Could We See $27,000 Gold? - 19th May 24
Gold Mining Stocks Fundamentals - 19th May 24
The Gold and Silver Ship Will Set Sail! - 19th May 24

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Who Wants To Be A Billionaire?

Economics / China Economy Mar 17, 2010 - 03:50 PM GMT

By: Tony_Sagami

Economics

Best Financial Markets Analysis ArticleForbes has released its list of the 500 wealthiest people in the world and while there is a little juggling at the top, Bill Gates and Warren Buffet are still the richest men in America with a net worth of $53 and $47 billion respectively. That makes them the second and third richest people in the world.


Who is the richest? According to Forbes, it is Mexican telecommunications king Carlos Slim, with a fortune estimated at $53.5 billion.

Despite losing that top spot, the United States has more billionaires, 403 of them, than any country in the world. There is, however, a new #2 … China.

China now has 64 billionaires, way up from the 28 it had in 2008. The richest man in China is Zong Qinghou, who runs the multi-billion-dollar soft drink firm Wahaha Group, and is ranked 103rd on the list with an estimated wealth of around $7 billion.

More impressive is how fast these Chinese entrepreneurs have amassed their wealth. Five years ago there were only 100 people in China with a net worth of $150 million, but today there are more than 1,000.

Carlos  Slim (right) has surpassed Bill Gates (left) and Warren Buffet as the world's  richest person.
Carlos Slim (right) has surpassed Bill Gates (left) and Warren Buffet as the world’s richest person.

China isn’t the only country in Asia that is sprouting billionaires. The number of Asian billionaires has increased from 140 in 2008 to 234 last year. There are 49 billionaires from India, 64 from China, 25 from Hong Kong, nine from Malaysia, seven Indonesians, four from Singapore, and two from Thailand.

The wealthiest Chinese aren’t found in mainland China, however. The richest Chinese live and work in Hong Kong or Taiwan. You can invest side-by-side with these brilliant businessmen by investing in their companies. Investing with them could be as lucrative as buying stock in Microsoft or Berkshire Hathaway.

Below is a list of those non-mainland Chinese billionaires, a brief description of their company, and the ticker symbol of their stocks on both the Hong Kong Stock Exchange and the U.S. over-the-counter market.

China’s Five Richest Businessmen
Rank
Name
Company
Worth
103
Zong Quinghou
Wahaha
$7.0
154
Liu Yongxing
East Hope
$5.0
176
Zhang Jingdong
Suning
$4.5
189
Wang Chuanfu
BYD Corp.
$4.4
212
Xu Jiayin
Evergreen Real Estate
$4.0

Li Ka-shing ($21 billion): Li is the majority owner of Cheung Kong and Hutchison Whampoa (0013.HK or HUWHY.PK), which makes him the world’s largest operator of container terminals and world’s largest health and beauty retailer. He also owns the Canadian oil firm Husky Energy (HSE.TO or HUSKF.PK).

Lee Shau Kee ($18.5 billion): Lee is the founder of Henderson Land Development (0012.HK or HLDCY.PK), a real estate development company he founded and one of the largest real estate companies in Asia.

The Kwok Family ($17 billion): This is the clan behind the most prestigious real estate development companies in Hong Kong and China, Sun Hung Kai Properties (0086.HK or SUHJF.PK).

Chen Yu-tung ($6.8 billion): Chen is the founder and majority shareholder of conglomerate New World Development (0017.HK or NDVLY.PK), a property development, infrastructure, transportation, retail, hotel, casino, brokerage and telecommunications companies in China and Hong Kong.

Joseph Lau ($5.8 billion): Lau is the owner of Chinese Estate Group, a holding shell for his three companies: Chinese Estates Holdings (0127.HK or CESTF.PK), Chi Cheung Investment Company (112.HK) and G-Prop Holdings (0286.HK). NOTE: Chi Cheung and G-Prop are not listed in the U.S.

Terry Gao ($5.5 billion): Gao started Hon Hai Precision Industry (2317.TW or HNHPF.PK) in 1974 with $7,500 and turned it into one of largest contract electronics manufacturers in the world.

India has fewer billionaires than China, but boy are they rich! Indian industrialists Mukesh Ambani and Lakshmi Mittal are among the world’s top five richest people. Indians Mukesh Ambani, with an estimated net worth of $29 billion, and Lakshmi Mittal, with $28.7 billion, are the fourth and fifth richest men in the world.

But maybe you’re more of an ETF and mutual fund investor and you just want to hitch a ride of the overall Chinese market instead of investing alongside Chinese billionaires. While I’m quite sure you’ll be leaving a lot of potential profits on the table, you will be investing in the most dynamic and growing economy in the world.

iShares FTSE/Xinhua China 25 Index ETF (FXI) owns the 25 largest and most liquid Chinese companies, so think of this as investing in the Dow Jones 30 Industrials of China. The top 10 holdings make up more than 60% of the fund so you will be heavily weighted with China Mobile. China Construction Bank, Industrial and Commercial Bank of China, China Life Insurance, and Bank of China.

iShares FTSE China HK Listed Index (FCHI), is similar to FXI but only owns Chinese stocks that are listed on the Hong Kong Stock Exchange. It, too, is heavily weighted with financial stocks.

Hong Kong is now home  to multiple Asian billionaires
Hong Kong is now home to multiple Asian billionaires

SPDR S&P China (GXC) is managed by State Street and is also a large cap fund with emphasis on financials as well.

PowerShares Golden Dragon Halter USX China (PGJ), isn’t as heavily weighted toward large cap financials. It owns a lot of energy (21%), technology (18%), and telecommunications (16%).

Claymore/AlphaShares China All Cap (YAO) is very different from the above ETFs because of its focus on small caps.

China is creating millionaires and billionaires faster than anyplace else in the world and I don’t expect that to change for years, perhaps decades. You, too, can participate in that phenomenal wealth creation by including a heavy dose of Chinese stocks in your portfolio.

And where do you find those great Chinese stocks? The Forbes list is a great place to start because it isn’t just an interesting piece of news; it is also an investment map of some of the very best Chinese stocks you could own.

Best wishes,

Tony

This investment news is brought to you by Uncommon Wisdom. Uncommon Wisdom is a free daily investment newsletter from Weiss Research analysts offering the latest investing news and financial insights for the stock market, precious metals, natural resources, Asian and South American markets. From time to time, the authors of Uncommon Wisdom also cover other topics they feel can contribute to making you healthy, wealthy and wise. To view archives or subscribe, visit http://www.uncommonwisdomdaily.com.


© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in