The Richest Man in China to be Replaced
Last year Forbes ranked the 400 richest Chinese. For the second year in a row, Larry Rong Zhijian, head of CITIC Pacific Group was the leader. At the time he was worth an estimated $1.6 billion.
This year…last year’s numbers four and and 98 are expected to overtake him.
Huang Guangyu, president of Gomes Appliances was worth $1.3 billion is expected to show a net worth of $2.1 billion this year …enough to pass Zhijian.
However, Shi Zhengrong will climb 98 places to take the top spot from $0.2 billion net worth last year to $2.2 billion net worth this year.
Shi Zhengrong is CEO of Suntech Power Co.
The gap between China’s very rich and very poor is growing. The Gini coefficient is an international measurement of income disparity. China’s Gini has over the danger level.
China’s richest 10% possess more than 40% of total household wealth while China’s poorest 10% have only 2% of household wealth.
I thought Communism was an ideal when everyone shared. It doesn’t seem to be working in China, does it?
What do you think?
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