Most China's young billionaires work to build fortunes

May 16, 2011 - PRLog -- Nearly 80 percent of the young and wealthy in China built up their careers from nearly nothing, the latest Hurun Report showed.



On Saturday in Shanghai, the Hurun Report released its first list of young and wealthy Chinese, which contained information about 56 people who are under the age of 40 and have at least 1 billion yuan ($154 million).

According to the 2010 Hurun Wealth Report, 1,900 billionaires now live in China.

Of the young billionaires, 44 started businesses from scratch, while only 12 inherited fortunes or estates.

Rupert Hoogewerf, chairman and chief researcher of the Hurun Report, suggested that China's young generation of rich people is better educated, more promising and more cosmopolitan.

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