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Average Net Worth of Billionaires by Country: 2013 Hurun Rich List

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Average Net Worth of Billionaires by Country: 2013 Hurun Rich List Average Net Worth of Billionaires by Country: 2013 Hurun Rich List B. C. Forbes, the founder of Forbes magazine, published the most authoritative and first ever list of 30 wealthiest Americans on March 2, 1918. John D Rockefeller, America’s first billionaire, heads this first ever list, with a fortune of $1.2 billion. Then, in 1982 Forbes started publishing the list of 400 wealthiest Americans which changed the way Americans look at the very rich. The first 400 list in 1982 had only 13 billionaires and a net worth $75 million was enough to secure a spot, Ref. [4]. By 2006, all 400 spots were occupied by billionaires. Following the financial crisis of 2008, when many billionaires saw their fortunes plunge, the minimum net worth to enter the list had fallen below $1 billion (to $950 million) but was back up to $1 billion by 2010; see Ref. [4]. In 2011, the price for entry was $1.05 billion, Ref. [5]. Table 1: Comparison of the Forbes and Hurun Rich lists Forbes 2013 Hurun 2013 Billionaires Rich List Worldwide billionaires, N 1426 1453 Number of countries 64 56 Combined worldwide wealth, UN $5.425 trillion $5.491 trillion US billionaires, N 442 409 US combined net worth, UN $1.872 trillion $1.712 trillion Chinese billionaires, N 122 317 Chinese combined net worth $262.91 billion $810.1 billion About $550 billion added to Chinese wealth and $160 billion taken away from US wealth, implying a significant difference in the wealth distribution among billionaires from the other countries (56 versus 64) in these two lists. In 1999, Rupert Hoogewerf established the Shanghai based Hurun Report which started providing the China Rich List. It has since become a prestigious and highly sought after list. “People often aren’t considered truly rich until Page | 1 anointed by Hurun Report…” said The Wall Street Journal US Edition Jan 2008 , see Ref. [13]. According to the 2013 Hurun Rich List, there are 1453 billionaires worldwide, with a combined net worth of $5.491 trillion. The US again heads the Hurun list with 409 billionaires, with China being a close second with 317 billionaires. The Forbes 2013 Billionaires list, on the other hand, lists 442 US billionaires (33 more than Hurun) and 122 Chinese billionaires (a very significant discrepancy of 195 billionaires). The total worldwide count was 1426, only 27 less than the Hurun count. The combined net worth as reported by Forbes was $5.4 trillion which is close to the Hurun estimate. The net worth of the US billionaires was $1.87 trillion according to Forbes and $1.712 trillion according to Hurun. These results indicate that there is a very significant difference in the pattern of distribution of the nearly the same total wealth among different countries, other than the US. Hence, the main purpose here is to provide a comparison between the wealth distribution pattern between the Forbes and the Hurun billionaires in different countries. Table 2 is a compilation of the combined net worth for each country that I was able to prepare since a Microsoft Excel file, with the full list and all pertinent details is available for review and analysis. The same is presented, after sorting alphabetically, in Table 3. These results can be compared with a similar tabulation prepared recently for the Forbes 2013 billionaire list, see Durgy in Ref. [15] and the more detailed list I have prepared for the average billionaire worth by country in Refs. [16- 18], and reproduced here as Table 4. A more detailed analysis of the data compiled here, using x-y diagrams (Combined net worth versus number of billiionaires) is being presented separately. Page | 2 Table 2: Average Net Worth of Billionaires by Country Data from the Hurun 2013 Rich List, Sorted by U Rank by Billionaires Combined Average net U = y/x Country N = x net worth worth U = Avg. NW UN = y UN/N = y/x See similar list in Ref. [18] with the2013 Forbes Billionaires Data 1 Mexico 7 118.5 16.93 2 Colombia 1 14.0 14.00 3 Chile 5 42.1 8.42 4 France 31 251.4 8.11 5 Monaco 4 31.2 7.80 6 Sweden 7 54.0 7.71 7 Saudi Arabia 9 64.3 7.14 8 Georgia 1 6.4 6.40 9 Spain 14 88.3 6.31 10 N Zealand 1 6.0 6.00 11 Thailand 5 28.4 5.68 12 Nigeria 4 22.4 5.60 13 Germany 61 311.5 5.11 14 Czech Rep 2 10.0 5.00 15 Switzerland 41 190.0 4.63 16 Italy 14 60.9 4.35 17 Russia 88 368.6 4.19 18 USA 409 1,712.3 4.19 19 Brazil 33 133.8 4.05 20 Austria 17 67.7 3.98 21 Philippines 6 23.5 3.92 22 Malaysia 9 35.1 3.90 23 Denmark 3 11.7 3.90 24 Australia 16 62.0 3.88 25 S. Africa 4 15.4 3.85 26 Venezuela 2 7.6 3.80 27 Canada 22 77.8 3.54 28 India 53 181.2 3.42 29 UK 55 187.2 3.40 30 Japan 22 73.9 3.36 Page | 3 Rank by Billionaires Combined Average net U = y/x Country N = x net worth worth U = Avg. NW UN = y UN/N = y/x 31 Belgium 2 6.7 3.35 32 Liechtenstein 1 3.3 3.30 33 Israel 10 30.0 3.00 34 Romania 1 2.8 2.80 35 Ireland 5 13.9 2.78 36 UAE 8 21.7 2.71 37 Greece 1 2.7 2.70 38 Indonesia 11 28.8 2.62 39 Singapore 11 28.7 2.61 40 Lebanon 3 7.7 2.57 41 China 317 810.1 2.56 42 Norway 4 10.1 2.53 43 Netherlands 11 27.1 2.46 44 Poland 5 11.9 2.38 45 Portugal 4 9.3 2.33 46 Taipei 32 74.1 2.32 47 Argentina 6 13.5 2.25 48 Ukraine 7 13.2 1.89 49 Turkey 31 56.1 1.81 50 Morocoo 3 5.4 1.80 51 S. Korea 17 30.6 1.80 52 Peru 2 3.4 1.70 53 Kazakhstan 5 8.2 1.64 54 Egypt 6 9.4 1.57 55 Kuwait 3 4.3 1.43 56 Cyprus 1 1.0 1.00 Total 1453 5491.2 Nigeria with 4 billionaires is ranked 12 by the average worth. In the Forbes list, Nigeria has only two billionaires and leads the list; see Table 4. Mexico with seven billionaires leads the list here. In the Forbes list, Mexico has 15 billionaires and is ranked No. 2 after Nigeria; see Table 4. The rank numbers in the first column are obtained after sorting the data by descending values of U, see also Table 4 for the Forbes billionaires. Page | 4 Table 3: Average Net Worth of Billionaires by Country Data from the Hurun 2013 Rich List (Alphabetical) Rank by Billionaires Combined Average net U = y/x Country N = x net worth worth U = Avg. NW UN = y UN/N = y/x 47 Argentina 6 13.5 2.250 24 Australia 16 62.0 3.875 20 Austria 17 67.7 3.982 31 Belgium 2 6.7 3.350 19 Brazil 33 133.8 4.055 27 Canada 22 77.8 3.536 3 Chile 5 42.1 8.420 41 China 317 810.1 2.556 46 Taipei (Taiwan) 32 74.1 2.316 2 Colombia 1 14.0 14.000 56 Cyprus 1 1.0 1.000 14 Czech Rep 2 10.0 5.000 23 Denmark 3 11.7 3.900 54 Egypt 6 9.4 1.567 4 France 31 251.4 8.110 8 Georgia 1 6.4 6.400 13 Germany 61 311.5 5.107 37 Greece 1 2.7 2.700 28 India 53 181.2 3.419 38 Indonesia 11 28.8 2.618 35 Ireland 5 13.9 2.780 33 Israel 10 30.0 3.000 16 Italy 14 60.9 4.350 30 Japan 22 73.9 3.359 53 Kazakhstan 5 8.2 1.640 55 Kuwait 3 4.3 1.433 40 Lebanon 3 7.7 2.567 32 Liechtenstein 1 3.3 3.300 22 Malaysia 9 35.1 3.900 1 Mexico 7 118.5 16.929 5 Monaco 4 31.2 7.800 50 Morocoo 3 5.4 1.800 Page | 5 Rank by Billionaires Combined Average net U = y/x Country N = x net worth worth U = Avg. NW UN = y UN/N = y/x 43 Netherlands 11 27.1 2.464 10 N Zealand 1 6.0 6.000 12 Nigeria 4 22.4 5.600 42 Norway 4 10.1 2.525 52 Peru 2 3.4 1.700 21 Philippines 6 23.5 3.917 44 Poland 5 11.9 2.380 Portugal 4 9.3 2.325 34 Romania 1 2.8 2.800 17 Russia 88 368.6 4.189 7 Saudi Arabia 9 64.3 7.144 39 Singapore 11 28.7 2.609 25 S. Africa 4 15.4 3.850 51 S. Korea 17 30.6 1.800 9 Spain 14 88.3 6.307 6 Sweden 7 54.0 7.714 15 Switzerland 41 190.0 4.634 11 Thailand 5 28.4 5.680 49 Turkey 31 56.1 1.810 36 UAE 8 21.7 2.713 29 UK 55 187.2 3.404 48 Ukraine 7 13.2 1.886 18 USA 409 1,712.3 4.187 26 Venezuela 2 7.6 3.800 The data is sorted alphabetically.
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