One in every 175 people living in Shanghai has personal wealth of more than 10 million yuan (US$1.5 million), the Hurun Research Institute said recently.
Property tycoon Eddie Ye, chairman of Super Ocean Group, is the richest Shanghai native with 15 billion yuan (over 2 billion US dollars), the report said.
A total of 132,000 individuals in the city have more than 10 million yuan in personal assets, 8.2 percent higher from last year, mostly due to the rapid development of Shanghai’s economy and property market.
There are 80 individuals with personal wealth of at least US$1 billion as of May/2011, the report said.
via Property prices boost number of Shanghai’s rich – People’s Daily Online.
