Rupert Hoogewerf, the mastermind of the Hurun Rich List, tells Stephen McDonell of ABC News:
There’s two things that stand the Chinese super-businessman out from this Western counterparts. The first that he’s self-made. So in Europe, take America, about a third or a quarter of them inherited their money. Here’s there zero inherited money because 30 years ago there was no money, no money in the market at all.
And the second thing is that these people are sending their children to study overseas. This is a phenomenon that’s unbelievable. We estimate that 85 per cent of the millionaire class in China are now thinking of sending their children to study in, it’s America, UK, Australia, Canada are the big four.
h/t China Herald