The richest 70 members of China’s legislature added more to their wealth last year than the combined net worth of all 535 members of the U.S. Congress, the president and his Cabinet, and the nine Supreme Court justices.
Zong Qinghou , China’s richest person with a fortune estimated to be at least $8 billion, says his personal spending averages $20 a day. The soda and juice magnate doesn’t gamble, drink or play golf and eats his meals at the company canteen.
Yu Jiang looks into the front window at his two-bedroom apartment in the center of Kangbashi, in China’s Inner Mongolia, and says he may buy another. The place has been empty for three years, as are as many as 90 percent of the units near it.
Royal Asscher Diamond Co. , which cut stones set in Britain’s Crown Jewels, will open stores in China, competing with the Tiffany and Cartier brands as jewelry demand and production grow in the world’s most-populous nation.