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Hurun: The Nouveau Riche of China

According to the Hurun Report that Rupert Hoogewerf publishes and that created the Hurun Rich List, there are about 17,000 Chinese whose net worth exceeds 500 million yuan (US$80 million). Together, their net worth totals 31 trillion yuan (US$4.96 trillion), which is about half of the Chinese GDP. Hurun made these remarks at the release of a Hurun 2014-2015 report on the needs of the high net worth population. 

The report said that the high net worth population consists of business owners in manufacturing, real estate, telecommunications,media,and technology. Close to 70 percent of these business owners face the issue of a smooth transition of the business to the next generation within the family. Hurun commented that, unlike the older rich people, who focused on amassing wealth, the new wealthy are more interested in art investment, education, and physical and mental health. 
Source: Xinhua, April 3, 2015