Top 10 Billionaires in Hong Kong Worth 35% of City’s GDP
The top 10 billionaires in Hong Kong have a combined net worth equal to 35% of the city’s economy, compared with ratios of 5.2 percent in India and 1.4 percent in China, according to calculations based on the Bloomberg Billionaires Index and International Monetary Fund estimates of gross domestic product.
“The top 10 billionaires in Hong Kong have a combined net worth equal to 35% of the city’s economy.”
The highest proportions in Europe are Sweden at 25 percent, Switzerland at 9.2 percent and Russia at 8.8 percent.
Related Reports: Bloomberg
About International Monetary Fund
The IMF, also known as the Fund, was conceived at a UN conference in Bretton Woods, New Hampshire, United States, in July 1944. The 44 countries at that conference sought to build a framework for economic cooperation to avoid a repetition of the competitive devaluations that had contributed to the Great Depression of the 1930s.
The IMF’s responsibilities: The IMF’s primary purpose is to ensure the stability of the international monetary system—the system of exchange rates and international payments that enables countries (and their citizens) to transact with each other. The Fund’s mandate was updated in 2012 to include all macroeconomic and financial sector issues that bear on global stability.
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