The Wild Lives Of China's Young New Millionaires

attached imageThis man knows how to flaunt his money.

Photo: Screenshot via YouTube

In China, it’s estimated that there are close to a million millionaires and six hundred billionaires. Those numbers are going up, too: half the world’s billionaires will come from China within the decade.But how do they live? How do they spend their money? 

A documentary put out last year by ABC Australia called “The Ka-Ching Dynasty” offers an intriguing look into the decadent and enterprising world of China’s wealthiest people.

Whether it’s young 20-somethings snatching up sports cars or real estate moguls building hotels in a matter of weeks, they know how to spend it.

Ferraris. Maseratis. Lamborghinis. Outside the Beijing Sports Car Club, $600,000 vehicles casually pull up.

To be a member of the club, you must own a Porsche 911, or another car with a higher flash status.

Inside the club, 20-somethings mingle in a palace-themed party.

Their parents are relatively young, too, however. The typical Chinese billionaire is a 51-year-old man who lives in Beijing, while your average millionaire is 41, and lives in Shanghai, according to the HuRun Report.

The best way for Chinese upstarts to make money is in real estate.

This tower-like hotel, which appears to have sprouted out of nothing in China's Hunan Province, was built in 14 days with pre-made steel frames.

The hotel was built by Zhang Yue, a millionaire manufacturing tycoon. On his company's property sits a replica of a French chateau, designed by his wife.

There's also a giant gold pyramid.

At one particularly upscale Beijing Bar, there are drinks that cost the same as a week's salary for a factory worker.

Sales of private jets jumped five-fold from 2008 to 2011, according to Jean-Michel Jacob, senior vice president of Dassault. They typically sell for around $53 million.

These women riding the odd toys that the manufacturer makes. He started out as a cab driver.

Watch the entire documentary here:

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