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.
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.
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.
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.
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