The net worth of 70 richest members of China’s National People’s Congress rose to $89.8 billion last year, representing a gain of $11.5 billion from 2010, according to Bloomberg.
This is more than the $7.5 billion net worth of all 660 top officials in the three branches of the U.S. government.
The 60 people that represent the richest 2 per cent of the NPC had an average wealth of $1.44 billion per person, compared with the 11 members that represent the richest 2 per cent of Congress that had an average wealth of $323 million per person.
These numbers also throw a garish light on China’s vast wealth inequality, where per capita income in 2010 was $2,425, compared with $37,527 in the U.S.
The three richest members according to the Bloomberg report are Zong Qinghou, chairman of Hangzhou Wahaha Group, with a family fortune of 68 billion yuan. Wu Yajun, chairwoman of Beijing-based Longfor Properties Co. with family wealth of 42 billion yuan. And Lu Guanqui, an auto-parts magnate.
The data was derived from the Hurun report, and excludes the wealth details of China’s top political leaders, including President Hu Jintao and Wen Jiabao, and their families.
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