China has two-thirds of the world’s self-made women billionaires, a Hurun report showed, adding that the top five cities with the richest women on the planet are all from the Asian country.
Chinese capital Beijing is the self-made woman billionaire capital of the world with 14. Shenzhen comes second with 11, Hangzhou is in the third place with nine, followed by Shanghai and Hong Kong.
China has a total of 78 self-made women billionaires. The United States (25) and UK (5) follow China while India has tripled the number of self-made women billionaires over the last decade.
Guangdong in South China is the cradle of the world when it comes to self-made women billionaires, the report added.
Interestingly, New York, the city with the most billionaires outside of China, has only a single self-made woman billionaire.
Rupert Hoogewerf, chairman and chief researcher of Hurun Report explains why the numbers are so high in China as compared to other countries.
“The self-made women billionaires in the world tell the story of the most successful women in business and these stories start with China. Why does China have two thirds of the world's self-made women billionaires, more than double the rest of the world combined? There are historical, political, social and economic dynamics at play here,” he explained.
Japan, Germany, France, Canada and South Korea are the world’s largest economies without a single self-made woman billionaire. The 124 known self-made women billionaires come from just 16 countries, meaning that 180 countries still do not have a single one.
The Hurun Research Institute released the richest self-made women in the world on Wednesday. Topping that list from China is Beijing-based property developer Wu Yajun. The 58-year-old has an estimated worth of $17 billion. Yajun and her ex-husband Cai Kui cofounded Longfor in 1993 cofounder.