Young China Outshines India While U.S. Has The Oldest Billionaires, Says Report

SHANGHAI – At 53 years,China’s billionaires are theyoungest in the world, while theaverage age of India’s super richpeople is 63 years, a year olderthan the global average of 62,says a report.According to the Wealth-X andUBS Billionaire Census 2013,the average age of China’s 157billionaires is nine years youngerthan the global average.In terms of age, billionairesfrom the United States are theoldest as the average age of theultra-rich people there is 67years, followed by Canada andGermany (66 years).Among others, the average ageof billionaires in Hong Kong,Saudi Arabia and Brazil is 64years, while for India,Switzerland and South Africa itstands at 63 years.At 57 years, billionaires ofUnited Arab Emirates are thesecond youngest in the world.The report, a global study onthis ultra wealth tier, noted thatnearly 90 per cent of Chinesebillionaires made their own fortunes,the highest percentage ofself-made billionaires in anycountry.Only 5 per cent inheritedtheir wealth, and the remaining6 per cent inherited andgrew their wealth.