SHENZHEN is home to 25 billionaires, each with a net asset of more than US$1 billion, ranking the city the fourteenth in the world as home to the most billionaires based on a report released by Wealth-X and the United Bank of Switzerland in Singapore on Wednesday.

    Wealth-X is the world’s leading ultra-high net worth intelligence and prospecting firm.

    Shenzhen has the third most billionaires in China, following Beijing and Hong Kong. Hong Kong is home to 82 billionaires, ranking third in the world.

    Beijing ranks fifth with 37 billionaires, and Shanghai stands in at 17th place with 17 billionaires.

    There are 2,323 billionaires each with a net asset of more than US$1 billion in the world, 7 percent more than last year, according to the report.

    Asia is home to the youngest billionaires in the world with an average age of 61, two years younger than the world average.

    The world’s billionaires mainly hail from finance, banking and investment fields. In China, industries like e-commerce have given rise to new billionaires.

    In addition, almost 30 percent of the billionaires in the world do not have a bachelor’s degree, and 88 percent of them are male billionaires who are married.(Martin Li)