Russia 2012: Now has the most billionaires among all the European nations
China 2012: has the most billionaires in the Asia Pacific region
But....
Russia and China in 20th century
controlled by communism
population starving and dying quickly
almost no means of income being produced
money being wasted on communist projects
Facts about Russia's and China's wealth
-both produced their first billion dollar fortunes just 15 years ago
-youngest among the list of rich (some 15 years younger than their U.S. and U.K. counterparts)
-have the highest percentage of self-made fortunes (Russia 100% China 83%)
-could not inherit anything because of the influence of communism before that point
-have the lowest rates of family involvement in management of their fortunes
-China has a high number of self-made women billionaires
-the rich of both countries rarely own or help philanthropic foundations
Are we moving to a world where, in order to be rich, we must work harder younger, give up a family, and become cold towards our fellow human beings?
source: http://www.forbes.com/sites/kasiamoreno/2012/03/30/why-chinas-rich-and-russias-rich-share-many-traits-2/ Why China's Rich and Russia's Rich Share Many Traits
Authority: Kasia Monroe and she is an editorial director of Forbes Magazine so therefore has credibility when understanding the economies of these two countries
Accuracy: Yes sources were cited but she mostly took her facts from the Forbes magazine itself, which is a very trusted source on understanding the economy and the rich
Timeliness: Published 03/30/12 so very recent.
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