A natural experiment

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Chinese, Hong Kong, Taiwanese and Japanese billionaires by source of wealth

Surprisingly few billionaires in any of the 4 countries obtained their wealth through political connections. Founding a company seems to be still the path of great wealth even in Japan these days. Hong Kong is a financial centre so the large number of billionaires in its financial sector is no surprise.

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Source: Caroline Freund and Sarah Oliver, The Origins of the Superrich: The Billionaire Characteristics Database (2016).