The number of billionaires in the world has increased by 346, reaching a record total of 2,816 with wealth of $11.2 trillion, surging 66 percent from five years ago according to ranking agency Hurun's latest global rich list, APA-Economics reports.
China has 799 billionaires, 173 more than the US, and the two countries have over half of the billionaires on the planet.
Amazon founder Jeff Bezos takes the crown among these billionaires with wealth of $140 billion, followed by Bernard Arnault and Bill Gates with wealth at $107 and $106 billion respectively.
The total wealth of the top 10 billionaires was nearly $1 trillion.
Alibaba's founder Jack Ma took the top spot among Chinese billionaires with $45 billion, ranking 21st on the global list.
Hurun said the TMT industry, or technology, media and communications, is the main source of wealth for the world's billionaires, generating 18 percent of total wealth.
This year's list has 90 billionaires aged 40 or under, up 5 from last year, 54 self-made billionaires and 36 inherited billionaires.
1. Jeff Bezos, president and CEO of Amazon and owner of The Washington Post - $140 billion
2. Bernard Arnault, LVMH luxury group Chief Executive - $107 billion
3. Bill Gates, Microsoft founder - $106 billion
4. Warren Buffett, Berkshire Hathaway chairman - $102 billion
5. Mark Zuckerberg, Facebook chairman and CEO - $84 billion
6. Armancio Ortega, chairman and founder of Inditex Group and owner of fashion brand Zara - $81 billion
7. Carlos Slim Helu and family, chairman emeritus of America Movil SAB and Carso Global Telecom SAB - $72 billion
8. Sergey Brin, Google co-founder and founder of Bayshore Global Management - $68 billion
9. Larry Page, CEO and co-founder of Alphabet - $67 billion
10. Mukesh Ambani, chairman of Reliance Industries - $67 billion
11. Steve Ballmer, LA Clippers owner - $67 billion