The bottom 50% of wealth holders saw their total wealth double from $976 billion during the recession to $2 trillion in 2019. In that same year, within China and the world, Beijing was the city with the most billionaires. China is rising rapidly up the ranks, with the number of individuals in the $50 million club rising from 9,555 to 18,132 between 2017 and 2019, as Global Wealth Report data shows. Assets under management at IGW have ticked up each year since 2017, with profits up 61% year on year in 2019, to Rmb417.2 million. China is the second-largest economy considering nominal GDP, at $14.14 trillion, and the largest using GDP (PPP), which is $27.31 trillion. With global wealth growing to 280 trillion dollars, the poorest base tier of the wealth pyramid shrank slightly. 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