The total number of billionaires has reached 3,279, up by 167 from the previous year.
Over half of all new wealth was driven by artificial intelligence.
The total wealth in the Hurun Global Rich List increased by 9 per cent, reaching US$15 trillion.
278 individuals lost their billionaire status, with 208 of them being from China.
480 new billionaires joined the list, including 109 from the USA, 84 from India, and 55 from China.
Mumbai overtook Beijing to become Asia's billionaire capital, and New York regained its status as the Billionaire Capital of the World.