China is churning out a new billionaire every 5 days

The US might be the wealthiest country in the world, but it's not churning out the most billionaires. That title goes to China, which added 67 new billionaires in 2016, or one about every five days, according to a report on billionaires by UBS and PwC released Thursday. For the first time ever, Asia had more billionaires (637) than the US (538), the report found. Still, the US maintained a higher concentration of billionaire wealth, but Asia top that measure in the next three to four years.