Source: Journeyman Pictures
In China, it's estimated that there are close to a million millionaires and six hundred billionaires. Those numbers are going up, too: half the world's billionaires will come from China within the decade.
But how do they live? How do they spend their money?
A documentary put out last year by ABC Australia called "The Ka-Ching Dynasty" offers an intriguing look into the decadent and enterprising world of China's wealthiest people.
Whether it's young twenty-somethings snatching up sports cars or real estate moguls building hotels in a matter of weeks, they know how to spend it.
Ferraris. Maseratis. Lamborghinis. Outside the Beijing Sports Car Club, $600,000 vehicles casually pull up.
To be a member of the club, you must own a Porsche 911, or another car with a higher flash status.
The Chinese "are making money," according to the video. "And they're flaunting it."
Inside the club, twenty-somethings mingle in a palace-themed party.
In China, these young gadabouts "are seen as the first generation who have known nothing but wealth their entire short lives."
Their parents are relatively young, too, however. The typical Chinese billionaire is a 51-year-old man who lives in Beijing, while your average millionaire is 41, and lives in Shanghai, according to the HuRun Report.
The best way for Chinese upstarts to make money is in real estate.
This tower-like hotel, which appears to have sprouted out of nothing in China's Hunan Province, was built in 14 days with pre-made steel frames.
The hotel was built by Zhang Yue, a millionaire manufacturing tycoon. On his company's property sits a replica of a French chateau, designed by his wife.
There's also a giant gold pyramid.
China's buildings "are just getting bigger and bigger."
At one particularly upscale Beijing Bar, there are drinks that cost the same as a week's salary for a factory worker.
"International designers are flown in to create pleasure palaces like nowhere on earth."
Sales of private jets jumped five-fold from 2008 to 2011, according to Jean-Michel Jacob, senior vice president of Dassault. They typically sell for around $53 million.
One manufacturer, whose personal wealth equals a few million yuan, said that he had only "just stepped into the lower end of the middle class."
These women riding the odd toys that the manufacturer makes. He started out as a cab driver.
Luxury European brands have been profiting from China's consumption. "If I have a bit of spare money, I will buy some [sports cars]," said the founder of the Beijing Sports Car Club.
![Luxury European brands have been profiting from China's consumption. "If I have a bit of spare money, I will buy some [sports cars]," said the founder of the Beijing Sports Car Club.](https://lh3.googleusercontent.com/blogger_img_proxy/AEn0k_tHuH4CtcRKlZIvQd_shE2A5GosmpwmWMgOMnzftCAS_gIfwCjnVKJ-jdCpKeyns8DxoMY1Gu0gCzAHF82iEE8y37TaQ5-aVWoJ-mujCi-SXvRNBZ_bF-loIMEbJ4TzOjGEwWvLSMa0Bw2RXWmTvVb6p1CIDjWyjJ4cjwGYtYHpQ_qR1E2VTw7XgGuwuHbED0YCYdX_rD3jQqZ1Y7EYjTKf2HBrZa9Ug-Ae-cZWtIs5KEn5Jthk2bt0g_hgTmFktrsMNsDDFyHipeF4caswwghEMhKaQP1WBDjpfZf_AHXDWMK0LvN6BbWvKZbukunSlFnfa_9hgiPrKdontTqxBfdUNE2j63LaSnZoSPEE482W28uekDSzcribtPcO=s0-d)
Watch the entire documentary here:
Source: Journeyman Pictures
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