Crisis? What crisis? Rich get even richer

The ranks of China's super rich ballooned during the past year, despite the financial crisis, with the number of US dollar billionaires jumping from 101 to 130.

The rise in fortunes means China is now home to the world's second-largest population of billionaires - following the US, which has 359.

The newly released 2009 Hurun Rich List, a ranking of the 1,000 richest individuals in China, shows that the average wealth of those listed rocketed by 30 percent, to $571 million, during the past 12 months.

"The key driver has been urbanization because about 23 percent of the people on the list made their fortune in property," said Rupert Hoogewerf, the list's compiler.

This year's top 10 includes seven new faces, the largest number of new entries since the Hurun Report started the rankings in 1999. The seven made their fortunes mainly in mining and real estate.

The report identified the influence of US businessman Warren Buffett, whose investment caused a five-fold increase in the share price of Chinese electric car and battery maker BYD Co, helping chairman Wang Chuanfu rise up the list.

With assets of $5.1 billion, Wang jumped 102 places from last year to the number one spot.

The person who topped the list last year, Huang Guangyu, the former chairman of Gome Electrical Appliances Holdings, slipped to 17th. He is currently under investigation for alleged financial irregularities.

In addition to Wang, Buffett's touch had an immediate impact on Li Guilian, ranked 656. Buffett announced at his annual conference that he only wears suits made by Li's Dayang Trands Co Ltd.