Richie Rich, eat your heart out. China now has hundreds of thousands of millionaires, which means hundreds of thousands of burgeoning young scions.
How do they spend their money? Their time? What are their values? A recent survey, the first of its kind, queried 600 of China’s “second-generation rich” (富二代). The Chinese site eg365.com.cn then transformed the results into a detailed infographic, which Tea Leaf Nation translates below.
Among some of the survey’s most interesting findings:
- 37.7% of second-generation rich do not want to take over the family business.
- The second-generation rich list “friends” and “spiritual wealth” as much more important than the plentiful cash in their accounts.
- 74.7% of second-generation rich feel they “must buy” luxury goods to convey their status and identity.
- 44% of second-generation rich view adultery as a “normal social phenomenon.”