Skip to main content

Report: As Chinese millionaires rise, happiness falls

By Priyanka Boghani, CNN
January 17, 2013 -- Updated 0445 GMT (1245 HKT)
China's richest feeling less happy, according to a new report.
China's richest feeling less happy, according to a new report.
STORY HIGHLIGHTS
  • New China "Millionaires Happiness Report" shows dissatisfaction with health, life
  • Hurun: "In general, the report shows that the richer you are, the less happy you are"

Hong Kong (CNN) -- It's not easy being rich. At least that's what new findings suggest from "The Millionaires Happiness Report" released by the Shanghai-based Hurun Research Institute.

"In general, the report shows that the richer you are, the less happy you are," the report authors said.

According to the inaugural report which surveyed 551 Mainland Chinese with a net worth of over 10 million yuan ($1.6 million), the average millionaire in China sleeps only 6.6 hours during the working week.

Chinese millionaires are dissatisfied with their health and are looking to prioritize spending more time with their family, the report said. The "self-made" female super-rich, who were 37 years old on average, are more likely to be unmarried with 35% of the respondents being either divorced or having remained single. The figure is almost twice that of the men surveyed.

The average age of all Chinese millionaires surveyed was 38 years old, rising to 40 among the "super-rich" -- those with net wealth of $16 million.

The lack of satisfaction for China's nouveau riche appears to be growing. Hurun Report, a magazine best known for its ranking of the wealthiest individuals in China, surveyed 1,000 super-rich Chinese in 2011 found that 55% of the respondents either in the process of leaving China or seriously considering it.

"What we are seeing is a sense of insecurity or, perhaps you want to look at it from another side, looking for a sense of insurance policy," said Rupert Hoogewerf, publisher of Hurun Report, told CNN in November. "So they are beginning to quite actively try and get a green card in the U.S., Canada, Australia and Singapore."

ADVERTISEMENT
Part of complete coverage on
November 12, 2014 -- Updated 2014 GMT (0414 HKT)
Despite China's inexorable economic rise, the U.S. is still an indispensable ally, especially in Asia. No one knows this more than the Asian giant's leaders, writes Kerry Brown.
November 12, 2014 -- Updated 2359 GMT (0759 HKT)
The new U.S. deal with China on greenhouse gases faces enormous challenges in both countries. Jonathan Mann explains.
November 13, 2014 -- Updated 0338 GMT (1138 HKT)
For the United States and China to announce a plan reducing carbon emissions by almost a third by the year 2030 is a watershed moment for climate politics on so many fronts.
November 17, 2014 -- Updated 2026 GMT (0426 HKT)
China shows off its new stealth fighter jet, but did it steal the design from an American company? Brian Todd reports.
November 11, 2014 -- Updated 0101 GMT (0901 HKT)
Airshow China in Zhuhai provides a rare glimpse of China's military and commercial aviation hardware.
November 12, 2014 -- Updated 1314 GMT (2114 HKT)
A new exchange initiative aims to bridge relations between the two countries .
November 11, 2014 -- Updated 0551 GMT (1351 HKT)
Xi and Abe's brief summit featured all the enthusiasm of two unhappy schoolboys forced to make up after a schoolyard dust-up.
November 11, 2014 -- Updated 0112 GMT (0912 HKT)
Maybe you've decided to show your partner love with a new iPhone. But how about 99 of them?
November 3, 2014 -- Updated 0219 GMT (1019 HKT)
Can China's Muslim minority fit in? One school is at the heart of an ambitious experiment to assimilate China's Uyghurs.
November 4, 2014 -- Updated 1455 GMT (2255 HKT)
Facebook founder Mark Zuckerberg is one of thousands of Americans learning Chinese.
November 4, 2014 -- Updated 0500 GMT (1300 HKT)
Taiwanese President Ma Ying-jeou says he needs to maintain good economic ties with China while trying to keep Beijing's push for reunification at bay.
October 30, 2014 -- Updated 0528 GMT (1328 HKT)
Chinese drone-maker DJI wants to make aerial photography drones mainstream despite concerns about privacy.
October 29, 2014 -- Updated 0518 GMT (1318 HKT)
A top retired general confesses to taking bribes, becoming the highest-profile figure in China's military to be caught up in war on corruption.
October 24, 2014 -- Updated 0242 GMT (1042 HKT)
China sends an unmanned spacecraft to the moon and back but is country following an outdated recipe for superpower status?
October 28, 2014 -- Updated 1619 GMT (0019 HKT)
Full marks for ingenuity: Students employ high-tech gadgets worthy of a spy movie to pass national exam.
October 21, 2014 -- Updated 0526 GMT (1326 HKT)
Confucius Institutes seek to promote Chinese language and culture but some have accused them of "cultural imperialism."
October 24, 2014 -- Updated 1511 GMT (2311 HKT)
Smooth jazz saxophonist Kenny G wants everyone to know that he's not a foreign agitator trying to defy the Chinese Communist Party.
ADVERTISEMENT