Four families own most of China
This is a very in-depth report with a fancy animation and everything.
The short version is: party insiders in China who were well-positioned after the revolution have spent decades using their government control to get massively, stupidly rich. It's possibly the most flagrant corruption in human history.
Revolution to Riches News - Bloomberg
Bloomberg News series "Revolution to Riches" lifts the veil of secrecy on China's princelings, an elite class that has been able to amass wealth and influence because of their bloodline. Mapping the family trees of China's "Eight Immortals," founding fathers of Communist China who later led the country's economic opening, Bloomberg tracked 103 descendants and spouses -- from the powerful leaders of state-owned conglomerates to their jet-setting, Prada-accessorized grandchildren. The extended family of another princeling, China's new leader Xi Jinping, amassed a fortune in assets and real state, reporting by Bloomberg shows. The identities and business dealings of this red nobility are often hidden behind state censorship and complex corporate webs. To document them, Bloomberg scoured thousands of pages of corporate filings, property records, official websites and archives, and conducted dozens of interviews from China to the United States.