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Trey Ratcliff
The newspaper lists ten Chinese individuals who have each lost at least $10 billion over that time, for a combined total of $152 billion in losses. Leading the way here is the founder of e-commerce platform Pinduoduo, Colin Huang. His fortune is down $40.2 billion. Alibaba founder Jack Ma came in second place, losing $21.4 billion. In third place was the head of long-suffering Evergrande, which is in danger of default on its debts, Hui Ka Yan - he lost around 18 billion dollars.
The publication notes that, overall, since the beginning of the year billionaires on the Forbes list have become richer by $ 1.6 trillion, with the Chinese becoming richer by 4% compared to last year, although a year earlier the increase in their wealth was estimated at 60%.
"Increasing regulation by Chinese authorities in industries ranging from e-commerce to extracurricular activities has caused a sharp sell-off that has devalued Chinese companies by hundreds of billions of dollars," the publication explains.
source: forbes.com
The publication notes that, overall, since the beginning of the year billionaires on the Forbes list have become richer by $ 1.6 trillion, with the Chinese becoming richer by 4% compared to last year, although a year earlier the increase in their wealth was estimated at 60%.
"Increasing regulation by Chinese authorities in industries ranging from e-commerce to extracurricular activities has caused a sharp sell-off that has devalued Chinese companies by hundreds of billions of dollars," the publication explains.
source: forbes.com
