In 2018 China lost 161 billionaires as its stock markets plunged

The trade war with the United States and the internal economic stagnation between the causes of the decline. However, the losses are partially offset by the arrival of numerous new faces from the world of technological innovation.

on

Chinese billionaires. The recent problems affecting the Chinese stock market have influenced the rankings of billionaires in the country.

The number of billionaires in Greater China, which also includes Hong Kong and Taiwan, has fallen by 161 unit compared to the previous year, according to the Hurun Report, with a decrease of almost 25% in a single year.

The Hurun index measures individual wealth up to 31 January, not taking into account the strong recovery of the Chinese markets in February, driven by the prospects of new government stimuli and the possibility of reaching a resolution of the trade war.

Chinese financial markets in 2018 have been weakened by the uncertainties deriving from the trade war, and by a general slowdown of the local economy.

The number of Chinese billionaires has fallen from 819 to 658 in the year ended January 31, according to Hurun.

Although the sharp decline, the country is still home to more billionaires than the United States, which has 584, according to Hurun.

Despite the turmoil, China is the country that catapults the largest number of new billionaires in the rankings, with 52 new faces.

Ma Huateng, CEO of the technology giant Tencent has seen a reduction of its assets of 20%, to 38 billion dollars.

The loss is probably due to freezing licensing of video games in the Chinese market, only recently unlocked.

Wang Jianlin of Dalian Wanda Group suffered a loss of 37% of its assets, now at 17 billion.

Jack Ma instead recorded a growth of more than 20%, now to 39 billion, thanks to the success of Ant Financial, once Alipay.

A series of Chinese technology companies catapulted a series of new names into the super-rich chart.

Zhang Yiming, the founder of internet startup ByteDance, behind TikTok, is one of these.

Zhang Yong with his wife Shu Ping, with assets of 8.8 billion, has become the richest restaurateurs in the world, after the listing on the Hong Kong market of their chain of hot pot Haidilao.

Zeng Yuqun, 51, of CATL, which sells lithium batteries for the electric automotive industry.

Zhongfang, based in Beijing, 77, and his son Li Yongxin, 43, with 4, $ 7 billion, of the Offcn training platform, which ran a backdoor price list with an assessment of $ 8 billion last month.

Zhan Ketuan, 40, of bitcoin miner Bitmain, who has become the richest blockchain tycoon.

Among the top ten billionaires in the world, there is no Chinese.

The ‘Big Two’ are Greater China and the USA with 658 and 584 billionaires, making up half of the known billionaires on the planet.

Germany and the United Kingdom got third and fourth place.

Subscribe to China Underground and get Planet China

To be updated with all the latest news, offers and special announcements.

China-Underground
China-Undergroundhttp://china-underground.com
CinaOggi.it and China-underground.com are two websites focused on China and Chinese culture. The site includes thousands of articles on this country structured in categories: news, trends, economy, history, art, guides, literature , pictures gallery, videos and Chinese cinema.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Search

2,062FansLike
1,163FollowersFollow
278SubscribersSubscribe
HD-Monocular-Day&Night-Vision-Dual-Focus-Telescope-Prism-Scope_Day&Night Vision Telescope

HD Monocular Day&Night Vision Dual Focus Telescope Prism Scope

Waterproof, the mirror is full of the high-purity nitrogen, waterproof and antifogging.super clear, the fully coated optics, meanwhile, guarantee superior light transmission and...
Xiaomi Mi 9 Global Version

Xiaomi Mi 9 Global Version 6GB

Throughout the history of smartphones, Snapdragon™ has been there as an engine powering the world's devices. CHECK PRICES Now, the Snapdragon™ 855 presents another leap forward...

Latest

Installation view of Sun Yunfan & Dave Liang: Flashbacks in a Crystal Ball at Inna Art Space, New York (all images © Inna Art Space and courtesy Yufan Sun and Shanghai Restoration Project, all photos by Anyan Wu)_Shanghai Restoration Project

Demystify the romance trope

Featured image: Installation view of Sun Yunfan & Dave Liang: Flashbacks in a Crystal Ball at Inna Art Space, New York (all images...