According to the Bloomberg Billionaires Index,

Chinese billionaire Huang loses 27 billion dollars this year

The founder of the Chinese e-commerce platform Bindudu, Colin Huang, lost more wealth this year than anyone else in the world, according to Bloomberg News.


Huang's fortune fell by more than 27 billion dollars, according to the "Bloomberg Billionaires Index", after his company's shares fell, as China took strict measures against its Internet giants.


This is the biggest decline among the 500 members of the index, and even greater than the $16 billion lost by the head of China Ever Grand Group, Hui Ka Yan, whose real estate empire is struggling with a huge set of debts.

This is the clearest example of deteriorating conditions for billionaires in China, where President Xi Jinping is calling for "shared prosperity" and reining in the country's private sector companies.


Follow our latest local and sports news and the latest political and economic developments via Google news

Keywords: