THE fortunes of China's wealthiest have plunged by the most in over two decades as a property market crisis and Beijing's strict Covid curbs hammer growth, according to the Hurun Rich List, reports Nikkei Asia.
Leading the drop was businesswoman Yang Huiyan of developer Country Garden Holdings, who lost US$15.7 billion from her net worth this year, while technology group Tencent's Tony Ma saw his personal fortune cut by $14.6 billion.
President Xi Jinping's levelling Common Prosperity programe was again renewed and stressed at the recent chinese Peoples Congress in Beijing.
Forrest Li, chairman of Singapore-based e-commerce group Sea, posted the third-biggest loss with a drop of $13.7 billion, the Hurun China Rich List 2022 says.
The total wealth of 1,305 people with a minimum net worth of CNY5 billion (US$710 million) declined 18 per cent from a year ago to $3.5 trillion, according to the report. And the number of superrich with $10 billion tumbled by 29 to 56.
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Leading the drop was businesswoman Yang Huiyan of developer Country Garden Holdings, who lost US$15.7 billion from her net worth this year, while technology group Tencent's Tony Ma saw his personal fortune cut by $14.6 billion.
President Xi Jinping's levelling Common Prosperity programe was again renewed and stressed at the recent chinese Peoples Congress in Beijing.
Forrest Li, chairman of Singapore-based e-commerce group Sea, posted the third-biggest loss with a drop of $13.7 billion, the Hurun China Rich List 2022 says.
The total wealth of 1,305 people with a minimum net worth of CNY5 billion (US$710 million) declined 18 per cent from a year ago to $3.5 trillion, according to the report. And the number of superrich with $10 billion tumbled by 29 to 56.
SeaNews Turkey
