Jakarta, CNN Indonesia —
Alibaba founder who became one of the richest man in this world, Jack Ma, the original e-commerce company China, had to be willing to lose his property up to US $ 21.4 billion in the last year. The e-commerce giant, which he built since 1999, must comply with the rules of the Chinese government, which is very strict against market monopoly.
The Chinese government’s strict regulations are the reason Jack Ma’s wealth must be drained by more than half. Whereas, previously, he had a fortune of US $ 37 billion from share ownership in Alibaba.
Antitrust policies also have a significant impact on the wealth of a number of big business names, such as Pinduoduo founder Colin Zheng Huang, to the founder of smartphone technology company Xiaomi Lei Jun.
Colin’s wealth fell to US$40.2 billion, while Lei Jun had to lose up to 90 percent of his total US$16.3 billion.
Not only Chinese businessmen were harmed by the Chinese government’s harsh policies, the wealth of Softbank CEO Masayoshi Son, an investment company from Japan, was also shaken.
Masayoshi Son had to be willing to lose US13.6 billion of his total wealth of US$25.1 billion. This is because the investment giant has invested a lot of capital into companies like Alibaba. As a result, Softbank’s value fell by $7.3 billion and Son’s wealth was also dragged out by 35 percent.
Another story with the founder of Uniqlo and Theory Tadashi Yanai and the founder of Haidilao Zhang Yong. Both are harmed by the endless pandemic. Tadashi Yanai had to lose US$30 billion as the shares of his two companies fell 34 percent due to the pandemic.
While Zhang. previously opened 1,600 new hotpot restaurants in China. But unfortunately, the pandemic left all restaurants empty of customers and he had to close 300 restaurants. As a result, Haidilao’s shares fell 71 percent and Zhang’s wealth also fell to US $ 15.9 billion.
Evergrande founder Hui Ka Yan also lost up to US$18 billion in the financial crisis that hit his property company. The swelling debt was allegedly the reason Hui lost most of his wealth.
It didn’t stop there, Hui also had to spend US$1 billion out of his personal pocket to keep his business running. Hui also had to pay $300 billion to speed up the company’s debt restructuring.
(fry/one)
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