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The Chinese entrepreneur, founder of online giant Alibaba, Jack Ma, is the second longest-serving billionaire of the year. PHOTO: Reuters
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2021 was quite a dramatic year for the richest people in the world. A total of 2,660 billionaires around the world have added a total of $ 1.6 trillion to their fortunes between January and December, according to Forbes magazine, quoted by profit.bg. And yet – there are billionaires who report serious losses, as the total fortune of the top 10 losers has shrunk by more than 152 billion dollars.
The biggest losses are suffered by the rich in China, as six people in the Top 10 are people from the most populous country in the world. Measures taken by the Chinese giants have wiped out hundreds of billions of dollars in market estimates.
10. Jong Huyuan
Loss for 2021: $ 10.4 billion
Balance: $ 10 billion
Zhong Huiyuan is the founder of the Chinese pharmaceutical company Hansoh Pharmaceutical. In 2019, she became one of the richest women in the world after her company launched an initial public offering (IPO). Following the listing, the company’s shares added more than 130% to their value.
9. Zhang Baksun
Loss for 2021: $ 11.3 billion
Balance: $ 1.2 billion
At the moment, it is not very good to have an online training company in China. The government has recently issued a number of measures to ban private lessons, which has affected the shares of companies in the sector. In the case of TAL Education, this reduction is 90%. That’s why its co-founder and CEO had only $ 1.2 billion at his disposal, up from $ 12.5 billion 12 months earlier.
8. Daniel Gilbert
Loss for 2021: $ 13.2 billion
Balance: $ 29.6 billion
The Gilbert Rocket Companies report a serious decline in its business this year. This comes just 12 months after it announced a record year in which loan refinancing reached record levels. Shares of Rocket Companies fell 62% this year, leading to losses of more than $ 13 billion for Gilbert.
7. Masayoshi Dream
Loss for 2021: $ 13.6 billion
Balance: $ 25.1 billion
Uncertainty for investors in China has also affected Masayoshi Son, who is the founder and CEO of the Japanese investment company Softbank. The main “reasons” for the losses are the investments in Alibaba and the shared travel company Didi. The 35% drop in Son’s condition cost him the top spot among the richest Japanese.
6. Lei Jun
Loss for 2021: $ 14 billion
Balance: $ 16.3 billion
June is the founder and CEO of Xiaomi, which today is one of the most popular smartphone manufacturers in the world. Lack of chips and delayed deliveries are the main reason for the company’s problems in 2021. These problems are expected to remain next year.
5. Tadashi Yanai
Loss for 2021: $ 14 billion
Balance: $ 30.4 billion
Janai has lost about a third of his fortune this year after the shares of his fashion empire, Fast Retailing, fell sharply. The company, which owns the Uniqlo and Theory brands, continues to be severely affected by restrictions on COVID-19, which even forced one of its factories to close briefly.
4. Zhang Yong
Loss for 2021: $ 15.9 billion
Balance: $ 7.6 billion
Yong is the founder of the famous Haidilao restaurant chain, which owns restaurants both in China and in many countries around the world. In the years before the pandemic, the company significantly increased its restaurants to 1,600. It was recently announced that by the end of 2021 it is planned to temporarily or permanently close 300 locations. The company’s shares have lost 71% of their value this year, with restrictions on restaurants and fewer customers being the main reason.
3. Hui Ka Yen
Loss for 2021: $ 18 billion
Balance: $ 9 billion
Hui Ka Yen is the chairman of China Evergrande Group. He is among the world’s biggest billionaires for the second year in a row. It came to the point that he had to reduce his stake in the company, sell personal assets and invest personal funds in order to pay for the repayment of debts of one of the largest construction companies in the world.
2. Jack Ma
Loss for 2021: $ 21.4 billion
Balance: $ 37 billion
Until recently, Ma was the richest man in China. However, the country’s regulators imposed a record $ 2.8 billion fine on Alibaba and halted the initial public offering of another of its $ 35 billion, Alipay. Alibaba’s market value fell 46 percent in 2021, and Ma’s wealth fell 37 percent.
1. Colin Huang
Loss for 2021: $ 40.2 billion
Balance: $ 22.4 billion
The billionaire has lost 64% of his fortune in the last 12 months after the shares of his company Pinduoduo fell at the same rate. This is also the most serious example of how things turned out for Chinese billionaires amid calls from President Xi Jinping for “common prosperity” and restrictions on private sector companies. In November, the company’s shares lost 21% of their value after declaring weaker-than-expected sales.
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