The annual list shown includes Rich Chinese today, Tuesday, their wealth declined at the fastest pace of the past two decades in 2022, For reasons driven by the war between Russia and Ukraine and by Beijing’s measures to eliminate the Corona virus, in addition to the decline in the stock markets of the mainland and Hong Kong.
And according to the Hurun Rich List, which ranks China’s richest people with net worth of at least five billion yuan ($ 692 million), only 1,305 people managed to hit that number this year, down 11. % from last year, while their total wealth reached $ 3.5 trillion, down 18%, according to “Reuters”.
Meanwhile, the number of individuals with a fortune of $ 10 billion each declined by 29 to 56, and the number of billionaires fell from 239 to 946 this year.
“This year has seen the biggest decline of Huron China Reach in the past 24 years,” said Robert Hoogwerf, president and chief researcher of the research firm Huron Report, which compiles the list.
This year’s global economic outlook has been severely affected by the war in Ukraine and slowing economic growth in China, which in turn has been exacerbated by the country’s tough coronavirus policies and prolonged housing stagnation.
The two-year crackdown on major Chinese tech companies like Alibaba Group and Tencent Holdings by regulators has hurt and fears that President Xi Jinping will sacrifice growth for political ideology in his third term has hurt investor confidence. as the stock markets of Hong Kong and the mainland plummeted in recent weeks.
Topping their declining fortunes on the 2022 list, entrepreneur Yang Huiyan, a major shareholder of Country Garden Holdings, who suffers from debt problems like other real estate developers in China, as her fortune dropped by $ 15.7 billion. dollars.
Zhong Shanshan, owner of Nongfu Spring Water Bottling Company and Beijing and Tantai Biological Pharmacy Enterprise for Vaccine Development, both listed companies, ranked # 1 on the list for the second consecutive year, with a fortune growing 17% to to reach 65 billion dollars.
Shang Yiming, founder of ByteDance, owner of Tik Tok, came in second, but his fortune dropped 28% to $ 35 billion due to ByteDance’s declining valuation.
In third place was Zheng Yukon, president of the battery giant CATL.
And Bonnie Ma, founder of Tencent, recorded the second largest decline in wealth, worth $ 14.6 billion, amidst the decline in tech stocks, to take fifth place on the list.
Alibaba founder Jack Ma and his family fell four places to ninth place.
