Chinese billionaire Zhong Shanshan (Zhong Shanshan), who is known as China’s king of bottled water, led the plunge as his fortune fell by $5 billion. Meanwhile, the fortune of the owner of Tencent Company Ma Hoa Dang (Pony Ma) decreased by $ 3.3 billion. These numbers are based on the billionaire wealth ranking of Bloomberg (Bloomberg Billionaires Index).
Stock Nongfu Spring Co. of billionaire Chung Shaan Shaan fell 10% on the Hong Kong market (China), the most in the past 18 months. However, with a net worth of 60.3 billion USD, Mr. Chung Shaan Shaan is still the richest person in China.
Billionaire Chung Shaan Shaan, the richest man in China. Photo: Reuters
Tencent shares fell the most since 2011 after news that the company faced a record fine for violating anti-money laundering regulations. The Central Bank of China discovered that Tencent’s WeChat Pay allows money transfers for illegal purposes and many other problems.
Before that, China has aggressively imposed stricter management measures on its Internet industry, causing tens of billions of dollars to be blown away from the capitalization of technology giants. Tencent has avoided most of the legal troubles so far.
Billionaire Ma Hoa Teng – once the richest man in China – is third with a net worth of $35.2 billion.
Chinese stocks fell sharply on March 14 after US officials said Russia had asked Beijing for help in its conflict with Ukraine, raising concerns about the impact on Chinese companies. that is potentially punishable.
The Hang Seng China Enterprises index fell the most since November 2008 while the Hang Sang Tech index fell 11%, the worst drop since its inception.
According to Bloomberg76 Chinese billionaires among the world’s 500 richest have lost $228 billion this year, or a fifth of their total wealth.
Billionaire Zhang Yiming of ByteDance, is the second richest man in China, with a fortune of $44.5 billion. Billionaire Ma Van (Jack Ma) is currently ranked 4th with a fortune of 34.3 billion USD. Billionaire Jack Ma’s fortune surpassed $60 billion by the end of 2020 before the Chinese government launched an antitrust campaign, suspending the listing of his payment company Ant Group just two days before listing.
On March 11, shares of Didi Global Inc. dropped a record 44% as the company halted preparations for a listing in Hong Kong. The founder of the ride-hailing app Didi Cheng Wei (Cheng Wei) also dropped out of the Chinese billionaire group.
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