Tania Branigan of the Guardian reports on the effect of the 2008 financial crisis on Chinese billionaires.
A 60% plunge in the Chinese stock market and 50% drop in Hong Kong shares has wiped hundreds of millions of dollars off the biggest fortunes.
The top 40 lost an even larger proportion of their wealth – $68bn, or 57% – according to Forbes magazine, which compiles the rich list annually.
Yang Huiyan, the real estate heiress who topped last year’s list, is the biggest loser. Her net worth dropped a staggering $14bn, leaving her with $2.2bn – enough still to scrape in at third place.
