Financial Crisis Wipes Billions off Wealth of China’s Super-rich

Tania Branigan of the Guardian reports on the effect of the 2008 financial crisis on Chinese .

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.

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