Billionaire list shows $1T hit from ’18 market meltdown
The Associated Press02/27/19, 01:55
A rich list by wealth compiler Hurun Report shows the market meltdowns in 2018 obliterated $1 trillion in wealth, with more than 212 of China’s richest individuals losing their dollar billionaire status.
The report, China’s version of the Forbes rich list, showed Chinese billionaires still outnumbered those from any other country as of Jan. 31, at 658. Several newly minted ones amassed wealth through big share offerings.
Amazon founder Jeff Bezos led the world’s wealthiest for the second year running, estimated by the Hurun Global rich list at $147 billion.
Overall, it says there are 2,470 billionaires in the world by its reckoning, down 224 from last year.
The Hurun Report, founded by CEO Rupert Hoogewerf, released the report in partnership with a Chinese luxury property developer, Loong Palace.