China S Superrich Decimated As Economic Downturn Wipes Out Billions
The number of Chinese entrepreneurs worth 5 billion Chinese yuan ($710 million) or more on September 15 fell by 11 percent, or 160 people, to 1,305, compared to the same time in 2021, said Hurun Report, which is led by Rupert Hoogewerf. Their collective wealth dropped 18 percent to $3.5 trillion, while 293 people dropped off 2022’s China rich list altogether, said the report. Those in China’s real estate and healthcare industries suffered the biggest losses....