The 0.0000002%

11 November 2019 By Sharon Lam Follow @sharonlamhk

Alibaba’s Jack Ma and fellow billionaires saw their net worth drop 12% in 2018. That’s steeper than for peers globally, in part due to a weaker yuan. But the number of super-tycoons shrank too, a reminder that wealth is concentrating even at the top of China’s economic pyramid.

This content is for Subscribers only

Subjects

Regions

Asia-Pacific

Chinese super-rich disrupt and are disrupted

Context News

Billionaire wealth dropped just over 4% globally to $8.5 trillion in 2018, after rising over five years, when it grew by 34.5%, according to the "Billionaires Insights 2019" report by bank UBS and consultancy PwC.

Chinese billionaires’ net worth fell by more than 12%. The depreciation of the Chinese currency against the U.S. dollar accounted for roughly half of the decline, according to the report.

There were 325 Chinese billionaires at the end of 2018, down 48 compared to the previous year.

Email a friend

Please complete the form below.

Required fields *