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China’s super-rich see fortunes plunge as economy slows

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Reuters UK

By Brenda Goh (Reuters) – China’s super-rich saw their wealth tumble by the most in over two decades this year, as the Russia-Ukraine war, Beijing’s zero-COVID measures and falling mainland and Hong Kong stock markets pummelled fortunes, an annual rich list said on Tuesday. The Hurun Rich list, which ranks China’s wealthiest people with a minimum net worth of 5 billion yuan ($692 million), said only 1,305 people made the mark this year, down 11% from last year. Their total wealth was $3.5 trillion, down 18%. Meanwhile, the number of individuals with $10 billion fell by 29 to 56, and the number…

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