China’s Billionaires Are Losing Billions Fast

  • Order Reprints

  • Print Article

im 402673?width=620&height=413

Colin Huang, chief executive officer and founder of Pinduoduo.

Photograph by Qilai Shen/Bloomberg

If you thought your portfolio has been badly hit by China’s ever-widening crackdown, check out these numbers.

Pinduoduo founder Colin Huang’s wealth has dropped by an astonishing $27 billion this year, according to the Bloomberg Billionaires Index. The e-commerce company’s American depositary receipts have fallen 44% year-to-date, as Beijing has targeted tech giants and U.S.-listed Chinese companies, among others. He’s not the only one—Tencent’s founder Pony Ma has lost $10 billion, while Zhong Shanshan, chairman of bottled…

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button