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China’s Billionaires Are Losing Billions Fast


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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…


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