China’s Billionaires Are Losing Billions Fast

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Updated Sept. 17, 2021 8:13 americium ET / Original Sept. 17, 2021 6:32 americium ET

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Colin Huang, main enforcement serviceman and laminitis of Pinduoduo.

Photograph by Qilai Shen/Bloomberg

If you thought your portfolio has been severely deed by China’s ever-widening crackdown, cheque retired these numbers.

Pinduoduo laminitis Colin Huang’s wealthiness has dropped by an astonishing $27 cardinal this year, according to the Bloomberg Billionaires Index. The e-commerce company’s American depositary receipts person fallen 44% year-to-date, arsenic Beijing has targeted tech giants and U.S.-listed Chinese companies, among others. He’s not the lone one—Tencent’s laminitis Pony Ma has mislaid $10 billion, portion Zhong Shanshan, president of bottled...

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