Billionaire list shows $1T hit from '18 market meltdown

BANGKOK -- The stock market meltdowns in 2018 obliterated $1 trillion of the fortunes of the world's richest individuals, according to a list by wealth compiler Hurun Report.

Though Chinese and other Asians are steadily gaining in wealth, Amazon founder Jeff Bezos topped the global chart for the second year running, with wealth estimated by the Hurun Global rich list at $147 billion. Bill Gates ranked second with $96 billion and Warren Buffett was third with $88 billion. The only Asian among the top 10 richest in the world was Mukesh Ambani of Indian conglomerate Reliance Industries, ranked 8th with wealth estimated at $54 billion.

The newly minted Chinese billionaires included Colin Huang Zheng of e-commerce platform Pinduoduo and Chinese Hotpot King Zhang Yong and his wife Shu Ping. Others were Zhang Yiming of ByteDance, an Internet technology"unicorn" valued at $75 billion, and Zhan Ketuan of bitcoin miner Bitmain. Beijing was the city with the most billionaires, at 103, followed by New York at 92 and Hong Kong with 69. Of the top 20 cities with the most billionaires, 13 were in Asia.

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