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

  • 📰 YahooSG
  • ⏱ Reading Time:
  • 48 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 23%
  • Publisher: 71%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

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

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.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Market mismatch slows once-booming private property market in PenangChairman of the real estate housing development association in Penang, Toh Chin Leong, on how high land prices and construction costs are eating in developers’ profit margins: (📹: Aidila Razak) You are STILL making good $$$, why are you bitching!! Haha...he is only looking at the profit margin against revenue. Most developers are leveraged. ROEs can be very high. In fact, if you look at price psf, developers profit margin is among the highest margin of all. The question is how much profit 20% 30% or 40% greed knows no limits
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Market mismatch slows once-booming private property market in Penang, MalaysiaKUALA LUMPUR: Discounts, lucky draws and freebies were everywhere at property fairs across Penang over the first weekend of the Chinese New Year ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »