Home Blockchain News 213 Former Chinese Billionaires Are Now…Cue the Violins…Just Millionaires

213 Former Chinese Billionaires Are Now…Cue the Violins…Just Millionaires

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After a bruising year for the stock market, China has lost 231 billionaires. Although China gained 52 new members of the ten-figure club, it’s still a big net loss, with the total number of uber-rich individuals falling from 819 to 658. The figures, revealed in the eighth annual Hurun Global Rich List, show just how precarious China’s economy has become. With a 25 percent stock market collapse in 2018, China’s wealthy have taken a hit. But let’s not get too sympathetic. After all, they’re still millionaires. The global 1 percent still owns half the world’s entire wealth. $1 Trillion Wiped

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* First published on ccn.com

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