Hurun China Rich List: A Decrease in Personal Wealth Amidst Economic Slowdown
Slowing Economy and Its Impact on the Hurun China Rich List
According to the latest Hurun China Rich List, the economic turbulence in China has had a notable impact on the personal wealth of its billionaires. As of August 30, the total number of top earners with fortunes exceeding 5 billion yuan (approximately US$700 million) dropped by 12%, illustrating the profound effects of a slowing economy.
Key Findings from the Hurun Research Institute
- 1,094 individuals listed in the Hurun list, reflecting a decline from previous years.
- Collective wealth decrease of 10%, totaling US$2.97 trillion.
- Only 30% of the wealthiest saw a rise in their net worth.
Top Individuals Affected by Market Slides
Among the wealthiest, Zhang Yiming rose to the top with a net worth increase of 43%, reaching US$49.3 billion. Conversely, Zhong Shanshan fell to second place with a 24% decrease in wealth, now valued at US$47.9 billion.
Implications for Wealth Contributors
- Li Ka-shing and his son Victor saw a collective drop to US$28.2 billion.
- Jack Ma, with a fortune of US$23.2 billion, experienced a 3% decline.
- Robin Zeng's wealth decreased by 20%, also tying for sixth place in the list.
Future Projections
The Hurun Research Institute highlights ongoing uncertainties in the Chinese economy, with many traders keenly monitoring upcoming fiscal policies to bolster recovery.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.