Beijing at night

As many as 213 Chinese tycoons have lost their dollar billionaire status after poor market performance and the effect of the trade tensions with the US last year.

Hurun, a China-based research platform, said markets and currency were to blame. “A 23% drop in the Chinese stock markets coupled with a 6% drop in the Chinese yuan were the main causes of the dropoffs in China”, Hurun’s chairman and chief researcher, Rupert Hoogewerf, said.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

A fall in manufacturing wiped out the most wealth, the Hurun’s report found, showing the effects that trade tensions are having on the pockets of the wealthy. Retail and real estate also suffered.

Billionaires are $1 trillion poorer

Globally, Hurun estimates the world’s billionaires are a collective $1 trillion poorer and 430 people have lost their billionaires status.

That means there are now 2,470 known billionaires in the world, down from 224 last year. This is larger than other estimates. UBS estimated there were 2,158 billionaires in the world in 2017. Last year Forbes reported a record 2,208 billionaires.

Hurun, which specalises on Chinese and Indian wealth, finds more billionaires in China than anywhere else in the world. With 584 billionaires, China has 74 more than the US. Beijing has 11 more than New York.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

India is in fifth place after the UK and Germany. It has a total of 104 billionaires though has lost 28 in the past year.

However, both Forbes and UBS say the US is still home to more billionaires than any other country.

As China’s billionaires have already felt the effects of trade tensions in their own businesses and the marketplace, the future of their wealth – and their world ranking – is uncertain.