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Business trends

Chinese billionaire fortunes drop most in two decades: report

Real estate mogul Yang Huiyan takes biggest loss amid property sector crisis

Chinese billionaires Pony Ma, Yang Huiyan and Zhong Shanshan, from left. Tencent's Ma and developer Country Garden's Yang saw their fortunes drop this year (Source photos by Getty Images/Reuters/AP)

SHANGHAI -- The fortunes of China's wealthiest have plunged by the most in over two decades as a property market crisis and Beijing's strict COVID curbs hammer growth, according to an annual rich list published on Tuesday.

Leading the drop was businesswoman Yang Huiyan of developer Country Garden Holdings, who lost $15.7 billion from her net worth this year, while technology group Tencent's Pony Ma saw his personal fortune cut by $14.6 billion.

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