Venus Feng

Asia’s richest lost a combined $137b of wealth in 2018

The world’s fastest growing source of mega-wealth hit a speed bump this year. The 128 people in Asia with enough money to crack the 500-member Bloomberg Billionaires Index lost a combined $137 billion in 2018, the first time wealth in the region has dropped since the ranking started in 2012…. Read more »


Tencent Music’s upcoming IPO set to spawn new billionaires

Co-presidents Xie Zhenyu and Xie Guomin are on the brink of becoming billionaires as Tencent Music prepares a public stock offering in New York that may value the company at $24.5 billion.


Chinese millionaires hot on the trail of Japan’s $7.7t wealth pool

The pool of wealth held by China’s high-net-worth individuals grew by more than 144 percent between 2010 and 2017, to reach $6.5 trillion.


Tech titan’s fortune suffers $9.2b nosedive in China

The 48-year-old chairman of 360 Security Technology Inc. has experienced the downside of listing in China, after stocks tumbled on concerns about a U.S. trade war and a slowing economy.


China’s unicorns race to IPO as US startups choose to stay private for longer

Five IPOs have helped at least 16 tech bigwigs ring up a combined $48 billion of net worth at the time of the listings.


Asia’s billionaire club balloons on the back of mega IPOs

Of the 27 billionaires to surface in Asia this year, about a third did so through initial public offerings in Hong Kong and Shenzhen, according to the Bloomberg Billionaires Index.


China’s hiring site 51job helps CEO accumulate a $1.5b fortune

Its American depositary receipts have soared more than 80 per cent this year, fueled by surging revenue.


Amazon helps China’s Anker Innovations founder turn mom’s money into a billion

Steven Yang combined his Google money with his mom’s, and with less than $1 million in seed capital he moved from California to Shenzhen, a hub in southern China for technology companies.


Alibaba’s rise creates 10 billionaires not named Jack Ma

Ma and his Alibaba Group Holding Ltd. have minted a network of people whose combined fortunes total more than $52 billion


Fintech enables two to-be billionaires as fortune favours the wealthy in China

Eight new billionaires have emerged in China this year, while the fortunes of its wealthiest have risen faster than anywhere else