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 »
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.
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.
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.
Five IPOs have helped at least 16 tech bigwigs ring up a combined $48 billion of net worth at the time of the listings.
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.
Its American depositary receipts have soared more than 80 per cent this year, fueled by surging revenue.
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.
Ma and his Alibaba Group Holding Ltd. have minted a network of people whose combined fortunes total more than $52 billion
Eight new billionaires have emerged in China this year, while the fortunes of its wealthiest have risen faster than anywhere else