InstaForex

Rich People in This World Suddenly 'Fall Poor', Duh... Losing Assets to Trillions!


 A number of people in the world are privileged to have abundant wealth. Not without effort, he got this wealth from various businesses that he was involved in.

But again, the name is business and there must be such a thing as a loss. Not infrequently, such a large loss can make the owner suddenly fall into poverty. As experienced by Jack Ma.


Jack Ma, who founded Alibaba, is known as one of the richest people in China. Unfortunately, he had to lose more than half of his wealth as a result of the Chinese Government's harsh policies towards his company.


In addition to the figure of Jack Ma, Forbes also projects that there are 4 billionaires in the world who must lose their wealth this year. Who are they? Read on in full here!


1. Colin Zheng Huang


Recently, the Chinese government cracked down on e-commerce company Pinduoduo, which is owned by Colin Zheng Huang. Because of this, his fortune had to be shaken and fell to as much as US$40.2 billion.


Then the situation was exacerbated by Colin's sudden resignation last March. As a result, the stock fell by 21 percent in November 2021.


2. Jack Ma


Jack Ma's wealth is no longer a secret. He previously had a fortune of US $ 37 billion, but in the last year he had to lose his fortune to US $ 21.4 billion.


It was the first time Chinese regulators canceled a planned $35 billion IPO by Ant Group, Alibaba's parent company in November 2020. Things got even worse when Alibaba was fined $2.8 billion in April, in the highest antitrust penalty ever imposed. in China.


Because of the above, Alibaba's wealth has fallen by more than 46 percent this year.


3. Hui Ka Yan


Hui Ka Yan, the founder of Evergrande, became one of the billionaires who had to lose his fortune. He suffered a loss of US $ 18 billion due to the financial crisis that hit his property company.


Evergrande reportedly failed to pay its debts, so the value of its shares on the Hong Kong stock exchange fell to US$ 0.19 per share. Then, in order to keep his property business running, it is reported that Hui Ka Yan had to spend privately and pay US$300 billion so that his debt would not swell.



4. Zhang Yong


Zhang Yong, who is the founder of Haidilao, a hotpot network company in China, also lost his fortune. He lost assets of up to US $ 15.9 billion. This Singaporean man is expanding his business by doubling the number of his restaurants to 1,600.


Unfortunately, fate said otherwise. The Covid-19 pandemic that has hit almost the entire country has made Haidilao's loyal customers unable to visit and of course caused losses. 300 restaurants ended up closing at the end of the year and the stock fell 71 percent.

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