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China’s top 10 tycoons add US$100 billion of wealth while Alibaba, Tencent and Meituan founders surrender US$29 billion in market’s worst year since 2008

In the worst year for Chinese stocks since 2008, China’s 10 biggest winners gained almost US$100 billion of additional wealth. Global investors, facing an onslaught of regulatory crackdowns and economic slowdown, were US$5.2 trillion poorer in the broader sell-off. Topping the list is Robin Zeng Yuqun, the chairman and founder of electric-car battery maker Contemporary Amperex Technologies, or CATL, whose fortunes grew as its shares jumped 68 per cent in Shenzhen after a 252 per cent surge in 2020.

China’s top 10 tycoons add US$100 billion of wealth while Alibaba, Tencent and Meituan founders surrender US$29 billion in market’s worst year since 2008 comes via ChinaTechNews.com.

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