Amidst global trade tensions and concerns hovering around the stock valuations, the top tycoons of Asia, 128 of them have lost $137 billion in this year. Making this year, the first since 2012, when the inaugural ranking of the Bloomberg Billionaires Index got released, to register such a fall in the Asian region.
A heavy decline was observed in China’s tech sector, along with that of India and South Korea.
India’s top 23 richest people lost a whopping $21 billion. The CEO of the world’s biggest steel manufacturer, Lakshmi Mittal lost the most, $5.6 billion, almost 30% of his net worth. Following him in the list, Dilip Shanghvi of Sun Phara saw a decline of $4.6 billion in his wealth.
South Korea’s top seven richest people lost $17.2 Billion. The duo which runs Samsung Electronics, Lee Kun-Hee & Jay Y Lee lost one-third of it.
Among the gainers were the chairman of Xiamoi Corp, who added $8.6 billion; Tadashi Yanai piled $6.3 billion and India’s Mukesh Ambani added $4 billion to his fortune.
Colin Huang, founder & CEO Pinduoduo, saw an addition of $6.6 billion to his net worth.
Sun Hung Kai Properties’ former chairman Walter Kwok whose worth was $9.1 billion died at the age of 68 in October. Vichai Srivaddhanarabha, founder of Thaliand’s King Power Group and owner of the English Premier League club Liecester city, lost his life in a helicopter crash.