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Billionaire list shows $1 trillion hit from 2018 market meltdown
February 28, 2019

From the Associated Press:

BANGKOK (AP) – The stock market meltdowns in 2018 obliterated $1 trillion of the fortunes of the world's richest individuals, according to a list by wealth compiler Hurun Report.

The report, China's version of the Forbes rich list, showed Chinese billionaires still outnumbered those from any other country as of Jan. 31, at 658. Several newly minted ones amassed wealth through big share offerings, while 212 Chinese tycoons lost their dollar billionaire status.

The U.S. had 584 billionaires, followed by Germany with 117.

The biggest gains in wealth last year came in the areas of technology, media and telecoms, followed by real estate and other investments, manufacturing and retailing.

Continue reading at the AP News...

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