The net worth of Hui Ka Yan, founder of the debt-stricken Evergrande real estate group, declined by $25bn over the past year, exposing the toll President Xi Jinping’s regulatory crackdowns are taking on China’s greatest personal fortunes.
According to the annual Hurun Rich List, published on Wednesday, Hui’s net worth has fallen almost 70 per cent to $11.3bn since 2020, making him China’s 70th richest person. He ranked as the country’s fifth richest person last year and topped the list four years ago.
Zhong Shanshan, a 67-year-old bottled water baron, was ranked China’s richest person with a fortune estimated at just over $60bn.
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