Fortunes of China's super rich plunge as economy slows
The Straits Times|November 09, 2022
11% fall in number making it to Hurun list; their total wealth drops 18%
Fortunes of China's super rich plunge as economy slows

China's super-rich saw their wealth tumble by the most in over two decades this year, as the Russia-Ukraine Beijing's war, zero-Covid-19 measures and falling mainland and Hong Kong stock markets pummelled fortunes, an annual rich list said on Tuesday.

The Hurun rich list, which ranks China's wealthiest people with a minimum net worth of 5 billion yuan (S$969 million), said only 1,305 people made the mark this year, down 11 per cent from last year. Their total wealth was US$3.5 trillion (S$4.9 trillion), down 18 per cent.

Meanwhile, the number of individuals with US$10 billion fell by 29 to 56, and the number of dollar billionaires dropped by 239 to 946 this year.

هذه القصة مأخوذة من طبعة November 09, 2022 من The Straits Times.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

هذه القصة مأخوذة من طبعة November 09, 2022 من The Straits Times.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

المزيد من القصص من THE STRAITS TIMES مشاهدة الكل
WINE BAR RENAISSANCE
The Straits Times

WINE BAR RENAISSANCE

New bars add to the tippling scene in Singapore

time-read
8 mins  |
November 03, 2024
Is that hairy crab you ordered the real deal?
The Straits Times

Is that hairy crab you ordered the real deal?

The prized crustacean is in season, with most restaurants getting their produce from Yangcheng Lake or Lake Tai in China

time-read
3 mins  |
November 03, 2024
From making tamales to starting a Mexican eatery, mum's the word
The Straits Times

From making tamales to starting a Mexican eatery, mum's the word

Making tamales stirred up memories of Ms Maribel Colmenares' late mother, so much so that she could not stop crying as she prepared the traditional Mexican staple for her home-based business.

time-read
5 mins  |
November 03, 2024
Singapore Land Authority chief finds life lessons in memoirs and business books
The Straits Times

Singapore Land Authority chief finds life lessons in memoirs and business books

Who: Colin Low, 48, chief executive of Singapore Land Authority (SLA). He joined SLA in 2021 after more than 20 years in the private sectors of real estate and hospitality.

time-read
3 mins  |
November 03, 2024
Malaysian writer tackles trauma, female rage with sensitivity
The Straits Times

Malaysian writer tackles trauma, female rage with sensitivity

Included in the beginning of the book by Malaysian author Hanna Alkaf is a list of trigger warnings, a much appreciated touch as the story touches on trauma and its effects.

time-read
2 mins  |
November 03, 2024
Andre Aciman's My Roman Year a transporting memoir of adolescent exile
The Straits Times

Andre Aciman's My Roman Year a transporting memoir of adolescent exile

Most people remember their adolescence by its major furniture pieces lengthy school years, overstated rebellion, early pangs of desire.

time-read
2 mins  |
November 03, 2024
French author's swansong proves conservatives create great art too
The Straits Times

French author's swansong proves conservatives create great art too

Purportedly his final novel, Michel Houellebecq's Annihilation is a wide-ranging vehicle for communicating his views from religion to death

time-read
3 mins  |
November 03, 2024
My hearse is a 'sports car'
The Straits Times

My hearse is a 'sports car'

Let's Talk About Death is a five-episode docuseries that follows millennials and their loved ones as they navigate end-of-life planning, and it starts honest conversations about death and dying well.

time-read
1 min  |
November 03, 2024
Slaying' with Gen Z marketing
The Straits Times

Slaying' with Gen Z marketing

More government ministries and public institutions are embracing a worldwide social media trend, in which Gen Z interns write the marketing script for their older colleagues to present

time-read
5 mins  |
November 03, 2024
Gen Z start-up launches Singapore's first menopause festival
The Straits Times

Gen Z start-up launches Singapore's first menopause festival

Femtech start-up Surety's co-founders were inspired by their mums' experiences

time-read
6 mins  |
November 03, 2024