CHINA'S BILLIONAIRES ARE slowly starting to recover their wealth after three years of losses from a property crisis and Xi Jinping's push for common prosperity at the expense of powerful private business owners.
The combined fortunes of 55 of the nation's wealthiest tracked by the Bloomberg Billionaires Index have risen 16% to $809.6 billion since the beginning of January, after a roller-coaster year marked by sweeping easing measures from Beijing that ultimately drove stocks higher.
Tech tycoons are leading the rebound. Tencent's Pony Ma is the biggest winner of the year, with his fortune surging by more than a third to $47.9 billion, according to Bloomberg's wealth index, which tracks the world's 500 richest people. He was followed by Lei Jun, founder of smartphone maker Xiaomi, which has surged on its rapid push into electric vehicles. The tech billionaire has added $12.8 billion.
Bu hikaye Financial Express Kochi dergisinin December 19, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Financial Express Kochi dergisinin December 19, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
Manu, Gukesh Among 4 to Be Awarded Khel Ratna
DOUBLE OLYMPIC-MEDAL-LIST Manu Bhaker and chess world champion D Gukesh were among four winners of the Major Dhyan Chand Khel Ratna award announced by the Sports Ministry, which also named an unprecedented 17 para-athletes in the list of 32 Arjuna awardees to honour their resounding success at the Paris Paralympics.
Captain Rohit to miss Sydney Test, 'opts to rest'
THE EARLY HINT of India captain Rohit Sharma sitting out of the final Test of the Border-Gavaskar Trophy at Sydney came from head coach Gautam Gambhir.
White-collar hiring up 9% in December
Hiring for white-collar jobs in India rose 9% in December compared to the same month in the previous year, a survey released on Thursday showed.
Norms for capex release...
Minimising Shortfall
Indices soar nearly 2%
EQUITY INDICES OF China, Hong Kong, and Thailand declined by up to 2.66%, while Indonesia (up 1.18%), Australia (up 0.53%), and Singapore (up 0.35%) ended with gains.
Rein in tax terrorism
WE NEED A TRANSPARENT SYSTEM THAT CURBS LITIGATION AND A QUICK RESOLUTION PROCESS
Lessons from Manmohan Singh
Singh, as an RBI governor living through the permissive 1980s, understood the value of fiscal conservatism and implemented it as finance minister
H-1B Visa Flip-Flop
Trump must convince hardliners that giving US access to the world's best and brightest is essential to its future
New Orleans attack: Accused was inspired by Islamic State
A Tesla Cybertruck exploded in flames outside the Trump International Hotel Las Vegas on Wednesday, killing the driver and injuring seven others, and the FBI was investigating whether the blast was an act of terrorism, officials said.
Europe, Asia factories end 2024 on weak footing
FACTORY ACTIVITY IN Asia and Europe ended 2024 on a soft note as expectations for the new year soured amid growing trade risks from a second Donald Trump presidency and China's fragile economic recovery.
