It is no news that the Covid-19 pandemic has hit the global economy hard, and many businesses have crumbled since then. On the flip side, quite a number of businesses and billionaires have thrived amid the coronavirus pandemic, yet, many global billionaires have lost fortunes.
Asia’s former richest man, Hui Ka Yan, a real estate mogul who aspires to become the world’s biggest electric car maker has seen his wealth plunged by $12 billion since the pandemic began. In 2017, Hui Ka Yan was crowned as the richest man in Asia with a net worth of $45.3 billion. Now his net worth stands at $22.4 billion. It is believed that the bulk of his fortune is generated from his Evergrande Group, although the company reportedly lost 40% of its value this year. It’s losses amount to debts and falling profits, and the ravaging coronavirus pandemic which has put the Asian market on a slowdown.
https://www.investingport.com/hui-ka-yan-wealth-drops-by-12-billion/
Asia’s former richest man, Hui Ka Yan, a real estate mogul who aspires to become the world’s biggest electric car maker has seen his wealth plunged by $12 billion since the pandemic began. In 2017, Hui Ka Yan was crowned as the richest man in Asia with a net worth of $45.3 billion. Now his net worth stands at $22.4 billion. It is believed that the bulk of his fortune is generated from his Evergrande Group, although the company reportedly lost 40% of its value this year. It’s losses amount to debts and falling profits, and the ravaging coronavirus pandemic which has put the Asian market on a slowdown.
https://www.investingport.com/hui-ka-yan-wealth-drops-by-12-billion/