News Analysis
According to the Hurun Research Institute, 229 Chinese billionaires have fallen from this year’s global rich list, accounting for more than half of dropouts. The wealth of real estate tycoons dropped at an alarming rate, with more than 10 on last year’s list completely falling out of the ranking this year.
Against the backdrop of a global slowdown, the total dropouts worldwide reached 445, the largest number in history, according to Hurun.
Property Tycoons See Fortunes Drop
Property developers who dropped from the “2023 Hurun Global Rich List” include the Lin brothers from CIFI Group, Lin Tengjiao from Yango Group, Shen Tianqing, chairman of Jiayuan International, Zhang Yaoyuan, Su Rupo, and Ou Xueming from Country Garden, and Chen Runguang and Chen Jianmin from Everbright Group….