Amid China’s sinking real estate market, a number of industry tycoons were dropped from this year’s Hurun 100 Richest People List, released on Nov. 8. Among them, the wealth of Evergrande’s Xu Jiayin shrank sharply to 30 billion yuan (about $4.22 billion), putting him in 172nd place on the list. The wealth of Yang Huiyan and family of Country Garden Holdings fell by 110 billion yuan (about $15.5 billion) compared to last year, the largest drop among Chinese billionaires.
A total of 1,305 individuals and families with wealth of more than 5 billion yuan (about $940 million) made the 2022 Hurun annual list, a decrease of 160 individuals, and an 11 percent drop, compared with 2021, and the largest decrease in the number of wealthy people in history….