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China's billionaires are making money for the first time since 2020
Financial Express Kochi
|December 19, 2024
BOOST TO ECONOMY
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.
Cette histoire est tirée de l'édition December 19, 2024 de Financial Express Kochi.
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