News > China’s tech moguls see $80 billion of wealth evaporate in 2021

China’s tech moguls see $80 billion of wealth evaporate in 2021

Economic Times | 30/12/2021 03:56 PM | Click to read full article

The country’s 10 richest tech tycoons lost $80 billion in combined net worth in 2021, according to the Bloomberg Billionaires Index, amid widescale crackdowns by Chinese regulators.

The drop represents almost a quarter of their total wealth and is the largest one-year decline since 2012, when the index started tracking the world’s richest people.