Wealth
China’s Real Estate Tycoons Lost $100 Billion in the Housing Collapse
The runup in mainland property prices minted dozens of billionaires. The sector’s collapse has erased most of that wealth.
The rise of China’s housing market over the past few decades was responsible for one of the greatest waves of wealth accumulation in history, minting dozens of billionaires and landing at least 10 of them in the ranks of the planet’s 500 richest people. The collapse in Chinese real estate in recent years has been equally efficient—at wealth destruction, erasing more than $100 billion from the fortunes of those tycoons. Here’s where some of them have landed.
China Evergrande Group