23 China billionaires together lost $20 billion in 12 months
The latest IPOs in China made billionaires out of at least 23 tycoons in the past 12 months, whose collective wealth has now dropped by $20 billion. Their combined fortune dipped from $55 billion to $35 billion. This included Ding Lieming, Chairman of Betta Pharmaceuticals, whose wealth rose five-fold in three weeks before plunging by almost half in six months.