Wealth of China’s Richest Plunges by 39 Percent in 2022

Traditional industries overtake information technology

Forbes released the China’s Richest 2022, the total wealth of the top 100 richest people has fallen by 39 percent in the past year. Hong Kong's richest man Li Ka-shing for the first time in 5 years surpasses Tencent's Ma Huateng. This picture shows Li Ka-shing (M) waving to reporters at a press conference in 2017. Anthony Wallace/AFP via Getty Images

Forbes recently released China’s Richest 2022.  Among the top 100 richest people, 79 of them saw their wealth fall.

The biggest wealth drop since Forbes’ records began with a drop of 39 percent—from $1.48 trillion in 2021 to $907.1 billion in 2022.