Pandemic strips US$408b from world's richest 100

The world's top 100 billionaires shed US$408 billion (HK$3.18 trillion), or 13 percent, in assets in February and March amid the Covid-19 pandemic, wiping out all gains made in the past two and a half years, according to the Hurun Research Institute.

The top 10 richest men of the Hurun Global Top 100 also lost US$125 billion. Among the rich list, 86 billionaires saw their wealth decrease and only nine people's wealth increased, while that of five of them remained unchanged.

In China, Pony Ma Huateng who chairs internet giant Tencent (0700), became the richest man in the country for the first time with a net wealth worth of US$41 billion, although his wealth fell 7 percent in the past two months.

Jack Ma Yun, cofounder of Alibaba (9988), also topped the list with a net worth of US$41 billion, after his asset dropped 9 percent during the period.

Sun Piaoyang, chairman of Shanghai-listed Jiangsu Hengrui Medicine, and his wife Zhong Huijuan, founder and chairwoman of Hansoh Pharmaceutical (3692), surpassed China Evergrande (3333) chairman Hui Ka-yan and Hong Kong tycoon Li Ka-shing, taking the third place of the top 10 billionaires in China as the couple's net wealth rose 2 percent to US$28.5 billion in February and March.

The fortune of real estate magnates shrank significantly amid the pandemic, with Hui's net wealth slumping 21 percent to US$26 billion.

Yang Huiyan, controlling shareholder of Country Garden (2007), and her family, also saw their net wealth drop 7 percent to US$25 billion.

Li and Henderson Land Development's (0012) founder Lee Shau-kee ranked sixth and eighth on the list. Li's wealth fell 14 percent to US$24 billion, while Lee lost 13 percent to US$23.5 billion.

Luckin Coffee share prices dropped 90 percent last week due to the accounting scandal, and founders Charles Lu Zhengyao and Jenny Qian Zhiya are no longer billionaires.

Eric Yuan Zheng, founder and chief executive of Zoom Video Communications, was the biggest gainer of the past two months, as his wealth grew 77 percent from US$3.5 billion to US$8 billion.

Alex Xu Hang, founder and the chairman of Mindray Medical International which manufactures ventilators and life support devices, also saw his wealth go up by 26 percent to US$13.5 billion.