China's wealthiest drop $71 billion in a day as stocks plunge
HONG KONG (BLOOMBERG) - China's inventory rout fee the state's richest tycoons more than US$52 billion (S$seventy one billion) on Monday (March 14). Zhong Shanshan, known as China's king of bottled water, led the plunge as his fortune fell with the aid of US$five billion, while Tencent's Pony Ma dropped US$three.Three billion, according to the Bloomberg Billionaires Index. Shares of Zhong's Nongfu Spring Co tumbled 10% in Hong Kong trading - the maximum in 18 months - even though he nonetheless stays China's wealthiest individual with a fortune of US$60.3 billion. Tencent fell the most given that 2011 after a file that it is dealing with a file quality for violating anti-money laundering policies. Pony Ma, as soon as the united states of america's wealthiest character, is now 0.33 with a internet worth of US$35.2 billion. The slide in Chinese stocks extended Monday after US officials said Russia asked Beijing to assist with the struggle in Ukraine, elevatin...