Tycoon lost $3.6bn on ‘Black Monday’, according to Bloomberg, as 24 billionaires saw their fortunes fall by more than $1bn in one day

Asia’s richest person was the largest loser in Monday’s stock market crash in China, after stocks in the region fell dramatically.

Chinese tycoon Wang Jianlin, whose UK interests include luxury boat firm Sunseeker yachts and commercial property in London, lost $3.6bn (£2.3bn) on Monday, according to the Bloomberg Billionaires Index. Wang’s main business vehicle intends to build a five-star hotel on the Nine Elms regeneration site in south-west London, billed as the first Chinese luxury hotel overseas.

Continue reading…
Source: The Guardian Circular Economy RSS