China's top 100 rich-list fall in value
Global slowdown affects the wealthiest as beverage tycoon Zong Qinghou tops list
The global economic slowdown has reduced the collective wealth of the mainland's 100 richest people by 7 per cent to US$220 billion this year, Forbes has revealed.
"It's relatively rare for total wealth held by the members of our list to decline," said Russell Flannery, Forbes senior editor.
By contrast, the total wealth of China's 400 richest people rose 8 per cent in US dollar terms or 4 per cent in local currency terms to US$459 billion last year, said Forbes.
Topping this year's Forbes China rich list is Zong Qinghou, chairman of mainland beverage company Wahaha, with an estimated wealth of US$10 billion, and incease of US$3.5 billion from last year.
Wahaha told Forbes that Zong's stake in his Hangzhou-based company is more than 80 per cent, not the 29 per cent figure filed with the Hangzhou municipal government which a Wahaha spokesman said was incomplete data.