HONG KONG (BLOOMBERG) - Asia's richest person lost US$3.6 billion (S$5.06 billion) on Monday, the most among all billionaires worldwide, as China's stock markets had the biggest plunge since 2007 and a wave of selling spread across the globe.
Wang Jianlin saw US$2 billion wiped from his stake in Dalian Wanda Commercial Properties Co., according to the Bloomberg Billionaires Index, after the Hong Kong-listed property developer tumbled 17 per cent to its lowest level since it went public in December. Mr Wang also lost nearly US$1 billion from his Shenzhen-traded Wanda Cinema Line Co., which fell by the exchange-exposed limit of 10 per cent on Monday.
But no need to be sad for Mr Wang: His fortune stood at US$31.2 billion after the rout.
Twenty-four billionaires saw their wealth fall by more than US$1 billion on Monday.
About US$124 billion was wiped off the collective fortunes of the world's 400 richest people as the global selloff that pushed the Standard & Poor's 500 Index into its first correction in nearly four years.
Asian billionaires have been hit the hardest over recent months. They shed a fifth of their wealth in the past three months and US$54 billion since the start of trading on Friday.
Mainland Chinese billionaires lost more than US$14 billion on Monday collectively, or 6 per cent of their total net worth. Indian billionaires recorded falls equivalent to 6.6 per cent of their overall wealth.
Here are some of the biggest losers, how much they lost and how much they are worth after Black Monday.
1. China's Wang Jianlin, Dalian Wanda Commercial Properties Co
Lost: US$3.6 billion
2. America's Bill Gates, Microsoft, biggest loss after Wang
Lost: US$3.2 billion
3. America's investment guru Warren Buffett
Lost: US$2 billion
4. Europe's biggest loser, Amancio Ortega, Inditex SA
Lost US$1.5 billion
5. Mexico's Carlos Slim
Lost US$1.6 billion