Photos of recent events: 5 billionaires with biggest losses in 2021

Forbes has released a list of billionaires with the biggest losses in 2021. Chinese businessmen were the biggest losers last year. In 2021, they were only 4% richer compared to the previous year, down from 60% in 2020. Most entrepreneurs failed to make any gains at all, while others' losses were big enough to top Forbes's list. Let us have a look at the 5 billionaires with the biggest losses.

For Traders

Forex Analytics

Photonews

15:40 2022-01-25 350 5

15:40 2022-01-25 Colin Zheng Huang, founder of Pinduoduo In spring of 2021, Pinduoduo became the biggest online marketplace in China, surpassing Alibaba in the number of active buyers. However, the growing regulatory crackdown forced its founder and chairman Colin Zheng Huang to resign. Shares of Pinduoduo nosedived by more than 60%, erasing $40 billion from Huang’s fortune – the biggest loss suffered by a billionaire in 2021.

Colin Zheng Huang, founder of Pinduoduo
In spring of 2021, Pinduoduo became the biggest online marketplace in China, surpassing Alibaba in the number of active buyers. However, the growing regulatory crackdown forced its founder and chairman Colin Zheng Huang to resign. Shares of Pinduoduo nosedived by more than 60%, erasing $40 billion from Huang’s fortune – the biggest loss suffered by a billionaire in 2021.

15:40 2022-01-25 Jack Ma, founder of AlibabaOnline commerce giant Alibaba was another target of the crackdown by Chinese authorities. In spring of 2021, Alibaba was forced to pay the biggest corporate fine in China’s history for violating anti-trust regulations - $2.8 billion. As a result, the company’s market cap dropped by more than 45% in 2021, wiping out 37% of Jack Ma’s fortune and costing him the title of China’s richest person. He is now the fifth wealthiest person in the country.

Jack Ma, founder of Alibaba
Online commerce giant Alibaba was another target of the crackdown by Chinese authorities. In spring of 2021, Alibaba was forced to pay the biggest corporate fine in China’s history for violating anti-trust regulations - $2.8 billion. As a result, the company’s market cap dropped by more than 45% in 2021, wiping out 37% of Jack Ma’s fortune and costing him the title of China’s richest person. He is now the fifth wealthiest person in the country.

15:40 2022-01-25 Hui Ka Yang, chairman of China EvergrandeChina Evergrande, the country’s biggest real estate company, came close to defaulting on its debts in 2021 due to inability to pay interests on its dollar bonds. Its chairman, Hui Ka Yang, was forced to inject $1 billion from his personal fortune into the company to keep it afloat. However, he failed to improve China Evergrande’s financial situation, which lost $18 billion last year. The worst debt crisis in China’s history is looming over the real estate market, threatening to shrink the company’s market cap even further.

Hui Ka Yang, chairman of China Evergrande
China Evergrande, the country’s biggest real estate company, came close to defaulting on its debts in 2021 due to inability to pay interests on its dollar bonds. Its chairman, Hui Ka Yang, was forced to inject $1 billion from his personal fortune into the company to keep it afloat. However, he failed to improve China Evergrande’s financial situation, which lost $18 billion last year. The worst debt crisis in China’s history is looming over the real estate market, threatening to shrink the company’s market cap even further.

15:40 2022-01-25 Zhang Yong, chairman of Haidilao Singapore’s Zhang Yong is the founder of Haidilao, China’s biggest hotpot chain with restaurants around the world. Far fewer customers visited the company’s restaurants in 2021 due to the lockdown, negatively affecting Haidilao’s revenues and its share price. Over the year, Haidilao’s stock lost 70%, shaving $16 billion off Yong’s fortune.

Zhang Yong, chairman of Haidilao
Singapore’s Zhang Yong is the founder of Haidilao, China’s biggest hotpot chain with restaurants around the world. Far fewer customers visited the company’s restaurants in 2021 due to the lockdown, negatively affecting Haidilao’s revenues and its share price. Over the year, Haidilao’s stock lost 70%, shaving $16 billion off Yong’s fortune.

15:40 2022-01-25 Tadashi Yanai, president of Fast Retailing Japanese billionaire Tadashi Yanai is fifth on the list of billionaires with the heaviest losses. Yanai lost $14 billion last year, 1/3 of his entire fortune, due to a sharp drop in Fast Retailing stock price. Shares of the businessman’s company, which owns the clothing brand Uniqlo, lost 34% due to quarantine measures shutting down some of its factories in Vietnam.

Tadashi Yanai, president of Fast Retailing
Japanese billionaire Tadashi Yanai is fifth on the list of billionaires with the heaviest losses. Yanai lost $14 billion last year, 1/3 of his entire fortune, due to a sharp drop in Fast Retailing stock price. Shares of the businessman’s company, which owns the clothing brand Uniqlo, lost 34% due to quarantine measures shutting down some of its factories in Vietnam.

Back to list

Recommended photo news

Top 5 most expensive birds in the world

Some birds astonish not only with their beauty but also with their price, which can rival that of a luxury car. In this review, we have gathered the five most expensive birds in the world.

Five films about billionaires: stories inspired by real events

Stories about billionaires have always fascinated filmmakers and screenwriters. They have everything needed for gripping cinema: bold ideas, audacious ambitions, spectacular triumphs, and bitter defeats. This selection brings together five films based on real events that are worth watching for anyone interested in big money and powerful personalities.

Top 7 business titans stirring controversy

They have reached the pinnacle of power, influence, and billion-dollar fortunes. However, success came with a darker side, including allegations of ruthless control, toxic workplace cultures, ethical lapses, and questionable leadership decisions. These CEOs didn't just build companies; they reshaped entire industries, earning admiration from some and sharp criticism from others. Here's a look at seven of the most polarizing business leaders of our time