Billionaire's meltdown

Photo: The Canadian Press

In this Dec. 18, 2018, file photo, Jack Ma, center, chairman of Chinese e-commerce firm Alibaba Group, stands during a conference to commemorate the 40th anniversary of China's Reform and Opening Up policy at the Great Hall of the People in Beijing.

A rich list by wealth compiler Hurun Report shows the market meltdowns in 2018 obliterated $1 trillion in wealth, with more than 212 of China's richest individuals losing their dollar billionaire status.

The report, China's version of the Forbes rich list, showed Chinese billionaires still outnumbered those from any other country as of Jan. 31, at 658. Several newly minted ones amassed wealth through big share offerings.

Amazon founder Jeff Bezos led the world's wealthiest for the second year running, estimated by the Hurun Global rich list at $147 billion.

Overall, it says there are 2,470 billionaires in the world by its reckoning, down 224 from last year.

The Hurun Report, founded by CEO Rupert Hoogewerf, released the report in partnership with a Chinese luxury property developer, Loong Palace.