The net worth of China's richest dropped 12.8% in dollar terms on the back of tumbling stock markets and a weaker local currency, but the country continues to produce a new billionaire every 2-2.5 days.
ZURICH (Reuters) - The world's richest people became a little less well off last year, according to a report by UBS and PwC, as geopolitical turmoil and volatile equity markets reduced the wealth of billionaires for the first time since 2015.
Billionaires' wealth fell by US$388bil globally to US$8.539 trillion, the UBS/PwC Billionaires Report found, with a particularly sharp decline in Greater China - the second-biggest home for billionaires after the United States - and the Asia-Pacific region more broadly.
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