HURUN SPECIAL REPORT ON ‘Wealth IMPACT 2mths after Covid-19 Outbreak’

WORLD’S TOP 100 BILLIONAIRES LOSE US$408BN, OR 13%, IN TWO MONTHS, WIPING OUT ALL GAINS MADE IN PAST TWO AND A HALF YEARS; TOP 10 LOSE US$125BN

FASTEST RISER CALIFORNIA-BASED ERIC YUAN ZHENG, 50, OF VIDEO CONFERENCING PLATFORM ZOOM, WITH WEALTH UP 77% OR US$3.5BN TO US$8BN. ALEX XU HANG, 58, OF LIFE SUPPORT DEVICES AND OTHER MEDICAL EQUIPMENT MANUFACTURER MINDRAY, UP 26% OR US$2.8BN TO US$13.5BN.

CHINA ADDED 6 BILLIONAIRES TO THE TOP 100, INDIA LOST 3 AND USA LOST 2.

‘KING OF LUXURY’ BERNARD ARNAULT OF LVMH LOST US$30BN, THE LARGEST INDIVIDUAL FINANCIAL LOSS OF THE PAST 2 MONTHS, EQUIVALENT TO US$20MN AN HOUR. 10 INDIVIDUALS LOST MORE THAN US$10BN.

MUKESH AMBANI OF RELIANCE LOST US$19BN (INR 133,000 CRORE) TO DROP HIM OUT OF TOP 10. India’s three drop-offs from the Hurun Top 100 were Gautam Adani, down 37% or US$6bn (INR 42,000 CRORE), Shiv Nadar, down 26% or US$5bn (INR 35,000 CRORE) and Uday Kotak, down 28% or US$4bn (INR 28,000 CRORE).

SHARED-ECONOMY PLATFORMS AIRBNB AND OYO BOTH SAW VALUATIONS DOWN. RITESH AGAWAL, 26, OF OYO ROOMS NO LONGER A BILLIONAIRE

JEFF BEZOS STILL WORLD NUMBER ONE, DOWN US$9BN TO US$131BN.

LUCKIN COFFEE SHARE PRICE DROPPED 90% IN LAST WEEK, AFTER SALES FRAUD DISCOVERED. FOUNDERS CHARLES LU ZHANGYAO, 51, AND JENNY QIAN ZHIYA, 43, NO LONGER BILLIONAIRES

LEADING AUTHORITY ON GLOBAL WEALTH RELEASES SPECIAL REPORT ON WEALTH IMPACT 2MTHS AFTER COVID-19 OUTBREAK

6 April 2020, Shanghai, Mumbai and Oxford. Hurun Research today released Wealth Impact 2mths after Covid-19 Outbreak, a special report looking into wealth changes of the world’s most successful entrepreneurs in the two months ending 31 March 2020. This special report follows on from the Hurun Global Rich List 2020, which had a wealth cut-off of 31 January 2020.

Stock markets across the world have dropped significantly in the past two months, with the Dow Jones down 21%, India, France, Germany and the UK down a quarter, Japan down 18% and HK down 10%. The only major stock market to see a gain was China, up 0.2%.

Most currencies weakened against the dollar, with the British Pound down 6.3%, the Indian Rupee down 5.2%, the Chinese Yuan down 2.3% and the Euro down 0.4%.

Only 9% of the Hurun Global Top 100 saw their wealth increase, 86% saw their wealth decrease and 5% were unchanged.

Rupert Hoogewerf, Hurun Report chairman and chief researcher, said “The last two months have wiped out all the wealth made in the past two and a half years, with the World’s Top 100 down 12.6% or US$408bn, equivalent to each of the Hurun Top 100 losing US$75mn a day.”

“China has been the relative winner, with its stock markets weathering the virus better than its US and European counterparts,” added Hoogewerf.  “Prior to the coronavirus outbreak, the world had 2816 ‘known’ dollar billionaires.  Today, two months later, that number is now down by 20%, as stock markets across the world have wiped out wealth.”

Anas Rahman Junaid, MD & Chief Researcher, Hurun Report India, said, “India’s top entrepreneurs have been hit by a 26% drop in the stock markets and a 5.2% drop in the value of the Rupee compared with the US Dollar. For Mukesh Ambani, it has been a perfect storm, with his wealth down 28%.”

Biggest gainers

9 saw their wealth rise in the past two months, all from China.  “Whilst the virus has created a surge in demand around the world for medical equipment manufacturers, lockdown has created a boom in video conferencing for businesses and distance learning for children, as well as, surprisingly, Chinese pork producers,” said Hoogewerf.

Two of the three largest risers from the Hurun Top 100 were Chinese pork producers: Qin Yinglin and wife Qian Ying of Muyuan added US$3bn to take their wealth to US$22bn, and Liu Yonghao of New Hope added US$2.5bn.

Alex Xu Hang saw a surge in demand from around the world for ventilator and life support medical equipment manufacturer Mindray, driving his wealth up 26% or US$2.8bn to US$13.5bn.

Table: Wealth additions in the Hurun Global 100

Source: Hurun Research Institute 2020

Eric Yuan Zheng, 50, of video conferencing platform Zoom, was the biggest gainer of the past two months, seeing his wealth grow 77%, or US$3.5bn to US$8bn.

Other gainers include Li Yongxin and his mother Lu Zhongfang of Chinese civil service test prep platform Offcn, whose wealth was up 20% to US$11.5bn, on the back of better than expected financial results and an online marketing drive during the coronavirus outbreak.

Biggest losers

The biggest losers in the last two months were Bernard Arnault of LVMH, whose wealth was down US$30bn, losing US$500mn a day these past two months. Mukesh Ambani of India energy giant Reliance saw his wealth down 28% or US$19bn, losing over US$300mn a day these past two months.

Table: Wealth drops in the Hurun Global 100

Source: Hurun Research Institute 2020

Biggest big losers include Charles Lu Zhengyao and Jenny Qian Zhiya of China coffee chain Luckin. After a US$300mn sales fraud in Luckin caused the share price to drop by 90% last week, Charles Lu and Jenny Qian both dropped off being billionaires.

Other billionaires who registered big losses, include Zeng Yuqun of e-car lithium battery producer CATL, whose wealth was down 24% to US$10.4bn, Robin Li Yanhong of Chinese search engine Baidu, down 22% to US$8.3bn and Ding Shizhong of sportswear brand Anta, who was down 20% to US$4.2bn.

By country

In the two months to 31 March 2020, China added 6 individuals to the world’s Top 100 billionaires, by far the most of any country. India lost 3 and the USA lost 2. The USA today has 34 in the Top 100, compared with 29 from China.  Two months ago, the USA led with 36, compared with 23 from China.

India’s three drop-offs from the Hurun Top 100 were Gautam Adani, down 37% or US$6bn, Shiv Nadar, down 26% or US$5bn and Uday Kotak, down 28% or US$4bn.

Table: Changes by country for the Top 100

Source: Hurun Research Institute 2020

World’s Top 10

The world’s Top 10, lost a combined US$125bn in the last two months. Walmart shareholders Alice and Jim Walton broke into the Top 10. Three dropped out of the Top 10: Mukesh Ambani was down US$19bn or 28% to US$48bn; Carlos Slim Helu of Mexican telecom giant America Movil, down US$17bn or 24% to US$55bn and Larry Page, down US$13bn or 19% to US$54bn.

Two months ago, there were four who had broken through the US$100bn mark. Today that was just Jeff Bezos, down US$9bn to US$131bn.

Table: Hurun Global Top 10

Source: Hurun Research Institute 2020

Related links

Hurun Global Rich List 2020

https://www.hurun.net/EN/Article/Details?num=775CEFAE8BF8

Hurun Richest Women in the World 2020

https://www.hurun.net/CN/Article/Details?num=76824AC0C3BB

Hurun 40 & Under Self-Made Billionaires 2020

https://www.hurun.net/EN/Article/Details?num=9A660E5EF44A

Hurun Global Real Estate Rich List 2020

https://www.hurun.net/EN/Article/Details?num=CCCB9E3C7369

Hurun Global Education Rich List 2020

https://www.hurun.net/EN/Article/Details?num=8AF475DC1457

About Hurun Report Inc.

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Hurun Report generated 300 million views globally each month on average last year, through putting out quality lists and research.

Established in 1999, Hurun Report Inc. has grown into a leading research platform based in Shanghai and Mumbai, best-known for its China and India rich lists, and with 150 employees today.

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Hurun Global Rich List Top 100 – 2 months since outbreak of Covid-19

Download:

Hurun Global Rich List Top 100 as of 31 Mar 2020.xlsx

Special Report on Wealth Impact 2mths after Covid-19 Outbreak 200406.docx

新闻稿：《疫情两个月后全球企业家财富变化特别报告》20200406.docx