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Chinese tycoons lose US$34b as China stock market slumps

MR WANG: Fortune of Beijing Xinwei Telecom Technology's chairman dropped to US$6.9 billion.

MR LEE: The property tycoon lost US$1.5 billion, paring his fortune to US$19.3 billion.

Hong Kong

THE worst monthly slump in Chinese stocks in two years wiped away more than US$34 billion in combined net worth of the richest people in China and Hong Kong in June.

Of those 45 wealthy people on the Bloomberg Billionaires Index, more than 80 per cent lost money in June...

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