The Richest Guy in Asia Loses $3.6 Billion in the Market Rout

Asia’s richest person lost $3.6 billion on Monday, the most among all billionaires worldwide, as China’s stock markets had the biggest plunge since 2007 and a wave of selling spread across the globe.

Wang Jianlin saw $2 billion wiped from his stake in Dalian Wanda Commercial Properties Co., according to the Bloomberg Billionaires Index, after it tumbled 17 percent to its lowest level since it went public in December. Wang also lost nearly $1 billion from his Shenzhen-traded Wanda Cinema Line Co., which fell by the exchange-exposed limit of 10 percent on Monday. The remaining losses stemmed from stakes in private companies, according to data compiled by Bloomberg.