Pursuits
This Chinese Billionaire Has Lost More Than Glasenberg in 2015
- Wang tops Glasenberg as year's worst-performing billionaire
- 'Turn of fortune' brings pressure after $500 million funding
How to Lose a Fortune
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The Chinese billionaire using his personal fortune to help fund a $50 billion Nicaraguan challenger to the Panama Canal has crashed into the bitter reality of equity markets in the world’s second-largest economy.
Telecommunications entrepreneur Wang Jing, 42, was one of the world’s 200 richest people with $10.2 billion at the peak of the Chinese markets in June, according to the Bloomberg Billionaires Index. His net worth has since fallen to $1.1 billion.