Packer’s Fortune Slumps on China’s Casino Clampdown: Chart

James Packer lost $467 million on Monday after Chinese authorities detained 18 employees of the Australian gaming billionaire’s Crown Resorts Ltd. The company’s shares dropped 14 percent, the biggest one-day decline on record, on the latest sign the Chinese government is clamping down on foreign companies trying to woo its citizens to gamble overseas. Packer’s fortune fell 11.7 percent, the largest drop on the Bloomberg Billionaires Index, which declined 0.3 percent Monday.

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