Deals
Billionaires' Fortunes Are Being Wiped Out in China's IPO Frenzy
- Booming IPOs create 23 billionaires, but fortunes often fade
- Share-price volatility fuels risk for equity-backed loans
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It took just three weeks for Ding Lieming to quintuple his net worth and become a freshly-minted billionaire. Six months later, almost half his fortune was gone.
A tale of bold bets gone bad? Nope, just business as usual in the Chinese stock market.