Cybersecurity
China Surveillance Tycoons Lose Billions From Threat of U.S. Sanctions
- Fortunes of Hikvision and Dahua billionaires have tumbled
- Losses deepened Wednesday on reports of potential blacklisting
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Escalating tensions between Washington and Beijing are wiping billions from the net worth of China’s richest surveillance tycoons.
The billionaires behind Hangzhou Hikvision Digital Technology Co. and Zhejiang Dahua Technology Co. have watched their combined fortunes sink by more than $8 billion since March 2018 as shares of both companies sank on speculation of potential U.S. sanctions. The losses deepened on Wednesday after reports that Donald Trump’s administration is considering blacklisting the surveillance giants, in part because of their alleged role in human rights violations.