China's super rich population drops as tech crackdown, global factors hurt wealth

China's super rich population drops as tech crackdown, global factors hurt wealth

FILE PHOTO: Jack Ma, billionaire founder of Alibaba Group, arrives at the "Tech for Good" Summit in Paris, France May 15, 2019. REUTERS/Charles Platiau/File Photo/File Photo/File Photo

More than 400 people lost their billionaire status last year, most from China, as global monetary tightening, COVID-19 disruptions and Beijing’s crackdown on major tech companies hurt the super wealthy, a ranking of the world’s wealthiest showed.