3 Asian billionaires among world’s 5 biggest single-day weath losers
Three Asian billionaires from Japan, China and Vietnam were among the five biggest wealth losers in the world on Tuesday morning.
Japan's second-richest man, Masayoshi Son, suffered the highest single-day wealth loss among Asian billionaires, with a $4.2 billion decline. His fortune contracted 6.9% to $56.2 billion, placing him 34th globally, according to Forbes' real-time data. This loss came after SoftBank Group's stock dropped 5.24% in early trading, falling nearly 15% over the past five sessions. SoftBank, invested in companies like Apple, Qualcomm, and OpenAI, has been among AI-related stocks weakened this month due to high debt concerns.
Chinese battery magnate Robin Zeng experienced the second-largest wealth loss globally, shedding $2.4 billion. Zeng's net worth fell 5.3% to $43.3 billion, ranking 47th worldwide. As the CEO of Contemporary Amperex Technology (CATL), the world's largest battery producer, his company's shares fell 2.6% on Tuesday, having declined 31% year-to-date. CATL's stock now trades at a 35% premium in Hong Kong compared to mainland China, down from June's record premium of around 60%, Bloomberg reports.
Southeast Asia's wealthiest individual, Pham Nhat Vuong, ranked fifth in wealth loss, losing $1.4 billion. His net worth dropped 4% to $32.4 billion, with Vingroup's shares hitting their lowest point in two months on Monday. Vingroup's shares have been in a downward trend since peaking in early September, driven by the company's expansion in electric car production and investments in key infrastructure projects like metro lines and high-speed rails in Vietnam.
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