Increased government surveillance unleashed a world of pain for the super-rich in the Chinese capital, who have lost $174.3 billion of their collective wealth since 2021. The loss of 17 billionaires includes Kate Wang, founder of Chinese vaping giant RLX Technology, and Will Wei Cheng, CEO of transportation company Didi Global, whose fortune fell below Billionaire John Paulson the three-comma threshold. A rare winner amid the unrest was Zhang Yiming, the founder of ByteDance, owner of TikTok and Beijing’s wealthiest resident, who is $14.4 billion richer than last year. With 107 billionaires, worth more than $640 billion, the Big Apple is home to more club members with three commas than any other city on the planet.
The billionaire has invested millions in various business and philanthropic projects on the islands, focusing on areas such as local food production, renewable energy and waste reduction. As one of the richest countries in the world, the United States is home to many of the world’s wealthy elite. According to Forbes’ ranking of global billionaires, 15 of the 26 richest people on earth are Americans.
Hughes is also one of the most important conservative political donors in the state. Philip Anschutz has become one of the richest people in the world by investing in various businesses including oil, railways, real estate and entertainment. The Anschutz Entertainment Group owns and operates arenas and stadiums around the world. The Denver native has donated hundreds of millions of dollars to the University of Colorado Medical Center, which is named after him. Advisors ($25.7 billion AUM), gave investors in Incyte (INCY, $78.82) another reason to rejoice.
Adelson is a major political donor, contributing more than $123 million to conservative politicians in the 2018 election cycle, more than any other U.S. citizen. The heirs and co-chairs of Michigan-based supermarket chain Meijer, Hank and Doug Meijer, are the richest people in the state. Meijer, which was founded in 1934 by the Meijers’ grandfather, Hendrik Meijer, has more than 200 locations in the Midwest.
Goodnight founded the analytics software company SAS in 1976 with a faculty member from North Carolina State University. Since then, the company has grown from $138,000 in annual revenue to $3.2 billion. SAS has more than 14,000 employees worldwide and is currently the largest employer in Cary, accounting for approximately 6 percent of the city’s total workforce. Singer’s Elliott Investment Management ($73.5 billion AUM) increased its stake in MPC by 4% in the first quarter. The West Palm Beach, Florida-based hedge fund owned 11.1 million shares worth $946.1 million as of March 31.