SHANGHAI :
Forbes Rich List for a Sick Year: Chinese Pig Breeder Rallies, Most Lose Money
Zhang Yushuo
DATE:  Apr 08 2020
/ SOURCE:  Yicai
Forbes Rich List for a Sick Year: Chinese Pig Breeder Rallies, Most Lose Money Forbes Rich List for a Sick Year: Chinese Pig Breeder Rallies, Most Lose Money

(Yicai Global) April 8 -- MuyuanFoodstuff's chief Qin Yinglin has become the world's richest pig breeder while diseases such as African swine flu and Covid-19 have ravaged Forbes's latest billionaires list.

Qin gained the most as his fortune more than quadrupled from a year earlier to USD18.5 billion due to the rising prices of equity and pork, claiming the No. 43 spot, according to the US business magazine's annual list published yesterday. The data is a snapshot from March 18.

That day, the world had 58 fewer billionaires than a year earlier at 2,095 people as the whole world grapples with the Covid-19 epidemic. Some 51 percent of those who remain part of the club were poorer this year as the group had lost USD700 billion in total.

But some strive in chaos. The list contained 178 newcomers, and nearly half of them from China. The group includes Zoom Video Communications’ founder and Chief Executive Eric Yuan, Will Semiconductor's founder Yu Renrong, baby milk producer China Feihe's Chairman Leng Youbin, as well as Ruan Liping and Ruan Xueping, the founders of China's largest socket maker Bull Group.

With USD113 billion, Jeff Bezoswas ranked as the world’s wealthiest person for the third year in a row, despite his costly divorce. Amazon's shares have recovered from their one-year low logged on March 12 as the US e-commerce giant has responded to the Covid-19 epidemic by hiring more workers to deal with the surge in demand.

Bill Gatesheld onto his spot at No. 2, followed by LVMH Moet Hennessy Louis Vuitton's Chairman Bernard Arnault who replaced Warren Buffett as the No. 3 for the first time.

In China's mainland, Alibaba Group Holding's founder Jack Ma was the richest with USD38.8 billion, claiming the 17th global spot. But Tencent Holdings's Ma Huateng was hot on his heels with USD38.1 billion, at No. 20.

US President Donald Trump had lost a third of his fortune in less than a month as his wealth tallied USD2.1 billion, falling down the list to No. 1,001.

The US had the biggest number of billionaires with 614 entrants while China is second with 389 people, followed by Germany, India, and Russia.

Editor: Emmi Laine

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Keywords:   Forbes,Billionaire,Covid-19