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 led globally in wealth loss with a $4.2 billion decline. His fortune shrunk 6.9% to $56.2 billion, ranking 34th in the world, according to real-time data by Forbes.

The CEO of investment giant SoftBank Group posted a wealth loss after the company’s stock dipped 5.24% on Tuesday morning, having fallen almost 15% in the last five sessions.

SoftBank, which has stakes in Apple, Qualcomm and OpenAI, has been among AI-related stocks that have weakened this month amid concerns of high debts.

Chinese battery tycoon Robin Zeng posted the second-largest wealth loss in the world, losing $2.4 billion in his fortune.

Zeng’s net worth dropped 5.3% to $43.3 billion, ranking 47th globally. He is the chairman and CEO of Contemporary Amperex Technology (CATL), the world’s largest battery maker.

The company’s shares fell 2.6% Tuesday, having fallen 31% year-to-date. It is now 35% pricier in Hong Kong than on the mainland bourse, down from June’s record premium of roughly 60%, according to Bloomberg.

Southeast Asia’s richest man Pham Nhat Vuong ranked fifth in wealth loss with $1.4 billion wiped off his fortune.

His net worth dropped 4% to $32.4 billion shares of his company Vingroup tumbled to the lowest in two months on Monday.

Vingroup shares have been on a downward trend since they reached a historic peak in early September amid the company’s expansion in electric car production and investment in key infrastructure projects in Vietnam, including metro lines and high-speed rails.

Other major wealth losers in the world on Tuesday were French fashion tycoon Bernard Arnault, whose wealth fell $1.9 billion to $119 billion.

American stock brokerage tycoon Thomas Peterffy’s net worth dropped $1.5 billion to $94.8 billion.