AI summary
Summary of article:
The decline in global technology stocks has led to a sharp decline in the wealth of Asia’s richest people. The families of Masayoshi Son, Zhang Qiansheng and Lee Jae-yong suffered the most losses. The market remains under pressure as the United States may slow down the construction of data centers.
Global technology stocks are under selling pressure,Huida (NVIDIA CEOJen-Hsun Huang As a result, he dropped out of the top ten richest people in the world. Asian companies also suffered huge losses and the net worth of many of Asia’s richest people declined significantly.
The combined wealth of the 22 billionaires from China, Japan, Taiwan and South Korea, among the world’s top 500 richest people, declined by more than US$21 billion as of 10 a.m. Taiwan time, according to Bloomberg Billionaires Index estimates, and their losses subsequently narrowed to more than US$18 billion. These reduced the combined wealth of Samsung Electronics’ Lee Jae-yong, his mother and sister by about US$2.5 billion.
Bloomberg data shows that as of the day ending on the 6th, the net worth of SoftBank Group founder Masayoshi Son decreased by approximately US$2.3 billion to nearly US$33 billion, causing huge losses; The wealth of Zhang Qiansheng, Singapore’s richest man and founder of ASE Investment Holdings, declined by US$1.6 billion to about US$19.6 billion; The net worth of Wang Weixiu, honorary chairman of Innolight, a leader in mainland optical communication modules, dropped by US$1 billion to US$12.9 billion.
In Taiwan, Hon Hai Group founder Terry Gou and TSMC founder Zhang Zhongmou both lost US$100 million in assets on the 6th; MediaTek Chairman Tsai Ming-chi’s wealth declined by US$600 million and Chuanhu Technology founder Lin Chongji’s net worth declined by US$800 million.
The market expects that the US Senate and House of Representatives, controlled by the Democratic Party, will try to slow down the construction of data centers, which has become one of the factors driving the decline in Asian technology stocks. Earlier, the market value of Nasdaq 100 index constituent stocks totaled US$2.3 trillion, setting a one-day record.
Among the wealthy whose net worth did not decline but increased on the day included Pham Nhat Vang, founder of Vietnam’s Vingroup (increased by US$500 million), the family of Zhang Shipping, the late chairman of China Hongqiao Group (increased by US$700 million), and the eldest grandson of Guo Zijun, founder of Hong Kong’s Sun Hung Kai Properties (increased by US$300 million).
Summary FAQ
-
According to the Bloomberg Billionaires Index, the combined wealth of 22 Asian billionaires once decreased by more than US$21 billion, and still lost nearly US$18 billion, showing that the decline in technology stocks has clearly affected Asia’s high-net-worth groups.
-
Major losses included Masayoshi Son’s loss of about US$2.3 billion, Zhang Qiansheng’s loss of US$1.6 billion, Wang Weixiu’s loss of US$1 billion, and Taiwan’s Tsai Ming-chi and Lin Chongji’s loss of US$600 million and US$800 million, respectively.
-
The market is worried that the Democratic-controlled U.S. Senate and House of Representatives will try to slow down data center construction, which would be detrimental to related technology demand. In addition, the value of Nasdaq 100 stocks has declined by US$2.3 trillion, and the pressure continues.
