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> Economy

How one of China’s richest lost 15 bn. USD in an hour

The stock trade was frozen due to the imminent presentation of confidential information on the company

Newsroom May 23 03:11

Li Hejun, one of the richest men in China and president of Hanergy (solar panel company) saw his company and fortune wrecked when his stocks plummeted by 47% within just an hour of trading in the Hong Kong stock market.

 

The value of his company thus dropped by 18.6 billion USD and his personal fortune was diminished by 15 billion, according to CNBC.

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