Pursuits
China’s Richest Win, Mexican Billionaires Lose With Trump Effect
World’s 500 largest fortunes rose 5% since Nov. 8 election in the U.S., lagging increases of Dow and S&P.
Moscow, Russia.
Photographer: BloombergThis article is for subscribers only.
Not even Donald Trump can put the brakes on China’s wealth-creation machine.
The 36 Chinese billionaires on the Bloomberg Billionaires Index have increased their wealth by 13.2 percent since the real estate mogul was elected U.S. president on Nov. 8, a $39.2 billion increase that’s pushed their combined net worth to $336 billion. The gains top those seen by billionaires in any other country outside the U.S., even as Trump has called China a currency manipulator whose trade policies have led to the loss of American jobs.