Chinese Billionaires, Mas Lalong Yumaman sa Kabila ng COVID-19 Pandemic

The coronavirus pandemic has disastrous effects not only on the health care system but to the world economy as well. Ever since the coronavirus dominated most countries, more and more billionaires are losing their fortune. Most countries with high cases of COVID-19 have already undergone a lockdown, which also means that business operations were halted.

According to the Youtube channel World is One News (WION), the top 100 billionaires in the world lost more than $400 billion combined in just under two months. If the coronavirus outbreak will go on for many months, this loss is expected to grow higher.

Among those who are losing a fortune is Mukesh Ambani, the richest man in India. From being included in the top 10 richest men in the world, Ambani is now down to the 17th spot. He's reportedly losing $300 million every day because of the pandemic, and his wealth has tanked 28%.

One of the world's youngest billionaires, Ritesh Agarwal, fell from the top 100 richest people in the world. The Indian CEO of Oyo Rooms is losing revenue as most of his customers are from China. His company's evaluation has dropped from $10 billion to $6 billion.

But in spite of all these massive losses, some businessmen are also gaining profit from the COVID-19 pandemic. China has added 6 billionaires to the world's richest list. Most of them own companies that produce medical equipment and accessories.

Among them is Eric Yuan, founder of the video conferencing app Zoom, which is now worth more than $8 billion dollars. Alex Xu of Mindray also saw an increase of $14 billion in just two months. Tencent founder Ma Huateng's net worth is already at $44.6 billion.

What are your thoughts about this? We'd love to hear from you, so don't hesitate to share your thoughts with us in the comments section below. For more updates on the latest happenings, feel free to follow us on Facebook.