BIGGEST WINNERS: JEFF BEZOS OF AMAZON SAW WEALTH SHOOT UP INR 1,51,000 CRORE TO INR 12,08,200 CRORE IN 4MTHS SINCE COVID-19 OUTBREAK. ANOTHER E-TAILER HUANG ZHENG, 40, OF CHINESE ECOMMERCE GIANT PINDUODUO, WAS SECOND BIGGEST WINNER, UP INR 1,28,400 CRORE, DOUBLING WEALTH TO INR 2,64,300 CRORE. BEZOS ADDED INR 53 CRORE AN HOUR EVERY HOUR FOR THE PAST FOUR MONTHS
GIOVANNI FERRERO, 55, SCION OF ITALIAN CHOCOLATE PRODUCERS THAT MAKE KINDER SURPRISE, NUTELLA AND FERRERO ROCHER, SAW WEALTH RISE INR 60,400 CRORE TO INR 3,17,200 CRORE
ELON MUSK, 48, UP INR 52,900 CRORE TO INR 4,00,200 CRORE, ON BACK OF TESLA SHARE RISE TO BECOME WORLD’S MOST VALUABLE CAR COMPANY
BIGGEST WINNERS OF COVID-19 FROM HURUN TOP 100 WERE ONLINE RETAILERS, PHARMACEUTICALS AND HOME IMPROVEMENT RETAILERS AS WELL AS CHOCOLATE, SOYA SAUCE AND PORK PRODUCERS
fastest increase: CHINA-BORN ERIC YUAN ZHENG, 50, OF POPULAR CALIFORNIA-BASED VIDEO CONFERENCING APP ZOOM SAW WEALTH TRIPLE FROM INR 34,000 CRORE TO INR 98,200 CRORE, UP FROM 555th TO TOP 150 IN WORLD
“even after his divorce, Jeff Bezos is INR 4,53,100 CRORE richer than BILL GATES, the BIGGest ever difference between the world’s Top Two,” said Hoogewerf.
WORLD’S TOP 100 BILLIONAIRES CLAW BACK ALMOST ALL LOSSES IN SECOND TWO MONTHS OF COVID OUTBREAK, AFTER INR 30,80,900 CRORE LOSS IN FIRST TWO MONTHS. DOWN ONLY 2% IN FOUR MONTHS
‘VACCINE KING’ CYRUS POONAWALLA OF SERUM INSTITUTE OF INDIA, UP 25% AND 57 PLACES TO INR 1,13,300 CRORE AND 86TH PLACE, ON BACK OF COVID-19 VACCINE DISTRIBUTION AND MANUFACTURING POTENTIAL
V-SHAPED RECOVERIES: MUKESH AMBANI OF RELIANCE SAW WEALTH BOUNCE BACK INR 1,35,900 CRORE IN LAST TWO MONTHS, AFTER LOSING INR 1,43,500 CRORE IN FIRST TWO MONTHS AFTER OUTBREAK, TAKING HIM TO 8TH PLACE IN THE WORLD. SIMILARILY, MARK ZUCKERBERG SAW WEALTH DROP INR 98,200 CRORE IN FIRST TWO MONTHS OF OUTBREAK, BUT THEN CLAW BACK INR 98,200 CRORE, TO TAKE HIM TO 4TH IN THE WORLD.
BY COUNTRY, USA HAS 36%, UP 1%, OF THE HURUN GLOBAL TOP 100, FOLLOWED BY CHINA ON 24%, UP 2% ON FOUR MONTHS AGO.
BIGGEST LOSERS: WARREN BUFFETT AND BERNARD ARNAULT LOST INR 1,35,900 CRORE EACH, FOLLOWED BY CARLOS SLIM DOWN INR 1,28,400 CRORE EQUIVALENT TO INR 45 CRORE AN HOUR OVER 4MTHS. 14 INDIVIDUALS LOST MORE THAN INR 37,800 CRORE.
OTHER BIG RISERS INCLUDE CHINESE ‘SOYA SAUCE KING’ PANG KANG, 58, OF HAITIAN, UP 36% OR INR 30,200 CRORE TO INR 1,13,300 CRORE.
LEADING AUTHORITY ON GLOBAL WEALTH RELEASES SPECIAL REPORT ON WEALTH IMPACT 4MTHS AFTER COVID-19 OUTBREAK
23 June 2020, Shanghai, Mumbai and Oxford. Hurun Research today released Wealth Impact 4mths after Covid-19 Outbreak, a special report looking into wealth changes of the world’s most successful entrepreneurs in the four months ending 31 May 2020. This special report follows on from the Wealth Impact 2mths after Covid-19 Outbreak looking into wealth changes in the two months ending 31 March 2020 and the Hurun Global Rich List 2020, which had a wealth cut-off of 31 January 2020.
Stock markets across the world dropped significantly in the first two months after the outbreak but clawed back some of the losses in the second two months. India, the UK and France were down around 20%, with the NYSE, Japan, HK and Germany down around 10%. Mainland China’s stock exchanges were down slightly at 4%, whilst the only major stock market to see a gain was NASDAQ, up 4%.
The British Pound and Indian Rupee were down 5.6% down 5.3% against the dollar, whilst the Chinese Yuan and Euro were up 2% and 1%.
In the four months since the outbreak, 60% of the Hurun Global Rich List Top 100 saw their wealth rise or stay the same, whilst 40% were down. Rupert Hoogewerf, Hurun Report chairman and chief researcher, said “Whilst the first two months of the outbreak saw a massive wealth wipeout of the Hurun Global Top 100, the second two months saw a V-shaped recovery for two thirds of the Hurun Global Top 100, reminding us that it is dangerous to bet against the world’s best wealth creators.”
“The two biggest ‘winners’ from the Hurun Top 100 of Covid-19 were online retailers Jeff Bezos of Amazon and Colin Huang Zheng of Chinese low-end ‘social shopping’ giant Pinduoduo, who added INR 1,51,000 crore and INR 1,35,900 crore to their fortunes, pretty much all the gains coming in the past two months. For Bezos and Huang, Covid-19 has seen their wealth increase in the shape of a ‘Nike tick’”, added Hoogewerf. “Another big winner was Eric Yuan Zheng, 50, of popular video conferencing app Zoom, who saw his wealth triple from INR 34,000 crore in January to INR 98,200 crore today, propelling him up from 555th in the world four months ago to knocking on the door of the world’s Top 100 today.”
“Having finished the “world’s fastest billion dollar fund raise” in the technology sector, Mukesh Ambani gained all the wealth he lost before the Janta Curfew. India could be playing a very impactful role in fighting corona virus through Dr Cyrus Poonawalla run Serum Institute of India. Since last 4 months, Dr. Poonawalla has gained almost 25% to register a wealth of INR 1,13,300 crore. Foreign investors’ belief in India’s telecom potential and leadership in biotech were displayed during the 4 months post Covid-19”, said Anas Rahman Junaid, MD and Chief Researcher, Hurun India.
The biggest losers in the last four months were Bernard Arnault of LVMH and Warren Buffett, each down INR 1,35,900 crore, followed by Carlos Slim Helu down INR 1,28,400 crore and Amancio Ortega of Inditex down INR 1,05,700 crore. Hoogewerf said “Bernard Arnault and Warren Buffett were the biggest losers, down INR 1,35,900 crore each over the past 4mths. For Arnault it could have been a lot worse, since he was down INR 2,26,500 crore in the first two months after the outbreak, but managed to claw back INR 90,600 crore in the following two months.”
As a category, investors made the biggest losses. Sheldon Adelson of Las Vegas Sands saw his wealth drop INR 52,900 crore, on the back of poor performance of his casinos since the outbreak.
In the four months to 31 May 2020, China added 3 individuals to the world’s Top 100 billionaires, with the USA, Russia and Italy each adding one. The USA today has 39 in the Top 100, compared with 26 from China. “China has narrowed the gap with the USA at the top of the Hurun Global Rich List, from 13 down to 11.”
World’s Top 10
Jeff Bezos of Amazon and Steve Ballmer of Microsoft were the only two from the Hurun Global Top 10 to see their wealth increase.
Wealth Impact 2mths after Covid-19 Outbreak
Hurun Global Rich List 2020
Hurun Richest Women in the World 2020
Hurun 40 & Under Self-Made Billionaires 2020
Hurun Global Real Estate Rich List 2020
Hurun Global Education Rich List 2020
About Hurun Report Inc. and Hurun India
Promoting Entrepreneurship through Quality Lists and Research
Hurun Report generated 300 million views globally each month on average last year, through putting out quality lists and research.
Established in 1999, Hurun Report Inc. has grown into a leading research platform based in Oxford, Shanghai and Mumbai, best-known for its China and India rich lists, and with 150 employees today.
Hurun Research Institute ‘World’s Largest Rich List Provider’
These past twenty years have seen the fastest wealth creating period in the history of the world.
In India, Hurun Research has launched the Hurun India Rich List for the seventh time last year, and has an active events business there.
Other lists Hurun puts out include: the Hurun Richest Self-Made Women in the World has been highlighting for over ten years the fact that over 70% of the world’s most successful women in business herald from China, ie Chinese are completely dominant in the world of women in business.
The Hurun India Philanthropy List ranks the most generous individuals in India and is now in its 6th anniversary. Indians give much more generously than many have previously understood and education is the most preferred cause.
‘World Authority on the Indian High Net Worth Individual’
Recent research partners include financial institutions (IIFL Wealth, Kotak Wealth, Edelgive, Barclays Private Clients), local government (Kerala) and Global 500 multinationals (Marriott, Volvo, Lamborghini).
The Hurun Art List ranks the top artists alive today in India for the 2nd year and has become a household name amongst artists.
Media and Events ‘The Hurun brand gets 100 million views a month in India’
The Hurun brand has become one of the few media brands to become a household name across China and India.
Hurun Media monetizes 2 million views a month in China, through its wechat, weibo, website and legacy magazine.
Recent themed events include blockchain, fintech and 30 under 30, with industry-respected awards. We deliver 100+ events a year globally, with 200+ entrepreneurs from the Hurun China and India Rich List attending.
Hurun Report does events across the world. In the last year, Hurun Report has held events in Toronto, New York, LA, London, Paris, Istanbul, Luxembourg, Sydney and Singapore. Hurun Report’s mission is to create the world's largest platform of China gatekeepers.
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