Atlético Madrid Shareholder Wang Jianlin Loses $3.6B In Chinese Stock Market Crash

Asia's "richest person," Chinese tycoon Wang Jianlin, was the "largest loser in Monday's stock market crash in China," according to David Hellier of the London GUARDIAN. Wang, who holds a 20% stake in Atlético Madrid, lost $3.6B on Monday, according to the Bloomberg Billionaires Index. He saw $2B "wiped from his stake" in Dalian Wanda commercial properties and lost nearly $1B from his Wanda Cinema Line, the world's largest cinema operator. Even "after Monday's decline," Wang's fortune stood at $31.2B, according to data compiled by Bloomberg. Elsewhere, Hong Kong resident Li Ka-shing, whose interests span from shipping to the Three mobile network in the U.K., lost $1.5B in Monday's selloff. The third richest man in Asia, Jack Ma, founder of ecommerce group Alibaba, lost $546M, according to Bloomberg, but retains a net worth of $29.6B (GUARDIAN, 8/25).