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Chinese mogul behind Nicaragua canal lost 85% of his fortune in stock market

Discussion in 'Market News' started by Lily, Oct 7, 2015.

  1. Lily

    Lily Forum Member

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    Net worth of telecoms tycoon Wang Jing has plummeted from $10.2bn in June to $1.1bn, casting doubt on building of 178-mile canal

    Fresh doubts have arisen over a Chinese billionaire’s plan to build a $50bn (£33bn) interoceanic canal through Nicaragua after it emerged that China’s stock market crisis wiped out nearly 85% of his fortune.

    Wang Jing, the Chinese telecoms tycoon behind the gargantuan shipping project, has seen his net worth plummet since his country’s stock market meltdown began, according to the Bloomberg Billionaires Index.

    Related: Land of opportunity – and fear – along route of Nicaragua’s giant new canal

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