Hong Kong's Richest Woman Loses Half Her Wealth on Stock Plunge
- Pollyanna Chu is about $6 billion worse off since January
- FTSE Russell has removed her company from its indexes
This article is for subscribers only.
Pollyanna Chu has lost her title as Hong Kong’s richest woman after her listed company turned into Asia’s worst performer this year.
Worth almost $12 billion as recently as January, she’s seen more than half of her wealth wiped out as the stock crashed. Kingston Financial Group Ltd., which operates businesses including Macau casinos and margin lending, has tumbled 50 percent since Hong Kong’s securities regulator in January warned investors that the company’s shares were overly concentrated among a small number of stockholders.