2015 a turbulent year for Chinese billionaires

Wang Jianlin, chairman of Wanda Group, poses at the listing ceremony for the shares of Dalian Wanda Commercial Properties Co Ltd at the Hong Kong Stock Exchange in Hong Kong, China, Dec 23, 2014. [Photo / IC]

The past year was a wild one for China's billionaires as more than 50 new billionaires were minted in the first half of 2015 and only 19 of them remained billionaires in August, according to the Bloomberg Billionaires Index.

On Jan 1, 2015, there were 23 Chinese billionaires with a combined net worth of $205 billion on the index, which is compiled by Bloomberg everyday to measure the net worth of the 400 richest people on the planet based on action in the stock market, economic indicators and news reports. At the May 27 peak there were 31 with a combined $348 billion. On Dec 28 there were 28 billionaires with $256 billion.

In 2015, many of the world's richest individuals have seen their fortune shrink dramatically. According to Bloomberg, the world's 400 wealthiest individuals saw a total of $19 billion wiped off their fortune last year.

Mexican telecommunications mogul Carlos Slim was the biggest decliner on the index as his company plunged in 2015. In May 2013, Slim was the world's richest person. But since then he's fallen to No. 5 after losing nearly $20 billion.

Microsoft co-founder Bill Gates saw his fortune nose dive by $3 billion, according to the Bloomberg Billionaires Index. Despite the loss, Gates remains the world's richest man. US investor Warren Buffett, the world's third-richest person, lost just over $11.3 billion.

But not everyone is getting poorer. Amazon.com Inc. founder Jeff Bezos more than doubled his fortune to $59 billion as investors cheered profits at the world's largest online retailer.

China's richest man Wang Jianlin, founder of China's largest property developer Dalian Wanda, saw his 2015 fortune balloon from $11.7 billion to $36.9 billion. Wang was ranked 13th earning the title as the richest man in Asia, followed by Hong Kong tycoon Li Ka-shing and Alibaba chairman Jack Ma.

The world's 400 richest people control a combined $3.9 trillion, which is more than the GDP of every country on Earth except the US, China, and Japan.

At their May 18 peak, the billionaires had almost $4.3 trillion, a $267 billion increase from Jan 1, 2015. In August they lost those gains and more when a global sell-off claimed as much as $182 billion in a week.