Volatile equity markets and property cooling measures stripped fifty-five Asia-Pacific billionaires of their status last year, including 36 Chinese and nine
Indians, according to Forbes.

Although new member numbers were up by 38, the region’s
billionaire pool was down by 17 overall.

Asia now has 315 billionaires, which still puts it ahead of Europe. Forty-five percent of the region’s names hail from China and
India, accounting for 41 per cent of the wealth. Greater China continues to be the
biggest source of new members. Of the 38
additions in Asia, 15 are from the mainland and five from Hong Kong.

Among the fallen are Indian property baron Ramesh
Chandra of Unitech and Chinese developers Qi Jinxing of Hangzhou Binjiang and
Hopson’s Chu Mang Yee, whose shares dived amid efforts to cool the property
market in Hong Kong and mainland China, said the report.