After the Chinese equity slump triggered a global equity rout, putting global markets into panic-selling mode, the world’s 400 richest people saw $124 billion wiped off their collective fortunes.

Wang, chairman of the Dalian Wanda Group, China's largest real estate developer, saw his net worth fall to a still staggering $34.8 billion, according to the index, as Hong Kong-listed Dalian Wanda Commercial Properties slid 17 per cent to its lowest level since the group's property division went public in December.

In addition, Wang lost almost $1 billion from his Shenzhen-traded Wanda Cinema Line, also part of the Dalian Wanda Group, which fell 10 per cent on Monday. After Wang, Bill Gates suffered the next biggest loss, of $3.2 billion, followed by Warren Buffet, who lost $2 billion.