Those listed as the wealthiest -- with holdings worth at least 2 billion yuan -- fell to 1,819 this year, down from 1,893 last year, according to data compiled by the Hurun Report.
Traditional sectors such as manufacturing and real estate have suffered as companies "caught up in too much debt" have started shedding assets, affecting their founders' net worth, Hoogewerf added. But real estate tycoon Wang Jianlin -- one of China's richest men, who topped the list in 2017 -- saw his wealth nearly halve to $17 billion.
"Colin Huang has created a world first, making $20 billion since founding Pinduoduo just four years ago," Hoogewerf said.Eleven people born in the 1990s also made the list.But despite the changing face of the rich list, China's super-wealthy were largely unaffected by a bruising trade war between Beijing and Washington, the study said.
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