Indian family billionaires lead Asia’s surge, Hong Kong’s suffer reversal

Hong Kong’s old-money families are feeling the chill of China’s downturn. An unprecedented four out of the five Hong Kong dynasties who rank among the 20 richest Asian clans have seen their fortunes erode over the past year, according to Bloomberg. The families — many of whom have substantial chunks of their riches in real estate — are confronting both the slide in the city’s stock market and their exposure to the sustained property crisis in China

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