"China’s Real Estate Tycoons Lost $100 Billion in the Housing Collapse"

I would have guessed higher, perhaps "everything".

From Bloomberg, April 4:

The runup in mainland property prices minted dozens of billionaires. The sector’s collapse has erased most of that wealth. 

The rise of China’s housing market over the past few decades was responsible for one of the greatest waves of wealth accumulation in history, minting dozens of billionaires and landing at least 10 of them in the ranks of the planet’s 500 richest people. The collapse in Chinese real estate in recent years has been equally efficient—at wealth destruction, erasing more than $100 billion from the fortunes of those tycoons. Here’s where some of them have landed.

Hui Ka Yan
China Evergrande Group
Year founded: 1996
Role: Founder and chairman 

Hui, who once had virtually unlimited clout with politicians and controlled an empire spanning real estate to electric vehicles, is in police custody, and a creditor has seized two of his mansions on Hong Kong’s posh Victoria Peak. Chinese securities regulators say that in two years through 2020, Hui and others at Evergrande fraudulently inflated the company’s revenue by $78 billion, which would make it one of the biggest scams ever.

Wang Jianlin
Dalian Wanda Group
Year founded: 1988
Role: Founder and chairman 

After shedding much of his entertainment empire and a stake in Spanish soccer club Atletico Madrid in recent years, Wang in December agreed to cede control of his shopping mall unit as part of an $8.3 billion deal to avoid the wrath of investors. The agreement with backers who had been expecting to cash out after an initial public offering comes as a lifeline for Wang, who was once China’s wealthiest man, but it means the outsiders will now hold a 60% stake in the Wanda unit that manages nearly 500 megamalls in 230 cities across China.

Yang Huiyan
Country Garden
Year founded: 1992
Role: Chair 

The company roiled markets in October when it defaulted on its dollar debt, but for months Country Garden managed to keep paying its yuan-denominated bonds. A sales drought for the builder, though, has worsened, with March contracts plunging 83% from a year earlier, versus a 75% slide in January. In March, Country Garden missed a yuan payment for the first time and said it faced a delay in reporting its financial results, adding to Yang’s woes as her company faces an offshore lawsuit seeking its liquidation....

...MUCH MORE