These guys lost $100bn in a month

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'The losses are truly horrendous'.

It takes an iron stomach to be one of the richest people in China.

Bloomberg News reports that billionaires from China and Hong Kong who rank among the 400 wealthiest people on earth gained $121bn this year through June 12, 2015, when equity markets peaked there.

They lost almost $100bn as shares plummeted this month, including $30bn at the start of the week, before the rally on Thursday and Friday.

'I hope these people realize that it's just paper money', said Niklas Hageback, who helps oversee about $202m at money management firm Valkyria Kapital. 'I hope for their own personal mental health that they have been able to realize that. Otherwise, if you just start to look at your own income statements, the losses are truly horrendous'.

To access the complete Bloomberg News article hit the link below:

China's Richest People Just Lost About $100 Billion in a Month

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