The worst monthly slump in Chinese stocks in two years wiped away more than US$34 billion ($50.8 billion) in combined net worth of the richest people in China and Hong Kong in June.
Of those 45 wealthy people on the Bloomberg Billionaires Index, more than 80 per cent lost money as the Shanghai Composite Index tumbled.
"The fortunes of billionaires are closely tied to the rise and fall of stocks," said Zhang Lu, a Shanghai-based analyst at Capital Securities Corp.
Zhou Qunfei, chairwoman of Lens Technology, saw her wealth shrink the most among all Chinese billionaires. Her fortune shrank by US$4.8 billion in June as Shenzhen-listed Lens Technology tumbled 36 per cent. Zhou became the country's richest woman after the maker of mobile-phone glass covers went public in March.
The fortune of Wang Jing, chairman of Beijing Xinwei Telecom Technology, dropped from US$9.5 billion at the end of May to US$6.9 billion.
