The world’s billionaires hail from all over the globe, with citizens of 75 countries or territories on six continents claiming a spot on Forbes’ 36th annual billionaires list. In all, we found 2,668 ten-figure fortunes this year–down from 2,755 last year.

The biggest reason for the drop? China has had on-and-off Covid-19 outbreaks disrupting the supply chain and manufacturing, while Chinese heavyweight listings crashed amid concerns about regulation of tech companies and Beijing’s ties with Russia. Some of China’s biggest losers include former chairman of Pinduoduo Colin Huang, chair of internet giant Tencent Holdings Ma Huateng and Jack Ma of Alibaba. With 539 billionaires — down 87 since last year — with a collective nearly $2 trillion, China is still the country with the second-most billionaires.

Another country shedding billionaires: Russia. President Vladmimir Putin’s invasion of Ukraine–and the swift backlash of the international community–sent Russian markets into a freefall in February. There are 34 fewer Russian billionaires this year, as share prices cratered, the ruble plummeted in value and sanctions hit Russian oligarchs’ assets. The collective wealth of the country’s billionaires has fallen from $584 billion last year to $320 billion this year. Some of the biggest losers include oil magnate Vagit Alekperov and Alexey Mordashov, previously the richest person in Russia.Read the full story on Forbes:

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