2008 also marked a decline in the number of billionaires that made the list. In 2007 there were a record 66 billionaires on the list and 2008 saw only 24. Changes in numbers marked changes in losses, too. Last year's richest person, Yang Huiyan, lost the most in 2008, losing $14 billion to settle at $2.2 billion in net worth. While she lost the most of anyone, she still managed to rank third on the 2008 list.

Many individuals who ranked on last years list have lost over half of their wealth in recent months. Government intervention on credit lending, a pending US recession, and steady global economic decline have resulted in losses in many sectors of China's economy. As a result, 2008 marked one of the slowest years of growth for China in recent history. Experts expect tighter credit lending and slow growth to affect smaller businesses more so than larger corporations.

But even in tough economic times, some of China's business men and women have managed to thrive. Liu Yongxing, an agricultural feed entrepreneur, tops this years list with a net worth of $3 billion. Another big winner, Zhou Chengjian who owns the clothing company Shanghai Metersbonwe Fashion & Accessories, jumped 351 spots from the 2007 list after he listed his company in August, setting his net worth at $2 billion.

Other top spots on the 2008 list include Wong Kwong Yu, Liu Yonghao, Zang Jingdong, and Robin Li. Net worth was calculated based on the individuals assets as of October 17, 2008.



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