China's tycoons lost $45 BILLION in June as stock market tumbles

The worst monthly slump in Chinese stocks in two years wiped away more than $US34 billion ($45 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 in June 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. "When the market is more unstable, like now, their fortunes go down."


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