Tencent's Pony Ma (left) and Alibaba's Jack Ma (right) lost $3.7 billion collectively, on Monday.Wang Zhao/AFP/Getty Images The 13 richest people in China lost $12.7 billion on Monday alone, per Bloomberg. Their losses were due to a massive market sell-off over President Xi Jinping's third term in office. Investors fear the economic fallout from Xi's Covid-zero stance and 'common prosperity' agenda. The richest people in China lost billions in just one day, following a massive market sell-off which sent Hong Kong shares down to their 14-year lows on Monday, according to the Bloomberg Billionaires Index.