Beauty Products Make Female Scientist China’s Newest Billionaire

The couple’s rise contrasts with most of their Chinese peers. The nation’s billionaires part of the world’s 500 richest people have lost almost $240 billion combined this year, according to the Bloomberg index. In addition to Xi’s crackdowns, the market for initial public offerings, which at one point produced one billionaire a week in China, has slowed dramatically due to the impact of Covid disruptions, restricting one big source of wealth creation.