BUSINESSMay 26 · 09:08 UTCSCMP CHINABrian Rhoads

China online brokerage crackdown trims billionaire owner’s wealth

Chinese billionaire Leaf Li lost $1.7 billion, reducing his fortune to $4.7 billion, following Beijing's crackdown on online brokerages offering unauthorized cross-border trading. The stock of his US-listed company, Futu Holdings, plummeted amid the regulatory action.

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Leaf LipersonFutu HoldingsorganizationChinese governmentorganizationBeijingplacecross-border tradingtopicBloomberg Newsorganization

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