Evergrande's billionaire boss is $17 billion poorer this year — this is the steepest loss suffered by any China's real estate tycoons

It has been a bad year for China Evergrande chairman.

His net worth has plummeted to $6.1 billion, due to the fact that his personal wealth has fallen to the tune of $17.2 billion over the last year.

The losses of China's property's tycoons total $46 billion and are among the most extreme.

The plunge in Evergrande's share price has caused the fortune of Hui to shrink.

Evergrande is the most indebted developer in the world, and its troubles are worrying global investors who fear its collapse could cause a crisis in the rest of the sector.

The company's founder and chairman have already been hurt by the debt crisis. According to unnamed sources, Chinese authorities told Hui to use his own money to pay down company debt, so he sold and pledged personal assets to keep the company going.

In November, China Business News reported that Hui used his personal wealth to pay down company debt. The art and calligraphy from his collection was sold to raise funds. He was forced to sell 277.8 million pledged shares in the company last week after an unnamed third party enforced a "security interest" in them.

Several other Chinese property developers have been hit by investor concerns over a cash crunch in the sector.

The fortune of the founder of Shimao, who is one of China's top 10 developers in 2020, fell by more than half this year as share and bond prices plunged. The year started with a value of more than 15 billion dollars and ended with a decline of more than 6 billion dollars according to the billionaires index.