China online game firm billionaire loses ₹11,500 cr in a day

A 9.8% plunge in stock price of Chinese online and mobile game giant NetEase on Thursday erased $1.8 billion (₹11,500 crore) from Founder William Ding’s fortune. After the plunge, Ding's net worth stood at $17 billion (over ₹1 lakh crore), and he was ranked as the world’s 63rd richest person. Notably, NetEase dropped after reporting a lower-than-expected increase in profit.