Record stock selloffs in China’s leading consumer companies wiped over USD16bn from the fortunes of the nation’s richest individuals, highlighting growing investor concerns about Asia’s largest economy. Zhong Shanshan, founder of Nongfu Spring Co., saw his wealth drop by USD3bn as the beverage giant’s shares plummeted 10% in Hong Kong, leaving him with USD46.6bn. PDD Holdings Inc. founder Colin Huang lost USD14.1bn on Monday after a historic share drop, with further losses on Tuesday reducing his fortune by an additional USD1.4 billion. These declines reflect waning confidence in Chinese consumer demand, where price wars and public relations challenges have intensified competition. The sharp selloff signals deeper apprehensions about the resilience of China’s consumer market.