China's richest man lost $15B in one hour

Li Hejun had about 15 billion reasons to have a a bad day.

CNNMoney reports the chairman of solar panel firm Hanergy (OTC: HNGSF) lost $15 billion Wednesday when shares in the company plummeted 47 percent in Hong Kong trading – in only about an hour.

The company’s market value lost $18.6 billion and trading of the shares was halted pending the release of a company announcement containing “inside information.”

Li owns just more than 80 percent of Hanergy. According to CNNMoney, before Wednesday's plunge, Hanergy's shares had surged 625 percent over the past year, making it seven times bigger than First Solar, the top U.S. solar firm.

Hanergy uses a specialized technology to create thinner, more flexible solar panels. The company has 15,000 employees, and branches around the globe.

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