Property tycoon Li Ka-shing tops Forbes’s 2014 Hong Kong rich list with a net worth of billion, followed by mostly real estate developers and casino operators, according to the annual ranking released Thursday by the U.S.-based magazine.
The net worth of Li, chairman of conglomerate Cheung Kong Holdings, grew from billion a year ago when he was ranked 8th in Forbes’s world richest list.
Besides properties, he has also invested in worldwide telecom, utility, energy, port and new-age business markets including Facebook and BitPay, provider of virtual currency Bitcoin payment services.
In second place is property and casino mogul Lui Che-woo, bumped up from 5th last year with a doubling increase of net worth from .5 billion to billion thanks to soaring shares of his Galaxy Entertainment, which runs six of the 35 casinos in Macao, the world’s most revenue-making gambling city.
Last year’s second placer, Henderson Land chairman Lee Shau-kee, dropped to third with billion net worth, with growth tempered by government-imposed levies to cool the red-hot property market.
The tight followers include real estate tycoons the Kwok family, Cheng Yu-tung and Joseph Lau, hotelier and utility magnate Michael Kadoorie and family, Peter Woo and family in property rental market, another casino operator Pansy Ho and sourcing flagship Li & Fung owners Victor and William Fung.
Ho, Hong Kong’s richest woman and heir apparent of father and Macao’s gambling industry legend Stanley Ho, is in the 9th spot with net worth of .8 billion, running MGM China. She also chairs low-cost carrier Jetstar.
Her younger brother Lawrence, another casino operator in Macao, ranks 12th with .4 billion in net worth.
Stanley Ho’s fourth wife Angela Leong, gained control of SJM Holdings after Ho divided his empire among his wives and 17 children, clinched the 19th spot with .85 billion.
The Hos together run 24 of Macao’s 35 casinos as of last September.
Hongkong Forbes business magnate Sir Ka shing Li ranks first again with capital USD Billion,more information about chinese society and economy subscribe and browse channal at http://youtube.com/user/cosmeticmachines
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