Hong Kong is the financial and commercial hub of China. Hong Kong is the richest city of China. Hong Kong has the most liberal economy in the whole world. The tax burden is low and not very restrictive legislation. The culture of Hong Kong is a mix culture. You find balanced mix between European tradition and Chinese tradition. The government of Hong Kong follows the bilingual policy. Here is the list of the richest people present in Hong Kong along with their net worth. Continue reading to find out who are the richest and their net worth.
10.Yeung Kin-man – $5.4 Net Worth
Yeung is the founder and chief executive of Biel Crystal Manufactory. Lam Wai Ying, Yeung’s wife and Biel’s chairman, owns 49% of the business; Yeung holds 51%. Biel is a supplier of smartphone touch screens to Apple that employs 100,000 people in mainland China.
9. Michael Kadoorie: 7.3 Billion Net worth
He chairs CLP Holdings, the publicly traded power company his family co-founded in 1901 and which now serves 80% of Hong Kong’s population. Kadoorie is also chairman of The Hongkong & Shanghai Hotels, the global luxury chain that includes the Peninsula Hotels. He sits on the board of Li Ka-shing’s CK Hutchison Holdings. Kadoorie is the scion of a family of Iraqi Jews who settled in Asia decades ago.
8. Walter Kwok – $8.6B Net worth
Since his ouster from the chairman’s seat at Sun Hung Kai Properties, Walter Kwok has been busy starting over with his own business, Empire Group Holdings. Deals include buying $30 million in stock when Chinese conglomerate Legend Holdings went public and investing in China Jinmao, the developer controlled by Sinochem. He inherited Sun Hung Kai Properties with his two brothers, Thomas and Raymond.
7 .Peter Woo – $14.4 Billion Net worth
He started his career with Chase Manhattan Bank in New York in 1972 after earning an MBA from Columbia University. He met his future wife, Bessie, daughter of shipping tycoon Y.K. Pao, in New York, and in 1975 he joined her family business in Hong Kong. Woo relinquished his chairman’s role at Wharf in 2015 and became “chief adviser.” Beyond property, Wharf and its listed holding company, Whee-lock & Co., control important telecom, port and retailing assets, including the luxury department store chain Lane Crawford. His wealth jumped by more than $2 billion in 2016 as shares in Whee-lock soared, buoyed by strong earnings, sizeable deals and renewed demand from mainland buyers. Son Douglas, heir apparent, chairs Whee-lock
6. Lui Che Woo – $16.1 Billion Net worth
Lui Che w, chairman of Galaxy Entertainment Group, saw his wealth jump nearly 50% in 2016 thanks largely to recovering casino revenues. In October 2016 his Lui Che Woo Prize, which focuses on promoting “mutual respect, mutual understanding and the coexistence of technology, innovation and love,” awarded $2.6 million to each of its first three laureates. “With all the world’s technological advances, material riches and prosperity, [that] actually [doesn’t] mean that there’s peace within people,” he said. Liu arrived in Hong Kong at the age of 4 and as a teenager helped support his family by selling food on the street. Today his eldest son, Francis Lui, runs the gambling side of the family’s business, while his four siblings hold a variety of roles within his property conglomerate K. Wah Group.
5. Joseph Lau- $15.3 Net Worth
Property tycoon Lau transferred his 75% stake in Chinese Estates to his new wife and a son in March 2017, citing serious health issues. In November 2016 he took out full page ads announcing his split with a former ex-girlfriend and a mother of his two children. An avid art collector, he boasts pieces from Warhol, Gauguin and Hockney worth at least $1 billion. His brother Thomas is also a billionaire.
4.Thomas & Raymond Kwok- $17.6 Billion Net worth
With Thomas, 65, sentenced to 5 years in prison in 2014 for bribery and eldest brother, Walter, striking off on his own, Raymond, 63, is now the sole chairman of Sun Hung Kai Properties. The Kwok brothers inherited the publicly traded company after the death of their father, Kwok Tak-seng, in 1990. Most of its investments are in Hong Kong, such as the International Commerce Centre, the city’s tallest skyscraper, and the International Finance Centre. The property business is also expanding on the mainland.
3. Cheng Family – $17.9 Billion Net worth
Patriarch Cheng Yu-tung died in September at 91, but in 2012 he had installed eldest son Henry, 70, as chairman and executive director of family-controlled jeweler Chow Tai Fook and conglomerate New World Development. Henry leans on his Harvard-educated, banking-groomed offspring: Adrian runs New World’s day-to-day operations; Sonia acquired top-end hotel chain Rosewood to lead a global hospitality expansion. Henry’s brother Peter heads New World China Land, featuring much of the $16 billion Cheng père invested in mainland China, doubling down after Tiananmen Square. He is also survived by his wife, Chow Tsui-ying, and two daughters. Representatives of the family declined to say how his fortune will be divided.
2. Lee Shau Kee – $28.8 Billion Net Worth
Lee grew up in a poor family that could only afford to eat fish or meat twice a month. He cofounded property developer Sun Hung Ka with Kwok Tak-Seng, father of Hong Kong’s billioniare Kwok brothers. He started Henderson Land Development in 1976; the property giant now makes up the bulk of his wealth. Philanthropist has donated more than $400 million toward education over the years.
1.Li Ka-shing – $34.4 Billion Net worth
Hong Kong’s richest person, Li Ka-shing is one of the most influential tycoons in Asia, with interests in everything from ports, utilities and telecom to real estate and retail. His companies employ over 310,000 people in more than 50 nations. He’s been shifting much of his focus to Europe, where he invested more than $28 billion over five years. More recently he invested in Postal Savings Bank of China and also announced a more than $5 billion deal to acquire Australian electricity and pipeline company Duet. His rags-to-riches story is legendary: Li and his family fled China for Hong Kong during the Sino-Japanese war. Not long after their arrival Li’s father, who had been a primary school principal in China, died from tuberculosis. At age 12 Li quit school and started as an apprentice in a watch-strap factory. By 14 he was working full-time in a plastics trading company. He eventually quit to start his own business making plastic toys and everyday items, and later plastic flowers.
