10 Wealthiest People from Hong Kong

Photo by Chi Hung Wong on Unsplash

10 Wealthiest People from Hong Kong

Forbes releases an annual list of the 50 richest people in Hong Kong and the most recent list was given on February 24, 2022. From the report, Hang Seng’s index declined in the past 12 months due to stringent Covid-19 that impacted Hong Kong’s economy.

According to Forbes, the wealth of the city’s 50 richest dropped slightly from US$331 billion to US$328 million with an overall increase in their wealth.

Some individuals like Li Ka-shing have been constants in the list. He has topped the list twice with a value of US$36 million (approximately HK$280 million). Here are the top 10 wealthiest people from Hong Kong.

1.Li Ka-Shing

Li Ka Shing in EdTech Stanford University, photo by EdTech Stanford University School of Medicine – Flickr. Wikimedia commons

Li Ka-shing tops the list with a total net worth of $28 billion at the age of 92. He’s specialty is real estate and he is the founder of CK Hutchison Holdings. The CK Hutchison Holdings is an investment holding company, primarily for retail services.

The tycoon also founded CK Asset Holdings, another investment holding company geared towards real estate services. The net worth of the holding changes year-over-year like last year, was down $1.68 billion in the last year.

Li has served as chairman for both companies until May 2018. With time, his son, Victor, took over the roles, and as per his Bloomberg Billionaires profile, in 2019, CK Hutchinson made $38 billion.

2.Lee Shau Kee

LEE Shau Kee, photo by Tksteven. Wikimedia commons

Hong Kong’s second richest man and real estate tycoon Lee Shau-kee was the chairman of his real estate empire Henderson Land Development, which he founded. The company had $58 billion in assets at the end of 2019. He recently retired from his position after an annual shareholders’ meeting.

According to Forbes, his wealth amounts to a total of US$31.5 billion. His intentions are to have his two sons, Peter Lee Ka-kit and Martin Lee Ka-shing to take over his chairmanship and both to serve as the vice-chairmen of the company.

He also co-founded Sun Hung Kai Properties, a Hong Kong-based property developer. Lee’s background was not from a wealthy family and has donated more than $400 million into charities funding education.

3.Lee siblings of late lee Man Tat

Lee Man Tat was born in Macau in 1930 as the eldest son of Lee Siu-nam and his wife. His grandfather Lee Kum-sheung invented oyster sauce and founded the Lee Kum Kee Company in China, in 1888.

He worked at the family business at an early age and at the age of 15 he left school and worked there full time until 1949. The company is now based in Hong Kong when he took over from his father in 1972. He also bought out his uncles from the company with the help of his father.

Ever since he got the chairmanship, he expanded the company’s presence in North America, serving the Chinese diaspora, particularly in San Francisco, Vancouver, New York and the east coast of the United States.

After he died in 2021 at the age of 91, he left the company to his children Charlie, Samm, Eddy, David and Elizabeth.

4.Henry Cheng

Henry Cheng is the chairman of Chow Tai Fook Jewellery Group Ltd, the world’s largest jewellery retailer by market value. As of the end of March last year, their profits jumped 32 percent, due to strong demand for gold products early last year.

The company holds an annual results news conference in Hong Kong. Henry Cheng has a total net worth of $18.6 billion at the age of 74. He inherited Chow Tai Fook Jewellery Group and New World Development from his family and he is the chairman of both companies.

5.Lui Che Woo

Dr Lui Che Woo, photo by ming. Wikimedia commons

Lui Che-woo is the chairman and founder of Galaxy Entertainment Group Lui Che-woo. At the age of 91, he has a net worth $17.9 billion. His company’s net worth was up $212 million in the last year.

Galaxy Entertainment Group is a casino company based in Hong Kong. He also chairs the K. Wah International Holdings, a Hong Kong-based property developer. As of 2015 he started financing the LUI Che Woo Prize and by 2019, nine people had won the prize.

6.Zeng Yuqun

Zeng Yuqun founded the Contemporary Amperex Technology (CATL) and is the chairman of CATL. As of the report, he has a net worth of $16.7 billion at the age of 52. The company has massive clients such as BMW and Volkswagen.

The net worth of the company year-over-year changed up to $7.77 billion in the last year. It is one manufacturers and suppliers of the largest electric car battery in the world. In 2018, it made $4.5 billion.

7.Peter Woo

Peter Woo Kwong-ching is the Chairman of Wharf (Holdings) Limited, a real estate investment and developing company, with a total net worth of $14.6 billion at the age of 73years. He inherited the company after his father in law died.

Before he married his wife, Pao, he worked in New York in the finance sector. He took over the companies when his father in law died but retired then later left his son Douglas to serve as chairman.

8.Xu Hang

mindray headquarter , photo by Lhzss8 . Wikimedia commons

Xu Hang is a Chinese billionaire who co-founded a Shenzhen-based medical device supply company, Mindray Bio-Medical Electronics located in Shenzhen, China. He is 58 years old and holds a BA degree from Tsingua University.

He focused on computer science, biomedical engineering, and international business. He has a total Net worth of $13.1 billion. The Mindray Bio-Medical Electronics Net worth year-over-year change is up $5.69 billion in the last year.

In 2019, the company made $2.8 with Hang as its chairman. He made the list this year and is the 113^th in Forbes billionaires list with as estimated wealth of us$16.1 billion.

9.Hui Wing Mau

Hui Wing-mau is the chairman of Shimao Property Holdings. The company was up $650 million in the last year. He is 70 years old and is worth $11.4 billion.

He once donated an ancient Landscape Map of Silk Road to Palace Museum on Nov. 30, 2017, in Beijing. The developer made $15.7 billion in 2019. According to Forbes reports he is also the second-largest shareholder of the finance company Mason Financial Holdings as of 2016.

10.Raymond Kwok

Raymond Kwok serves as chairman of Sun Hung Kai Properties. He is 67 years old with a net worth of $10.8 billion. Kwok owns about 18% of Sun Hung Kai, which made $10.9 billion in the first half of 2019.

His father started the company and when he died in 1990, Kwok and his two older brothers inherited the company. Kwok and his brother, Thomas, were arrested in 2012 for suspected bribery, BBC reported. Kwok was cleared of the charges.

It is evident that majority of the people who made it on the list had an increase to their general wealth. The combined wealth of the richest however reduced from US$331 to US$328 as per Forbes report.