Forbes India 15th Anniversary Special

Hong Kong's Richest

Published: Feb 22, 2014 06:50:22 AM IST
Updated: Feb 20, 2014 09:40:04 PM IST

Hong Kong's Richest
Macau, the world’s biggest gambling centre, is booming—and pumping up the wealth of its top operators. Lui Che Woo, chairman of Galaxy casinos, has had his worth more than double for the second straight year, making him now the second-richest man in Hong Kong. But higher real estate taxes have hurt others.

$2.1 Billion is the revenue of Galaxy Entertainment Group, run by Lui Che Woo, in the third quarter of 2013, up 16 percent year-over-year.


1. Li Ka-Shing
$32 billion
The empire of Asia’s wealthiest person includes Cheung Kong, Hutchison Whampoa and Husky Energy.

2. Lui Che Woo
$21 billion
He had no experience in casinos when he bought a $1.1 billion Macau gaming licence in 2002 and hit the jackpot.

3. Lee Shau Kee
$20 billion
Last year’s No 2 slips one spot as tax increases hurt sales at his real estate company, Henderson Land.

4. Kwok Family

$17.5 billion
Kwong Siu-hing and her sons are worth nearly $2 billion less after shares of Sun Hung Kai Properties sank.

5. Cheng Yu-tung
$15.5 billion
At 88, he is ailing and has turned over the chairmanship of his New World Development to his son Henry, 67.

6. JosePh Lau
$9.7 billion
The stock price of his Chinese Estates has doubled, bucking the trend in Hong Kong real estate.

7. MIchael kadoorIe
$8.6 billion
He helped make Hong Kong a world financial hub, but shares in his hotel and power companies have languished.

8. Peter Woo
$7 billion
His fortune fell by $1 billion as Wharf, which runs sho-pping malls, suffered in the weak real estate market.

9. Pansy Ho
$6.8 billion
The 51-year-old is the daughter and heir apparent of Macau gambling kingpin Stanley Ho.

10. Victor & William Fung
$4.7 billion
The brothers’ firm, Li & Fung, is the world’s largest supplier of goods to retailers such as Walmart and Target.

WINNERS

Hong Kong's Richest


Elon Musk
 +$1 billion
Net worth: $7.9 billion
Electric automaker Tesla Motors’s shares surge 16 percent after Musk announces 6,900 Model S deliveries in the quarter, blowing past expectations by 20 percent.


Hong Kong's Richest



David Duffield
 +$750 million
Net worth: $7.6 billion
Cloud computing firm Workday, which he cofounded in 2005, trades at an all-time high after an analyst upgrade. Shares are up 93 percent since its 2012 IPO.


Hong Kong's Richest



Robert Duggan
 +390 million
Net worth: $1.9 billion
Pharmacyclics’s shares have their best gain in five years after acing a clinical trial for Imbruvica, being developed jointly with Johnson & Johnson.


LOSERSHong Kong's Richest

Richard Schulze
–$840 million

Net worth: $2.2 billion
After a triple-digit gain for its stock in 2013, Best Buy’s turnaround story hits a big speed bump when awful holiday sales trigger a 29 percent price drop.

Hong Kong's Richest



Leslie Wexner
 –$310 million
Net worth: $5.7 billion
The CEO of L Brands, which owns Victoria’s Secret, has to cut its quarterly forecasts after margins turn out to be lower than expected.


Hong Kong's Richest



Edward Lampert
 –$280 million
Net worth: $3 billion
A year after he named himself Sears’s CEO, weak holiday sales and negative earnings push the retailer’s shares down to their lowest level since 2012.


Figures reflect the change in value of publicly traded holdings from Dec 31, 2013 to Jan 16, 2014.
Sources:   Interactive Data via FactSet Research Systems; Forbes

(This story appears in the 07 March, 2014 issue of Forbes India. To visit our Archives, click here.)

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