Date
24 September 2017
Li Ka-shing continues to top the Chinese rich list, with an estimated net worth of US$31 billion. Photo: Bloomberg
Li Ka-shing continues to top the Chinese rich list, with an estimated net worth of US$31 billion. Photo: Bloomberg

Li Ka-shing retains top spot on Forbes Chinese rich list

Tycoon Li Ka-shing has kept his top spot on Forbes’ Chinese rich list, with net assets of US$31 billion, according to the magazine’s latest ranking of the wealthy released Monday.

Lui Che Woo, who controls Macau gaming operator Galaxy Entertainment Group (00027.HK), came in second on the list while Lee Shau-kee, chairman of Henderson Land Development (00012.HK), ranked third.

Chinese businessmen with more than US$1 billion net assets numbered 290 in the 2014 wealth list, with their combined fortune rising 22 percent year on year to US$875.6 billion. As many as 152 tycoons were from the mainland with their combined fortune at US$374.8 billion, accounting for 52 percent and 43 percent of the total respectively.

The number of Hong Kong tycoons accounted for 15 percent of the total, with combined assets of US$205.15 billion. Ten percent of the Chinese tycoons were from Taiwan, Forbes said in a statement on its Chinese website.

Of the ten richest Chinese, the top four were all from Hong Kong, while another four were from the mainland. The mainland top four are Dalian Wanda Group chairman Wang Jianlin, Tencent Holdings (00700.HK) chief executive Pony Ma, Baidu founder Robin Li and Hangzhou Wahaha Group chief executive Zong Qinghou. Alibaba Group chairman Jack Ma was the 15th richest person on the list with a fortune of US$10 billion.

The number of Chinese billionaires accounted for a record 17.6 percent of the total worldwide, while the number from the mainland also rose to a record, according to Forbes.

– Contact HKEJ at [email protected]

TL/AC/RC

 

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