Why do Hong Kong tycoons hold on to their wealth while Westerners give back so much?

Who would have thought that embattled justice secretary Teresa Cheng Yeuk-wah’s illegal structures would reawaken public anger at how Hong Kong’s rich live?

We know from Cheng’s upscale homes that she is wealthy but nowhere near our tycoons who belong to a class of their own. Once admired for their rags-to-riches stories, they are now mocked by many Hongkongers.

Our tycoons have amassed immense wealth but what always strikes me is how they cling on to it, passing it down to their children instead of giving it back to society. America’s super rich have amassed even greater wealth. The difference is that most have pledged to give it away. Amazon’s Jeff Bezos, now the world’s richest man, even asked Twitter followers for philanthropy ideas.

Why are the top donors in The Giving Pledge, started by Warren Buffett and Bill Gates, all Westerners? Surely that should shame Asians. I have long wanted to ask an actual Hong Kong tycoon upfront why Asians pocket their wealth while Westerners give much of it back to society.

When property and casino magnate Lui Che-woo of K Wah Group obliged, I wondered if I would get straight answers. But that’s exactly what I got over a lunch of takeaway fishball noodles with Hong Kong’s third-richest man.