The Forbes Hong Kong Richest list reveals that of the city’s top 50 billionaires, 20 of them made their fortunes in property, six in the manufacturing sector and four in logistics. Their combined wealth is US$324 billion, down US$4 billion from last year.
K Wah International Holdings, the property developer owned by one of Macau’s biggest casino owners, reported its first drop in annual core earnings since 2017 after a Covid-19 led tourism slump deprived it of dividends from the gambling business.
Jiangmen ranks as the second poorest city in the Greater Bay Area. Yet, it is rich in its own way, counting a casino tycoon, an ex-NBA star, the king of oyster sauce, and Hong Kong’s movie icons among its natives and benefactors.
Pratham Education Foundation, an NGO focused on underprivileged children in India and Hans-Josef Fell, a German pioneer in renewable energy, were winners in other two categories.
Hong Kong property tycoon and casino owner Lui Che-woo yesterday launched a HK$60 million annual award, named after himself, to honour people who contribute to "world civilisation".
Under pressure from Beijing, Galaxy's expansion is as much about tourism and leisure as gaming.
The government should import workers to cope with the problem of increasing construction costs, K Wah International chairman Lui Che-woo says of a problem brought on in part by an ageing population in Hong Kong.
Lui Che-woo became Asia's second-richest person by setting up a casino company that within a decade became the world's third-biggest by market value. The 84-year-old says he is just hitting his stride.
Galaxy Entertainment chairman Lui Che-woo has ridden Macau's casino boom to become Hong Kong's second-richest person, according to Forbes magazine.