Tycoons On 2020 Forbes Hong Kong Rich ListSee Mixed Fortunes [Forbes]
CHOW TAI FOOK JEWELRY ADR (CJEWY)
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Source: Forbes
HONG KONG (February 6, 2020) here While Hong Kong’s benchmark Hang Seng stock index was almost flat since the net worths were last measured in February 2019, the combined wealth of the 50 richest tycoons rose to US$308 billion. Li Ka-shing, who held the No. 1 spot as Hong Kong’s richest since the list’s inception 12 years ago, was surpassed by property tycoon Lee Shau Kee by $1 billion or just over 3%. The net worth of Lee, founder of Henderson Land, climbed slightly to $30.4 billion, while Li fell one spot to No. 2 with a net worth of $29.4 billion. Most of the overall gain on this year’s list can be attributed to Hong Kong’s third-largest fortune, owned by the late property tycoon Cheng Yu-tung’s family and represented by his son Henry Cheng. Following a better understanding of their inherited fortune, the listing now includes the family’s collective wealth of $20.7 billion. Their most valuable assets are stakes in Chow Tai Fook Jewellery Group and property firm New World Developmen
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