Retailers make Forbes Hong Kong’s Richest 50 People list
The local retail industry may have taken a battering in recent years, but 12 of the people who make Forbes Hong Kong’s Richest 50 People list can thank the sector for their fortunes.
The latest version of the list is now online, unsurprisingly headed by Li Ka-shing, the 90-year-old founder of CK Hutchison Holdings, which counts AS Watson among its assets. The group has more than 14,500 stores globally, including Watsons beauty, Fortress electronics, and grocery stores. According to Forbes he is worth US$31.7 billion.
Next on the list with retail interests is Peter Woo, chairman of property developer Wheelock & Co, whose interests include Wharf Holdings, parent of Harbour City shopping centre, and Lane Crawford. He has a net worth valued at $10.8 billion and is ranked seventh.
Joseph Tsai, vice chairman and co-founder of Alibaba Group is in eighth place, with a worth of $9.5 billion and Francis Choi, with a value of $6.7 billion is 10th. Choi was founder of Early Light International, the world’s largest toymaker, he owns Kowloon City Plaza and in 2010 ventured into the watch retailing business, buying Halewinner.
The full list of Hong Kong’s Richest 50 People, including biographical details, can be found on the Forbes website. But here’s a short list of those with retail interests:
1 Li Ka-shing $31.7bn.
7 Peter Woo $10.8bn.
8 Joseph Tsai $9.5bn
10 Francis Choi $6.7bn.
15 Tang Shing-bor $5.1bn.
18 Robert Miller $4.8bn.
23 Edwin Leong $4.2bn.
36 Michael Ying $2.1bn.
37 Martin Lau $2.02bn.
38 Tang Yiu $2bn.
41 Thomas Lau $1.85bn.
49 Albert Yeung $1.3bn.