Forbes magazine’s list of Hong Kong’s 50 Richest Persons for 2018 notably features billionaires with gambling holdings in Macau once again.
The journal noted in a press statement on Thursday that despite Hong Kong’s GDP contracting by 3.5 percent in 2022, “the prospect for a rebound became bright when pandemic limits were removed late last year and quarantine-free travel began in January following a three-year absence.”
Despite the benchmark Hang Seng index plunging by 12 percent, by comparison, the combined wealth of Hong Kong’s 50 richest decreased “just marginally” to US$324 billion in this year’s list, fromUS$328 billion.
The chairman of the Hong Kong-listed Galaxy Entertainment Group Ltd., Lui Che Woo, has seen his net worth climb to US$14.9 billion from US$12.8 billion a year earlier, according to the 2023 “Hong Kong’s 50 Richest” list.
Mr. Lui is still the richest among the Hong Kong-based Macau casino entrepreneurs and is currently ranked seventh, up from eighth in 2022. Moreover, he serves as chairman of the K. Wah Global Holdings Ltd.
Co-chairwoman of MGM China Holdings Ltd. Pansy Ho Chiu King’s net worth increased from US$3.4 billion to US$3.8 billion in just one year. She was 28th in 2022; currently, she is 22nd.
Ms. Ho, the late gaming mogul Stanley Ho Hung Sun’s daughter, is also head of Shun Tak Holdings Ltd., a Hong Kong-listed real estate, shipping, and hotel company. The latter company operates ferries between Hong Kong and Macau and has investments in hotels and real estate there.
In the most recent Forbes list, co-chairwoman of SJM Holdings Ltd. Angela Leong On Kei is ranked 32nd, down from 33rd the year before. Yet compared to a year ago, when her net worth was US$2.9 billion, it is now US$2.7 billion.
The chairman and CEO of Melco Resorts and Entertainment Ltd., Lawrence Ho Yau Lung, continues to rank 46th on the 2023 Forbes list. His estimated net worth has increased from US$1.25 billion to US$1.4 billion during the past year. Ms. Pansy Ho’s brother is Mr. Lawrence Ho.
According to the most recent Forbes list, Hong Kong tycoon Henry Cheng Kar Shun and his family are still the third wealthiest, with a net worth of US$28.9 billion compared to US$26.4 billion a year ago. The Cheng family is renowned for its wide range of ventures and interests, from jewelry to real estate and hotels. Additionally, it supports investments in plans for casino resorts in the Bahamas, Australia, and Vietnam.
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Feb 23, 2023