Forbes: Li Ka-shing retains top spot on 2024 Hong Kong Rich List with a wealth of 36.2 billion US dollars.

On February 22, Forbes released the list of the top 50 richest people in Hong Kong in 2024. CKH Holdings founder Li Ka-shing topped the list with a net worth of 36.2 billion US dollars (approximately 282.36 billion Hong Kong dollars), retaining his position as the richest person in Hong Kong. "Uncle Four" Lee Shau-kee, the founder of Henderson Land (00012), maintained the second position with a net worth of 27 billion US dollars (approximately 210.6 billion Hong Kong dollars). Despite the good performance of Henderson Land's gas utility and hotel businesses, its stock fell by 30% in the weak market. New World Development (00017) chairman Cheng Ka-shui's family continued to rank third with a net worth of 22.1 billion US dollars (approximately 172.38 billion Hong Kong dollars). Due to a slowdown in mainland demand, their family wealth decreased by nearly 7 billion US dollars, representing the largest drop in net value this year. Lee Man-tat, the chairman of Lee Kum Kee Group, who passed away in 2021, continued to rank fourth with his five children having a wealth of 17.7 billion US dollars (approximately 138.06 billion Hong Kong dollars). Former chairman of The Wharf (00004) Wu Kuang-ching continued to rank fifth with a net worth of 13.7 billion US dollars (approximately 106.86 billion Hong Kong dollars). The sixth to tenth positions were held by Chinese Estates Holdings (00127) founder Joseph Lau, with a net worth of 13.1 billion US dollars; Galaxy Entertainment (00027) chairman Lui Che-woo, with a net worth of 12.1 billion US dollars; Sun Hung Kai Properties (00016) chairman Kwok Tak-seng, with a net worth of 11.4 billion US dollars; Alibaba (09988) chairman Tsai Chung-hsin, with a net worth of 8.5 billion US dollars; and Sino Biopharmaceutical chairman Tsoi Chiming, with a net worth of 8.2 billion US dollars. Forbes noted that the overall wealth of the top 50 richest people in Hong Kong decreased by 9% to 296 billion US dollars, with 30 of the listed billionaires, including Li Ka-shing, seeing a reduction in their wealth. The stock price of Cheung Kong Group dropped by a third compared to last year, leading to Li Ka-shing's wealth decreasing to 36.2 billion US dollars. However, it is worth noting that shipping tycoon Helmut Sohmen saw his wealth grow against the trend, increasing by 750 million US dollars to reach 6.25 billion US dollars, as a newer fleet helped boost the stock price of his oil tanker company Hafnia listed in Oslo.