Hong Kong Richest 2020
Prolonged Protests and US-China Trade War have been the biggest concerns during the previous year
Who is A Hong Kong Richest person in 2020? It is the question everyone bears in one’s mind. Hong Kong is facing a series of protests, and they seem not to end any time soon. It has affected the fortune of the city badly. US-China trade war is also affecting the city’s business. The city is home of rich people, and this report assesses the city’s financial situation in terms of Hong Kong’s Richest businessmen for 2020.
Richest Persons of Hong Kong
In a Forbes report, 22 of 50 Hong Kong richest has seen a decline in their net worth. Almost half of them at 24 have increased their net worth over the last year. In other words, prolonged protests and effects of the US-China trade war has led to an increase in only half of 50 billionaires of Hong Kong. It shows the city is witnessing negative effects and business people are not going to earn well. In the following, top gainers and losers would reveal the change of business in the city.
A Hong Kong Richest person is Lee Shau Kee, who has only one million more than the second richest Hong Kong billionaire, Li Ka-Shing. His worth stands at $30.4 billion, and Li Ka-Shing can become richest any time as he is only one billion USD below him. It is to mention here that Li Ka-Shing has been the richest businessman of the city since the start of this list, 12 years ago.
However, the biggest gainer over the last year is Henry Cheng, who stands in third place in the list. He is the son of the late property tycoon of the city, Cheng Yu-Tung. However, Yu-Tung’s family-owned his business that is worth $20.7 billion. It indicates that it is rather distant third than the top two on the list.
On the biggest gainer list, Yeung Kin-man and Lam Wai Ying are notable, and they stand at number ten positions with $8 billion. The husband and wife duo gained 70 percent over the last year, mainly due to roaring demand for 3D glass used in 5G devices. The duo owns Biel Crystal.
Other largest gainers among the richest businessmen of Hong Kong include Wong Man Li, Horst Julius Pudwill, and Zhuo Jun. Among these three notable gainers, Zhuo Jun is a new entrant. On the other hand, Wong Man Li saw a 65 percent increase and Pudwill had seen a 45 percent increase.
Biggest Losers among Hong Kong Richest Persons
Top losers over the last years are Fong Yun Wah and Thomas Lau because of the cool commercial property market. Both have seen a decline of 30 percent and 24 percent, respectively. It is to mention here that top losers among Hong Kong billionaires include 14 real estate tycoons. Another loser in terms of wealth belongs to real estate as well who is Lo Siu-tong. He died in this January, and its estate has not settled yet. Estimates note a drop in his wealth from $1.27 billion to $1.2 billion over the year.
The list indicates that the city is home to many richest or billionaires. The previous years have been mixed in terms of their gain and loss. One may say that half of the top billionaires have gained and half of the top 50 have lost money. Gainers have earned wealth because of the bright prospects of their businesses worldwide.
A large number of real estate tycoons make the losers list that shows negative signs related to the internal business environment of Hong Kong. It may link the situation with prolonged protests and the US-China trade war. Hong Kong has one of the highest real estate values and a drop in the value rings danger bell for the city’s business.